London midday: Stocks bounce back
9th Aug 2011 12:19
The top share index has staged a strong recovery having plunged below the 5,000 point mark amid continued nervousness over economic growth. The Footsie tumbled below the 4,900 mark in mid-morning trade, with the blue chip index losing over 3% of its value for the second straight session. The sell-
Read moreLondon open: Flat start as Antofagasta and Vedanta rally
9th Aug 2011 08:26
Stocks are flat this morning, despite the predictions of a resumption of the slide, though recent volatility suggests it would be foolish to rule that out. Miners are rallying from hefty losses, yesterday, with South American copper group Antofagasta and India's Vedanta posting big gains. Precious
Read moreLondon midday: Stocks tumble as jitters grip markets
8th Aug 2011 12:14
London's leading share index has given up a short-lived rally and is posting triple-digit losses as nerves over the global economic situation grip the markets again. Mining giants such as Rio Tinto and ENRC are out of favour, though precious metal miners such as Randgold Resources and Fresnillo are
Read moreLondon open: Volatile start for FTSE 100, Lloyds and RBS rally
8th Aug 2011 08:29
Stocks have recovered from earlier falls on what could be a jittery day following last week's slide, with falling mining shares signalling continued nervousness over global economic prospects. Mining giants such as Rio Tinto and ENRC are out of favour today, though precious metal miners such as Ran
Read moreLondon close: Triple-digit losses as fightback fails
5th Aug 2011 17:06
The top share index closed deep in the red after giving up an afternoon rally that came on the back of heartening job figures in the US. RBS was one of the main casualties, though it bounced off its earlier lows to close down about 7%.Exposure to Greek government bonds and a charge for mis-selling
Read moreLondon midday: Triple-digit losses despite fightback
5th Aug 2011 12:32
Stocks are still posting nasty losses after resuming the slide this morning, though the top share index has come off earlier lows, with Royal Bank of Scotland in particular staging a strong recovery. The stock is down about 5% now, having previously been 20% lower. Exposure to Greek government bond
Read moreLondon open: Royal Bank of Scotland leads the slide
5th Aug 2011 08:23
Stocks are on the slide following the rout in Wall Street last night, with Royal Bank of Scotland in the eye of the storm after exposure to Greece pushed the bank into losses in the second quarter. Exposure to Greek government bonds and a charge for mis-selling of Payment Protection Insurance (PPI
Read moreLondon pre-open: Stocks set for slide as global rout continues
5th Aug 2011 07:39
The top share index is set for triple-digit falls and then some in early dealings as worries over the global economic situation continue to grip markets. US benchmarks suffered their worst one-day decline since the financial crisis of 2008/09 as investors reflected their concerns over the global ec
Read moreGreek exposure hurts RBS
5th Aug 2011 07:22
Exposure to Greek government bonds and a charge for mis-selling of Payment Protection Insurance (PPI) sent Royal Bank of Scotland into the red in the second quarter. The part-nationalised bank posted an attributable loss of £897m in the quarter to 30 June, against a profit of £257m in the same per
Read moreFriday preview: RBS, Pru, US non-farm payrolls
4th Aug 2011 18:31
Royal Bank of Scotland (RBS) brings the banking results season to an end with its interim results, and, as with its fellow part-nationalised lender, Lloyds, provisions for claims related to mis-selling of payment protection insurance (PPI) are likely to cloud the profit picture. "We expect an inter
Read moreLondon close: Footsie plummets to 5,393
4th Aug 2011 16:29
Hefty losses from large-cap equities dragged the Footsie over 3.43% lower on Thursday, a day after the blue chip index hit its lowest levels in 2011. Moderate falls turned into steep declines as the sell-off accelerated in the afternoon period, on the back of a bad start on Wall Street, which saw th
Read moreThursday newspaper round-up: RBS, ECB, Next, OBR, Thomas Cook
4th Aug 2011 06:06
The Financial Times reports that RBS is to shed 2,000 investment banking jobs. John Hourican, head of RBS's global banking and markets division, said a smaller, more focused business would deliver more stable profits, according to the paper. The European Central Bank is expected to signal it is ste
Read moreSanderson refinances
2nd Aug 2011 16:02
Sanderson, the software and IT services supplier, has replaced RBS with HSBC as its banker to refinance its term debt and working capital facilities. HSBC has advanced a four year term facility of £7.4m together with a £1m working capital facility. The new facility is expected to generate signif
Read moreLondon open: Barclays boosts FTSE 100 but miners suffer
2nd Aug 2011 08:28
The top share index has edged higher amid a mixed reception for today's stream of company results. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in the first stage of a two-step process designed to avoid the country default
Read moreBroker snap: Nomura expects a £2bn loss at RBS
1st Aug 2011 13:18
Nomura has maintained its reduce recommendation on Royal Bank of Scotland (RBS) ahead of the bank's first half results due on Friday 5 August. The broker expects RBS to report a pre-tax loss of £2bn. Even after stripping out provisions for payment protection insurance and other non-operating charge
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