Virgin prepares bid for RBS branches, reports
21st Mar 2010 12:09
Richard Branson's Virgin Money is reportedly preparing a first round bid for Royal Bank of Scotland's 320 English branches. Virgin Money has hired advisers Greenhill, which confirms Virgin's interest in being considered a serious contender for the part-nationalised lender's high street banking net
Read moreSunday newspaper round-up: Budget, RBS, Sainsbury
21st Mar 2010 11:03
Alistair Darling will next week endorse plans for a global tax on investment banks and other institutions that pose a "systemic risk", but will rule out using the proceeds to create an insurance fund against future bank failures. The chancellor will use his Budget to give detailed backing to a glob
Read moreLondon close: Footsie comes off highs
19th Mar 2010 16:37
Footsie reached levels not seen since 2008 in afternoon dealings, but the gains dwindled after a poor start in the US and the leading share index finished just a few points in the blue. Banks led the way after an upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combin
Read moreFTSE 100 movers: Banks drive Footsie to 21-month high
19th Mar 2010 15:33
Footsie hit a 21-month high as banks charged forward after Lloyds said it would be profitable on a combined businesses basis in 2010. Chief executive Eric Daniels said trading in the first 10 weeks of 2010 had been "strong", prompting UBS to lift is rating on Lloyds shares to 'buy' from 'neutral' w
Read moreLondon afternoon: Footsie at 21 month high
19th Mar 2010 14:08
Footsie marked time over the lunch time session after hitting levels in the morning session not seen since June 2008. Banks continue to lead the way after an upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Danie
Read moreLondon midday: Defensives left behind
19th Mar 2010 12:10
Risers outnumber fallers by around four to one among FTSE 100 constituents as the market continues to enjoy a sentiment boost from an impromptu and upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed
Read moreSector movers: Lloyds buoys banking sector
19th Mar 2010 10:52
Lloyds leads the banking sector after giving an impromptu and upbeat trading update ahead of a presentation at the Morgan Stanley european financials conference today. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed Friday. Daniels said trading
Read moreLondon open: Lloyds fires Footsie higher
19th Mar 2010 08:45
London's top stocks have started strongly after the Dow posted its eighth day of gains and Lloyds Banking predicted a profit this year. Part-nationalised lender Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed Friday. In a short statement ahead
Read moreFriday paper round-up: Tories to unveil Green Investment Bank
19th Mar 2010 06:39
A Conservative government would put a carbon tax on electricity generation to encourage investment in renewables and nuclear power, David Cameron will say on Friday as he sets out his party's long-awaited energy strategy. The plan will be included in a consultation paper published on Friday, setti
Read moreLondon close: Weak finish as banks retreat
18th Mar 2010 16:35
London closed in the red after a mixed opening on Wall Street as banks and miners ran into profit taking. Among the big caps, GlaxoSmithKline was the best performer, after rival drug group, Switzerland's Novartis, had to hand back US rights of a drug widely considered a generic copy of Glaxo's top
Read moreFTSE 100 movers: Drug hand back boosts Glaxo
18th Mar 2010 16:02
Footsie is barely changed on the day but pharma company GlaxoSmithKline is a big riser. Rival drug group Novartis has handed back the US rights for asthma treatment VR315 to UK-based pharma company Vectura. VR315 is widely considered to be a generic copy of Glaxo's top selling drug, the Asthma tre
Read moreLondon close: Pension deal boosts BA
16th Mar 2010 17:03
After threatening to hit a new intra-day high the FTSE 100 index saw its advance checked in the final hour of trading as profit takers moved in ahead of the Federal Reserve's decision on interest rates later today. Airline British Airways made a late surge to the top of the Footsie leaderboard as i
Read moreLondon afternoon: G4S locked out of market rally
16th Mar 2010 14:49
The Footsie stopped just short of dipping into negative territory over the lunchtime session before buyers moved back in just before 2pm. Banks and miners continue to provide many of the bright spots, with the latter benefitting from higher metal prices. In banking, Royal Bank of Scotland is want
Read moreLondon midday: Early gains trimmed
16th Mar 2010 12:03
The FTSE 100 was clinging on to positive territory at the start of the lunchtime session after share prices went into a late morning swoon. Banks and miners continue to provide most of the bright spots, with the latter benefitting from higher metal prices. In banking, Royal Bank of Scotland is wa
Read moreLondon open: US gives Footsie a lift
16th Mar 2010 08:53
Footsie opened higher on the back of a strong performance from US shares late yesterday and strong gains for Royal Bank of Scotland. RBS is mulling a buy back of at least £10bn (€11bn) of the bank's £28bn of debt at a premium to current prices according to the FT. It is one of the best performers t
Read more