Sector movers: Banks hit by US sub-prime lawsuit
5th Sep 2011 16:01
The banks were among the heaviest fallers on Monday on the back of concerns over the multi-billion pound legal case regarding the subprime mortgage crisis in the US. There were no sectors in the blue as London suffered a steep sell-off. There was speculation that the 17 banks being sued could be se
Read moreFTSE 100 Movers: Randgold is the only blue-chip looking up
5th Sep 2011 15:14
The FTSE 100 plunged today, with banks responsible for much of the decline as they look set to get hit by a double-whammy from debt rating agency Moody's and the US Federal Housing Finance Agency. Shares in banks fell back after a report said that the ratings agency Moody's is set to lower its ra
Read moreLondon midday: FTSE 100 slumps as RBS and Lloyds slide
5th Sep 2011 12:19
London's leading share index is firmly in negative territory, with banks and retailers coming in for some heavy selling. Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend t
Read moreMoody's downgrade report hits UK banks
5th Sep 2011 10:43
Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody's is awaiting the Independent Commission on Banking's (ICB) report on September 12, which is expected to recomme
Read moreLondon open: Banks take a hit in early trade
5th Sep 2011 08:38
The FTSE 100 opened up nearly 2% down with the banks falling heavily in early trading. The dive follows a tumble on Wall Street on Friday and Asia on Monday on the back of concerns over the global economy, as US payrolls were worse than expected. Meanwhile, Christine Largarde, the head of the Inte
Read moreLondon close: Footsie tumbles over 2%
2nd Sep 2011 16:30
The Footsie finished over 2% down on Friday, as London was not immune from the global sell-off, meaning that just eight out of the 100 blue chips stocks closed in the blue. After a poor start in early trade, sentiment was dampened after a worse-than-expected jobs report in the US which showed that n
Read moreFTSE 100 Movers: Barclays and RBS take a knock
2nd Sep 2011 12:48
Barclays' share price was heading south despite an upgrade from 'neutral' to 'buy' from stock broker UBS. The broker highlighted "substantial potential value in Barclays if the proposals from the ICB [Independent Commission on Banking] did not precipitate a sharp near-term funding cost as a result
Read moreLondon close: Stocks close higher after choppy day
1st Sep 2011 16:39
The FTSE 100 finished in the blue having flitted between positive and negative territory for much of the day. Wealth manager Hargreaves Lansdown was the star performer after its results. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its dividen
Read moreFTSE 100 movers: Banks up, miners down
1st Sep 2011 14:24
Wealth manager Hargreaves Lansdown has raced ahead. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its dividend by nearly 60%. Elsewhere in finance, RBS, Lloyds and Barclays have powered forward, buoyed by rumours that reform of the banking sect
Read moreLondon midday: FTSE 100 falls but RBS leads banking surge
1st Sep 2011 12:30
London's leading share index has drifted into the red following strong gains earlier in the week, but there are still some notable risers. Wealth manager Hargreaves Lansdown has raced ahead. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its div
Read moreUK financial reform could be delayed as banks scramble to avoid taxes
1st Sep 2011 10:49
Rumours are flying that reform of the UK's financial sector could be delayed until 2015 - after the next election. Reports from the Financial Times and the BBC claim legislation could be passed to split banks' retail and investment arms before 2015 but not implemented until later. Banks have been
Read moreLondon open: Miners drag Footsie lower
1st Sep 2011 08:30
The FTSE 100 began September trading on a dull note, falling lower in the opening minutes on Thursday, with the mining sector largely to blame. The mining sector dropped as copper, gold and silver prices declined. Fresnillo, Lonmin and Randgold Resources were among the worst performers. Sector pe
Read moreMonitise signs five year deal with RBS
31st Aug 2011 08:24
Monitise, the mobile payments company, has announced a five-year deal with the Royal Bank of Scotland (RBS) group, broadening its relationship with the state-owned lender. The agreement will see Monitise provide smart phone apps (applications) for all of RBS's divisions, including Natwest in the UK
Read moreLondon close: Miners, banks lead the surge
30th Aug 2011 16:32
The FTSE 100 traded higher on Tuesday, following through on this morning's impressive start, as the index attempted to play catch-up after missing out on yesterday's rally due to the Bank Holiday. Royal Bank of Scotland led the risers on the blue chip index after Deutsche Bank upped its rating for
Read moreLondon midday: Stocks keep gains as London catches up
30th Aug 2011 12:06
The top share index is outpacing its continental rivals this morning, though only as it missed out on yesterday's rally due to the Bank Holiday. Speaking of banks, RBS, Barclays and Lloyds are posting good gains. The first set of interim results from media group Perform since it floated in April
Read more