Cameron calls into doubt FT report on RBS boss's compensation
19th Jan 2012 13:23
Speaking at a press conference in London Prime Minister David Cameron has called into question a report that Royal Bank of Scotland chief executive Stephen Hester will receive a bonus of between £1.3m and £1.5m as "not accurate," Marketwatch.com is reporting. Cameron told the journalists which wer
Read moreLondon midday: Banks lead risers, Essar still volatile
19th Jan 2012 11:54
- Spain sells more than target in debt auction - Greek talks ongoing - Consumer confidence falls The Footsie extended gains by midday, with the banks performing well, with euro optimism giving a boost to sentiment. The Spanish Treasury has this morning sold €6.61bn in long-term debt, well above th
Read moreLondon open: Footsie flat despite euro optimism
19th Jan 2012 08:22
The FTSE 100 opened flat on Thursday morning, following gains made yesterday after the news that the International Monetary Fund (IMF) is boosting its lending capacity by at least $500bn. Lifting sentiment was a source from the Greek finance ministry, who told French news agency Agence France-Pre
Read moreLondon close: Macro data provides a boost, but Essar plunges
17th Jan 2012 16:38
The Footsie finished higher on Tuesday, close to the 5,700 level, but gains were steadily trimmed since the mid-morning. Providing a drag on the blue chip index in afternoon trading was oil and gas giant Essar Energy, which plunged nearly 30% after a negative tax ruling in India. MACRO DATA PROVID
Read moreFTSE 100 movers: RBS tops the list, Essar drops on court ruling
17th Jan 2012 14:59
Part-nationalised lender Royal Bank of Scotland was leading the FTSE 100 higher on Tuesday afternoon after striking a deal with a Japanese bank to sell its aircraft leasing division for $7.3bn (£4.7bn). The bank said the sale of RBS Aviation Capital to Sumitomo Mitsui Banking Corporation would str
Read moreLondon midday: Stocks drift higher after Chinese, German data
17th Jan 2012 11:43
Stocks were off their intraday highs by lunchtime but the Footsie was still some 26 points up from yesterday's close, helped by some cheery Chinese GDP data and a better-than-expected German confidence survey. Fourth quarter gross domestic product (GDP) data from China was easing fears of a hard la
Read moreTuesday broker round-up - UPDATE
17th Jan 2012 09:15
IMI: Exane BNP upgrades to outperform from neutral. Smiths Group: Exane BNP upgrades to outperform from neutral. RBS: Shore Capital upgrades to hold from sell. Oriel reiterates buy. RSA Insurance: UBS labels short-term buy. Resolution: UBS upgrades to buy from neutral. Burberry: Nomura main
Read moreLondon open: Chinese GDP sparks rise, Footsie above 5,700
17th Jan 2012 08:26
The Footsie surged above the 5,700 level in early trading on Tuesday after the Chinese economy expanded at a faster-than-expected rate in the fourth quarter. It seems that investors have shrugged off last night's downgrade of the Eurozone's bailout fund, as just four stocks slipped into the red. Pr
Read moreLondon pre-open: Chinese GDP data to boost buying early on
17th Jan 2012 07:25
Investors are expected to shrug off the downgrade of the EFSF on Tuesday after Chinese GDP data came in better than expected. City sources see the FTSE 100 opening up 50 points from yesterday's close of 5,657. Last night, Standard & Poor's cut the 'AAA' long-term credit rating of the European Finan
Read moreRBS sells aircraft leasing business to help boost lending
17th Jan 2012 07:06
Royal Bank of Scotland has struck a deal with a Japanese bank to sell its aircraft leasing division for $7.3bn (£4.7bn). The bank said the sale of RBS Aviation Capital to Sumitomo Mitsui Banking Corporation would strengthen its Tier 1 capital position and the proceeds would be used to reduce wholes
Read moreTuesday newspaper round-up: UK construction, Peacock, RBS
17th Jan 2012 06:42
Confidence within the UK's construction industry has "collapsed" with just 5% of small businesses operating in the sector expecting their workloads to increase this year, according to a new report. The Federation of Master Builders' "state of trade survey" found workloads have fallen in each of the
Read moreLondon midday: Footsie flat as markets digest S&P move
16th Jan 2012 11:54
After a stint in the blue, and the red, the Footsie was trading flat by midday on Monday, as the markets digested the S&P move to downgrade nine Eurozone countries on Friday evening. Eyes are on France as the nation looks to issued €8.7bn in government debt today. Standard & Poor's (S&P) "finally"
Read moreFive buyers interested in two of RBS's Middle East units
16th Jan 2012 09:30
Royal Bank of Scotland is in talks to sell its cash equity and mergers and acquisitions business in the Middle East as part of a global restructuring at the UK lender, two sources familiar with the matter said, Reuters is reporting. One of those sources added that the 'exit' will likely occur in t
Read moreLondon open: Footsie slips after S&P move, Carnival drops
16th Jan 2012 08:17
The Footsie slipped 0.2% in the opening minutes, following Friday's move by S&P to downgrade nine Eurozone nations. Meanwhile, cruise ship operator Carnival saw shares drop early on after releasing a statement relating to the grounding of a luxury liner off the Italian coast. Standard & Poor's (S&P
Read moreMonday newspaper round-up: China, Peacocks, S&P
16th Jan 2012 06:55
China can maintain an annual growth rate of 8% for the next two decades, the World Bank has said, raising hopes that the powerhouse economy will help lead other countries back to growth. Justin Lin, the World Bank's chief economist used a wide-ranging speech in Beijing to issue the upbeat prognosis
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