London midday: Shares little changed
17th Feb 2011 12:07
Banks are setting the pace today, while other stocks are moving in both directions after updates. The FTSE 100 is flat overall. Nomura says Lloyds Banking Group is the preferred name of the UK lenders, and has the best exposure to recovery of traditional banking, without the overhang of a capital m
Read moreThursday newspaper round-up: FSA, Mervyn King, oil price
17th Feb 2011 06:29
Sweeping new powers to ban financial products and publish details of pending investigations of institutions suspected of misconduct will be handed to the three bodies replacing the Financial Services Authority, the Treasury will announce today. In a series of reforms that could prove controversial i
Read moreLondon close: Late rally not enough
15th Feb 2011 16:44
Weakness in the US sent shares into the red and a slight rally in late trading failed to lift the FTSE 100 into positive territory. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Ex
Read moreLondon afternoon: US retail sales setback
15th Feb 2011 14:30
Footsie moved into the red over the lunch time session after the release of disappointing US retail sales figures. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Excluding autos,
Read moreFTSE 100 movers: Barclays leads risers
15th Feb 2011 13:57
There was a positive reaction to Barclays' results and Lloyds and RBS have risen in sympathy. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad debt charges tumbled everywhere except Spain. Real estate investment trust British Land grew underl
Read moreBarclays stops providing asset finance to smallest companies
14th Feb 2011 14:19
Barclays says that it will stop providing asset finance to firms with a turnover of less than £5m a year. This comes less than one week after Project Merlin the agreement between the main banks and the government which was supposed to secure additional lending to small businesses. Barclays, HSBC,
Read moreThursday newspaper round-up: Banks, interest rates, stock exchanges
10th Feb 2011 06:05
George Osborne was accused by a senior Liberal Democrat of letting bankers off the hook after the banks bought themselves an easy ride on bonuses by promising to lend more to small businesses. Lord Oakeshott was dismissed as his party's Treasury spokesman in the Lords within hours of castigating a l
Read moreBanks agree to increase lending
9th Feb 2011 13:15
Britain's big banks are to lend about £190bn to businesses this year in a deal announced by the government today. Under 'Project Merlin', which was conjured up by chancellor George Osborne, £76bn of this sum will be made available to small businesses. Banks have been under heavy pressure to make mo
Read moreBank levy raised to £2.5bn
8th Feb 2011 08:16
Chancellor George Osborne has increased the government levy on bank profits this year by £800m to £2.5bn. Originally the chancellor said he would phase the tax in, with a lower rate of £1.7bn applicable in 2011 rising to about £2.5bn annually by 2012-13. But today, the Treasury said it had increas
Read moreLondon close: Good gains for FTSE 100
7th Feb 2011 16:40
Shares held onto their gains after a decent start on Wall Street to close well in advance of 6,000 points. Gold miner Randgold Resources is wanted after it shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profi
Read moreLondon afternoon: Gains pared
7th Feb 2011 14:19
Leading shares saw gains trimmed over the lunch time session but the Footsie remains comfortably in positive territory, due in no small part to the strength of mining stocks, Gold miner Randgold Resources is wanted after it shrugged off operational and political setbacks in 2010 to post a sharp in
Read moreLondon midday: Miners push FTSE 100 past 6,000
7th Feb 2011 12:04
Strength in the miner sector has helped lift the FTSE 100 well above 6,000 points. Gold miner Randgold Resources as among the best performers after it shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profit befo
Read moreLondon open: Footsie through 6,000 again
7th Feb 2011 08:53
After an uncertain start, Footsie has now pushed on through the 6,000 barrier as miners rally from some early profit taking. Gold miner Randgold Resources shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profi
Read moreMonday newspaper round-up: Energy groups, Retail sales, RBS...
7th Feb 2011 06:42
The big six energy companies could be driven from Britain if they are treated too harshly in any pricing investigation, a senior minister has told The Times. In an intervention likely to put pressure on regulators, Charles Hendry said that suppliers might be too important to future energy security
Read moreSunday newspaper round-up: Bank bonuses, BP, Pfizer...
6th Feb 2011 11:02
Britain's biggest banks are poised to pay out a combined £6bn in bonuses despite government demands for restraint on City pay. The size of the payout will embarrass George Osborne, the chancellor, who is hoping to announce a peace deal with the City this week that will include targets for lending t
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