London midday: FTSE 100 seeking direction
9th Mar 2011 12:02
Shares are moving in both directions after updates, but the FTSE 100 sits a few points lower. Insurer Prudential is in demand after saying it made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's biggest earner. Group operating profit before tax on a Eu
Read moreLondon open: Early falls despite Pru show of strength
9th Mar 2011 08:43
London has slipped lower in early dealings, despite good numbers from Prudential and a strong performance on Wall Street overnight as oil prices fell back. Insurer Prudential made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's biggest earner. Group o
Read moreWednesday newspaper round-up: RBS, Food prices, ITV...
9th Mar 2011 06:43
Nine senior executives of Royal Bank of Scotland are in line to receive £28m, according to the latest disclosure of largesse in the financial sector. Stephen Hester, chief executive of the bank, which is 84%-owned by taxpayers, could earn £7.7m for 2010 including salary, annual bonus and long term
Read moreLibDems want bank share giveaway
7th Mar 2011 12:01
The UK taxpayer's stakes in Lloyds Banking and Royal Bank of Scotland could be given away free to the British public under proposals unveiled by the Liberal Democrats. The UK taxpayer acquired 84% of RBS and 43% of Lloyds as a result of a series of bail-outs, totalling £66bn, during the worst of th
Read moreSunday newspaper round-up: HSBC, BSkyB, Virgin Money...
6th Mar 2011 10:53
HSBC has told its biggest shareholders that it is preparing to quit London in a shock move that it said is now "more likely than not". Britain's biggest bank, which has been headquartered in the capital for 19 years, warned key investors that last week's disappointing full-year results have made ar
Read moreFTSE 100 movers: Lloyds heads fallers
25th Feb 2011 13:09
Lloyds Banking is the main faller today following the release of its 2010 figures. Pre-tax profits were £281m, down from £1bn, but on a continuing basis profits were £2.2bn against a loss of £6.4bn. Market forecasts had been for a profit between £1-1.8bn. The £2.2bn profit excluded the £500m pro
Read moreFriday newspaper round-up: Oil, BSkyB, RBS...
25th Feb 2011 06:49
Saudi Arabia moved to calm mounting global fears of an oil supply crisis after panic buying sent crude prices to a 2½-year peak of almost $120 a barrel. Indicating that Opec's biggest producer is prepared to increase supplies, the kingdom entered "active talks" with European oil companies on how to
Read moreFTSE 100 movers: Bumper profit from Capita
24th Feb 2011 15:27
Outsourced services provider Capita is the best performer after its figures. Capita lifted revenues and profits in 2010 despite the coalition government's cost-cutting drive. Pre-tax profits climbed to £364.2m from £325.1m on revenues that rose to £2.74bn from £2.69bn. Serco has risen on the back
Read moreBroker tips: RBS, Kier, Croda
24th Feb 2011 12:46
There was nothing in the full year results from Royal Bank of Scotland (RBS) to persuade Nomura Securities to abandon its preference for the UK's other part-nationalised lender Lloyds Banking. The Japanese broker reiterated its 'reduce' recommendation on Royal Bank of Scotland after the figures cam
Read moreBroker snap: Nomura prefers Lloyds to RBS
24th Feb 2011 12:45
There was nothing in the full year results from Royal Bank of Scotland (RBS) to persuade Nomura Securities to abandon its preference for fellow part-nationalised lender Lloyds Banking. The Japanese broker reiterated its 'reduce' recommendation on Royal Bank of Scotland after the figures came in muc
Read moreLondon midday: Shares still lower as Libya crisis continues
24th Feb 2011 12:11
Shares are stuck in the red as the oil price stays high amid ongoing turmoil in Libya. The north African country itself only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Saudi Arabia and Algeria. Brent crude jumped to $119.79
Read moreLondon pre-open: Light at end of RBS tunnel
24th Feb 2011 07:34
London cannot seem to find forward gear this week, with concerns about Libyan and the soaring oil price continuing to weigh on investors' minds. The blue-chip index is expected to dive below 5,900 at the outset, with City sources predicting a fall of around 35 points from yesterday's close of 5,924
Read moreRBS losses worse than forecast
24th Feb 2011 06:50
Net losses at taxpayer owned Royal Bank of Scotland (RBS) were twice as bad as expected, and even surpassed the £950m it paid the high fliers at its investment banking arm. Depending on which set of broker forecasts you use, RBS was either expected to post a loss of around £406m or a loss of aroun
Read moreThursday newspaper round-up: Lloyds, RBS, JJB, $220-a-barrel oil
24th Feb 2011 06:27
Qatar, the natural gas-rich Middle Eastern state which owns stakes in Barclays and Sainsbury's, could invest in Lloyds and Royal Bank of Scotland, the banking groups part-nationalised at the height of the financial crisis. The Treasury owns about 83% of RBS and about 40% of Lloyds, with the stakes m
Read moreLondon close: Shares slump as Libya worries linger
23rd Feb 2011 16:52
More weakness in the US helped send shares in London sharply lower, with the Libyan crisis and the consequent higher oil price weighing on sentiment. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm, though it has dipped down below $109 again since then. The $3+
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