Hoare Govett management eyes escape from RBS, rumour
6th Jan 2012 11:34
Royal Bank of Scotland may have found a buyer for its UK corporate brokerage, Hoare Govett; Hoare Govett's own management. Bloomberg is reporting that a management buyout, aided by Oriel Securities, could see the 90 year old company break free of its 83% state owned parent. RBS is known to be keen
Read moreFTSE 100: ENRC soars on dispute settlement
5th Jan 2012 13:22
Shares in Eurasian Natural Resources Corporation (ENRC) leapt on news it has settled a dispute with Canadian mining firm First Quantum over assets in the Democratic Republic of Congo. The two disgruntled companies have reached an agreement under which ENRC will pay First Quantum £1.25bn for the ma
Read moreUp to 10,000 RBS jobs could go, claims FT
5th Jan 2012 09:23
The Financial Times (FT) is reporting the state owned Royal Bank of Scotland (RBS) could be on the verge of slashing 10,000 jobs from its investment banking division. The suggestion comes following government pressure for the bank, which had to be rescued with £45bn of tax payers' money, to reduce
Read moreThursday newspaper round-up: RBS, Spain, Renewables, Next
5th Jan 2012 07:06
As many as 10,000 jobs could be culled at the Royal Bank of Scotland as it dramatically downsizes its global banking and markets division. These cuts and an expected £1bn to £2bn of restructuring costs are considered the worst-case scenario by the bank, it was reported in the Financial Times. RBS is
Read moreLondon close: In the blue as investors say adieu to 2011
30th Dec 2011 12:46
London's top shares clawed back into positive territory as investors bid farewell to a turbulent 2011. Financials recovered from earlier weakness. Barclays was up 0.89%, Royal Bank of Scotland added 0.35% and Lloyds Banking Group recovered 1.61% in subdued pre New Year trading. Oil giants BP and
Read moreLondon midday: Footsie retreats ahead of early close
30th Dec 2011 11:38
London's top shares remained in the red in midday trading, with trading light on the ground ahead of Friday's earlier than usual lunchtime close. Oil giants BP and Royal Dutch Shell each fell 0.5% as crude oil prices eased. However BG Group broke the downward trend, rising 0.51% after it said one
Read moreLondon open: Subdued half day trading
30th Dec 2011 09:44
London's leading shares fell in light trading with financial and commodity plays under pressure in the year's final half-day trading session. Banks such as Barclays fell 0.9%, Royal Bank of Scotland lost 0.9% and Lloyds Banking Group dropped 0.8% in subdued pre New Year trading. Oil giants BP an
Read moreFootsie clunkers of 2011
25th Dec 2011 11:45
Having had a quick shufti at the best performing FTSE 100 stocks of 2011, it is time to have a look at the clunkers. Indian reservations The curious thing about duff performers in the top-share index is that they don't stay in the Footsie if their share price decline continues for too long. As an
Read moreLondon close: Footsie hits nine-day high after economic data
22nd Dec 2011 16:25
The Footsie held on to gains by the close, helped by some helpful economic data at home and abroad. It seems as if the 'Santa rally' that many had put on their Christmas lists has finally started to bear fruit with London's blue chip index finished at the highest closing level since last Tuesday. B
Read moreSector movers: Banks helped higher by macro data
22nd Dec 2011 15:42
The banks were on the rise on Thursday afternoon helped by some helpful economic data at home and abroad. Lloyds led the way, followed closely by RBS and Old Mutual as stocks rallied on news that the UK gross domestic product (GDP) grew by 0.6% in the third quarter in volume terms versus the previo
Read moreFTSE 100 Movers: GDP data boosts Lloyds into top spot
22nd Dec 2011 13:36
Better-than-expected GDP data helped to boost financials into the top ten. Lloyds led the way, followed closely by RBS and Old Mutual as stocks rallied on news that the UK gross domestic product (GDP) grew by 0.6% in the third quarter in volume terms versus the previous three months, according to th
Read moreLondon midday: Stocks higher after GDP data
22nd Dec 2011 11:35
Gains were bolstered by midday on the FTSE 100 with some better-than-expected GDP data helping to boost sentiment. Financials were among the high risers of the day, with Schroders, Lloyds, RBS and Old Mutual among the best performers. UK gross domestic product (GDP) grew by 0.6% in the third quarte
Read moreFTSE 100 Movers: Lloyds leads banks higher
21st Dec 2011 12:58
Banks, in particular Lloyds, were on the rise today, despite credit ratings agency Moody's saying Britain's cherished triple-AAA credit rating could be under threat if the Eurozone crisis worsens. Moody's Investors Service said last night: "Any additional weakening in the macro-economic outlook or
Read moreLondon midday: Footsie laid low by Unicredit, rumours of French downgrade?
21st Dec 2011 11:39
The banks were providing a lift at midday, but the Footsie was registering only slight gains with only a few days before Christmas. Hopes of a 'Santa rally' seem to have been dampened towards midday by the suspension from trading of shares of Unicredit 'limit-down'. They have since resumed trading
Read moreFTSE 100 movers: Aggreko extends gains, pharmas fall
20th Dec 2011 15:29
Temporary power supplier Aggreko was leading the gains on the FTSE 100 on Tuesday, as investors continue to celebrate yesterday's news that full-year profits should come in slightly ahead of previous guidance. Media stocks were also on the rise with advertising giant WPP among the best performers i
Read more