RBS cuts 2,600 UK jobs
10th May 2010 15:37
Part-nationalised Royal Bank of Scotland announced it is cutting a further 2,600 jobs in its insurance and retail-banking divisions over the next year. The 84%-state owned bank RBS said 2,000 jobs would go at its Churchill and Direct Line insurance business and another 600 at the head office of it
Read moreFTSE 100 movers: Banks propel index higher
10th May 2010 14:48
Footsie is rising on the back of a strong recovery in banks and financials following the €720bn deal to prop up the euro agreed by EU ministers at the weekend. Barclays, Royal Bank of Scotland and Lloyds are the top three performers. Asia-focused bank Standard Chartered is also rising. Vedanta R
Read moreLondon afternoon: BP misses out
10th May 2010 14:18
It's almost a clean sweep among FTSE 100 constituents for stocks on the rise, with the notable exception of BP, which continues to be dragged down by mounting expenses for its oil spill clean-up. Banks are leading the advance on the back of the €720bn deal to prop up the euro agreed by ministers at
Read moreLondon midday: Surge continues
10th May 2010 12:43
Footsie has continued its upward surge on the back of a €720bn deal to prop up the euro agreed by ministers at the weekend. The three-year plan includes €60bn (£52bn) from all EU members, €440bn (£381bn) from the 16-nation eurozone and €220bn from the IMF. Footsie has bounded forward by over 5%.
Read moreLondon open: Euro deal sends Footsie soaring
10th May 2010 08:57
Stock markets across Europe are powering ahead after EU ministers agreed a €720bn deal to prop up the euro at the weekend. The three-year plan includes €60bn (£52bn) from all EU members, €440bn (£381bn) from the 16-nation eurozone and €220bn from the IMF. Footsie has bounded forward by over 4%, wi
Read moreLondon close: Shares slide after election
7th May 2010 16:48
Shares continued sliding on Friday as the European debt crisis rumbled on and after the previous day's election failed to produce a decisive result. Germany's parliament has approved a rescue package for Greece, but traders are still worried that the debt problems could spread to other countries, i
Read moreFTSE 100 movers: Capita slumps on public spending worries
7th May 2010 16:37
Footsie is well down on the day as worries about a hung parliament spook the markets. There has been a late rally but it remains much lower. Outsourcing specialist Capita has been hit by downgrades on the back of worries about public spending. Royal Bank of Scotland is sharply lower even though
Read moreLondon afternoon: RBS leads retreat
7th May 2010 14:35
The market rally seen towards the end of the morning session fizzled out over lunch as London joined other European markets in retreat. Prime Minister Gordon Brown has moved into line with Liberal Democrat leader Nick Clegg and agreed that the Conservative party, which won the most seats in yesterd
Read moreLondon midday: Clegg statement calms markets
7th May 2010 12:10
After initially reacting negatively to the prospect of a hung parliament London's leading shares have rallied after Liberal Democratic party leader Nick Clegg said he is sticking with his pre-election view that the party with the most votes - in this case the Conservatives - should have first crack
Read moreLondon open: Election and Greece uncertainty hits shares
7th May 2010 08:51
London's top stocks have opened sharply lower as investors consider this morning's news that the UK is heading for a hung parliament. Latest projections are for the Tories to be largest party but will fall short of majority, as David Cameron's party fails to take many key target seats while Labour
Read moreLondon pre-open: Footsie to drop more than 100 points
7th May 2010 07:37
London's top stocks look set to drop more than 100 points in early dealing as investors consider this morning's news that the UK is heading for a hung parliament. In the UK election, the Tories are on course to be largest party but set to fall short of majority, as David Cameron's party fails to ta
Read moreRBS makes Q1 operating profit
7th May 2010 07:05
Part-nationalised lender Royal Bank of Scotland moved into profit at the operating level during the first quarter of 2010 as impairment charges fell, although there was still a small pre-tax loss. Operating profit for the three months to 31 March was £713m compared with a £1.35bn loss a year ago, b
Read moreFriday newspaper round-up: Hung parliament predicted, Labour talking to LibDems
7th May 2010 06:30
In the UK election, the Tories are on course to be largest party but set to fall short of majority, as David Cameron's party fails to take many key target seats. Labour is pushing to form coalition with Lib Dems. The latest polls (at 6.00am) suggest the Tories will end up with 309 seats, Labour on 2
Read moreLondon close: Greece pulls Footsie down again
6th May 2010 16:43
Footsie ended the day sharply lower as Greece's problems reared up again and investors fretted about the outcome of today's election. Banks were hit hard as ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, HSBC and even Asia-foc
Read moreFTSE 100 movers: Banks lead market down
6th May 2010 15:33
Banks are leading Footsie downwards after ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, Lloyds, HSBC and even Asia-focused Standard Chartered fell sharply after Moody's said banks in the UK, as well as in Ireland, Italy, Portu
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