London open: Investors raise a glass to RBS's pub sale
2nd Dec 2011 08:51
The equity bandwagon is back on the road after pulling over into a lay-by for repairs yesterday, after French President Nicolas Sarkozy said last night it is necessary 'to put an end to all doubts' over the European Union's commitment to sorting out the region's debt crisis. In what may be a sneak
Read moreLondon pre-open: Footsie to regain 5,500
2nd Dec 2011 07:30
Having fallen below 5,500 yesterday the blue-chip index is set to move back above that level at the outset this morning, with City traders betting the FTSE 100 will open up around 29 points from yesterday's close of 5,489. Mining colossus Rio Tinto has given the green light to an additional $2.7bn
Read moreRBS sells 918 pubs
2nd Dec 2011 07:15
Royal Bank of Scotland (RBS) is to sell its tenanted pub business of 918 pubs to the Scottish and Newcastle Pub Company (S&NPC) for £418m. The business has been operated since 1999 by S&NPC under a management agreement. S&NPC is a subsidiary of Dutch brewer Heineken. In the year ended 31 December
Read moreFriday newspaper round-up; BoE, Lloyds, London house prices
2nd Dec 2011 06:43
Extraordinarily serious and threatening...perilous - these are not the sort of words a central banker normally uses, yet every time the Governor of the Bank of England, Sir Mervyn King, appears in public these days, he ramps up the language of crisis still further. Regrettably, he's only telling it
Read moreLondon close: Footsie falls back below 5,500
1st Dec 2011 16:35
Despite a strong rise before on the back of some better-than-expected manufacturing data from the US, London's benchmark index pulled back to finish close to its lowest levels of the day. Nevertheless, after yesterday's eye-watering rally which saw benchmark indices across the globe jump between 3-5
Read moreThursday broker round-up - UPDATE
1st Dec 2011 09:56
Royal Bank of Scotland: Evolution Securities cuts target from 40p to 35p, buy rating unchanged. Marks & Spencer: Investec downgrades from buy to hold. Next: Investec upgrades from hold to buy. Kingfisher: Investec reiterates hold, target cut from 245p to 235p. Cairn Energy: UBS cuts target from
Read moreLondon close: Footsie at two-week high after central bank action
30th Nov 2011 16:32
Benchmark indices across Europe and the US were making gains of between 3-5% on Wednesday afternoon after a united move by central banks to ease conditions in the global financial system. The FTSE 100 in London finished over the 5,500 mark, a closing level it has not reached since 16 November. CENT
Read moreFTSE 100 Movers: Banks and miners soar on central bank moves
30th Nov 2011 15:08
Miners and banks have jumped on the actions taken by China and a host of central banks to improve liquidity conditions across the globe. News that the People's Bank of China had lowered the legal reserve requirement for Chinese banks by 50 basis points sent equities soaring back into positive terri
Read moreLondon midday: Stocks rocket on Chinese move
30th Nov 2011 12:09
With China acting to ease fears of a 'hard landing', European stock markets - and US futures - swung back into positive territory after sharp falls early on. Banks and miners roared into the lead in London, despite being the worst performers early on. The Footsie stood at 5,390 just after the midday
Read moreLondon close: Footsie nudges higher, Ecofin meeting eyed
29th Nov 2011 16:37
The FTSE 100 nudged higher in afternoon trading after swinging between gains and losses all day, as some better-than-expected US economic data boosted equities stateside. Lifting sentiment late on was the Conference Board's consumer confidence index which rose from a revised 40.9 in October to 56 t
Read moreSector movers: GKN drives auto stocks higher
29th Nov 2011 15:45
The automobiles and parts sector was the best performer of the day, with engineering giant GKN providing a lift. GKN shares were given a boost on Tuesday after Moody's changed the outlook on the stock's Ba1 rating from stable to positive. According to financial website ThisisMoney.co.uk, GKN shar
Read moreFTSE 100 Movers: Randgold shines again
29th Nov 2011 15:20
Randgold Resources was the top performer, rising over 5%, climbing its way back after yesterday's fall. On Monday, the firm cut its production forecast for the year after running into a number of difficulties at its Tongon mine in Côte d'Ivoire. The firm said that it now expects group production for
Read moreLondon close: Footsie rises above 5,300
28th Nov 2011 17:29
Footsie stormed above 5,200 in trading and kept on going, finishing north of 5,300 on hopes that tomorrow's meeting of Eurozone finance ministers in Brussels will be the occasion on which a number of new measured, aimed at getting to grips with the region's debt problems, will be announced. Banks w
Read moreFTSE 100 Movers: Banks lead the charge
28th Nov 2011 14:17
Lenders Royal Bank of Scotland, Barclays, Lloyds and Standard Chartered are all sharply higher on the prospect that their losses on European sovereign debt may not now be so severe. Lenders were buoyed by suggestions that progress is being made on the souped-up version of the European Financial St
Read moreLondon midday: Eurozone hopes boost banks
28th Nov 2011 12:18
Stocks markets across Europe are racing ahead and London is no exception, with the top-share index now back above the level it closed at on Monday night. Banks are prominent among the best performers, buoyed by suggestions that progress is being made on the souped-up version of the European Financ
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