Tuesday paper round-up: Royal Bank of Scotland, British Airways, BAE Systems
16th Mar 2010 06:31
Royal Bank of Scotland is planning a vast balance sheet restructuring in an attempt to boost its capital strength and its standing with bond investors. The move could involve at least £10bn (€11bn) of the bank's £28bn of debt being bought back at a bought back at a premium to current prices. This w
Read moreLondon afternoon: Mixed views on banks
15th Mar 2010 14:33
Miners continue to be a drag on the blue-chip index as copper prices fall back, but the Footsie's decline remains a leisurely one. Leading the mining sector down is Xstrata with rumours doing the rounds in the City that the Anglo-Swiss company is mulling a rights issue. Speculation is also hovering
Read moreBroker snap: Sell the banks says Seymour
15th Mar 2010 12:38
Broker Seymour Pierce has written a bearish assessment of the prospects for UK banks, with sell ratings for Lloyds, Royal Bank of Scotland and Barclays. The broker expects the banks will see more revenue disappointment before rebuilding their profitability and believes expectations for banking inco
Read moreLondon close: Footsie edges forward
12th Mar 2010 16:44
The leading share index limped higher to into the weekend only a few points ahead on the week. Lloyds, Royal Bank of Scotland and Barclays gained. Life groups Old Mutual, Legal & General and Standard Life are also in demand. HSBC was the exception among the financials after Goldman Sachs reduced i
Read moreLondon afternoon: Footsie heading higher again
12th Mar 2010 14:05
Futures pointing to a strong start on Wall Street after better than expected retail sales figures and demand for the UK banks have kept Footsie moving upwards. Lloyds, Royal Bank of Scotland and Barclays are all higher. Life groups Old Mutual, Legal & General and Standard Life are also in demand.
Read moreLondon midday: Banks keep Footsie ahead
12th Mar 2010 12:00
Banks are driving Footsie upwards following a sluggish start. Lloyds, Royal Bank of Scotland and Barclays are all higher. Life groups Old Mutual, Legal & General and Standard Life are also in demand. HSBC is the exception among the financials after Goldman Sachs reduced its view to 'neutral' and
Read moreLondon open: Flat start for Footsie
12th Mar 2010 08:39
Early gains have all now evaporated and Footsie has slipped into the red despite a good rally on Wall Street overnight. Financial are the best performers with the nearly all showing good gains. Lloyds, Royal Bank of Scotland and Barclays are all higher. Life groups Old Mutual, Legal & General and S
Read moreLondon afternoon: Stocks trade sideways
10th Mar 2010 14:25
The market traded sideways over the lunchtime session allowing the blue-chip index to retain its tenuous position above the 6500 level. Mining stocks are doing their bit to bolster the Footsie as metal prices rise following a sharp increase in imports into China in February. Banks are also doing th
Read moreLondon midday: FTSE 250 stocks shine
10th Mar 2010 12:01
The Footsie is clinging on to positive territory, not helped by the likes of Admiral, BATS, Serco, Schroders, Standard Chartered and TUI Travel trading in ex-dividend form today. The main points of interest this morning were outside of the FTSE 100 index, however. FTSE 250 constituent Tullett Prebo
Read moreLondon open: Very quiet start
10th Mar 2010 08:51
London's blue chips have opened lower but there is little momentum either way at present with modest gains for the banks offset by a stack of companies going ex-dividend. Derivatives broker Tullett Prebon is the stand-out after it confirmed preliminary discussions with a third party which may or ma
Read moreLondon close: Late rally limits losses
9th Mar 2010 16:36
A strong early performance from US shares helped Footsie recover from earlier weakness to close only slightly lower on a U-shaped day for the leading share index. Sentiment had earlier been dented by weak economic news. Data from the Office for National Statistics showed the UK's deficit on trade i
Read moreLondon afternoon: Footsie meanders in the red
9th Mar 2010 14:18
Disappointing UK trade figures knocked Footsie early with little help likely from the US as futures point to a weak start on Wall Street. Data from the Office for National Statistics showed the UK's deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than
Read moreLondon midday:Trade figures derail rally
9th Mar 2010 12:05
Disappointing trade figures announced at 9:30 nipped an attempted rally in the bud and shares spent the rest of the morning in retreat. Data from the Office for National Statistics showed the UK's deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than ec
Read moreSantander fancied as £4bn RBS branch buyer
8th Mar 2010 11:51
Spanish bank Santander is leading the race to snap up Royal Bank of Scotland's (RBS) 320 English branches for as much as £4bn. The Williams & Glyn's branch network is being sold for £1bn, but a potential buyer would also have to find an extra £3bn, according to a report in today's Times. Emergency
Read moreMonday newspaper round-up: Royal Bank of Scotland, China, Prudential
8th Mar 2010 06:39
Santander has moved into pole position to take over the 320 branches in England being sold by Royal Bank of Scotland. A large corporate buyer with existing UK interests such as the Spanish bank would frustrate attempts to inject fresh competition into British banking. The sale memorandum went out l
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