London close: Footsie snaps 4-day losing streak
26th Jan 2010 16:25
Top stocks staged a recovery late afternoon as Wall Street reacted well to US consumer confidence at a 16-month high. Standard Chartered was a bright spot after Nomura said the recent share price fall represents a buying opportunity. The Japanese broker upgraded the Far East focused bank to 'buy'
Read moreHSBC chairman attacks bank bonuses
26th Jan 2010 13:03
HSBC chairman Stephen Green has hit out at 'distorted' banker's bonuses and predicts pay-outs will be lower in future. 'In banks' remuneration, there's been plenty of distortion,' he said in an interview with the Financial Times. 'You've had bonuses paid off gross income, you've had bonuses paid of
Read moreLondon afternoon: Shares drift lower
25th Jan 2010 16:04
Nervousness has returned to the markets following an indecisive start to the day. The UK's leading index has suffered further losses after last week's 200 point slump as investors discussed the potential impact of President Obama's new bank controls. US shares fell heavily last week on the shock
Read moreFTSE 100 movers: Banks reassured by Myners
25th Jan 2010 13:34
Banks turned round this morning after the City minister Lord Myners ruled out the UK following the US lead on tough bank controls. The minister is heading a summit today on the issue and is said to favour an insurance levy that would be used in the event of another bank failure and bail-out. Royal
Read moreLondon midday: Footsie holding on
25th Jan 2010 12:22
London continues to trade just above 5,300 thanks to financials and mining plays, although defensive issues are proving a drag. The UK's leading index slumped 200 points last week as investors discussed the potential impact of President Obama's new bank controls. But it appears there's a feeling t
Read moreSector movers: Banks bounce back
25th Jan 2010 11:07
Banks are one of the strongest sectors after recovering from a shaky start. Continuing fears over the potential impact of President Obama's new bank controls weighed on the UK sector in early dealings, with additional fears that a new chunk of fund raising could be on the cards to meet tougher new
Read moreLondon open: Mixed start for blue chips
25th Jan 2010 08:45
London has opened lower with banks and miners mixed and buyers largely sitting on the sidelines. The potential impact of President Obama's new bank controls continues to weigh heavily on the UK sector, with additional fears that a new chunk of fund raising could be on the cards to meet tougher new
Read moreBanks fall on Obama proposals
22nd Jan 2010 10:51
Shares in UK and European banks took a bashing Friday, in line with their US peers, as analysts considered the possible impact of US president Obama's tough series of measures to curb risk taking on Wall St. Royal Bank of Scotland, and Barclays, Deutsche Bank, BNP Paribas, Societe Generale and UBS
Read moreLondon open: Banks in early drop
22nd Jan 2010 08:11
Banking shares are dragging London's top stocks lower in early dealings on Friday, after President Obama revealed tough new measures to curb risk-taking among the big Wall Street banks. Obama proposed rules to limit bank mergers and consolidation, while also restricting involvement in hedge funds,
Read moreLondon close: Banks and miners drag Footsie lower
21st Jan 2010 16:30
Leading UK shares lurched lower in the afternoon as US shares weakened and investors waited nervously for President Obama's new bank reforms. The US President's proposals prohibit commercial banks from owning or investing in hedge funds or owning, investing or advising private equity funds, while a
Read moreSector movers: Utilities gush higher
21st Jan 2010 14:49
United Utilities has taken off today after the water company cut its dividend by less than expected to meet the requirements of the industry regulator's price review. It will rebase the dividend to 30p a share for fiscal 2010/11 from 34.3p this year. Experts had thought it might fall by 20-25%. Se
Read moreLondon afternoon: Banks face 'tsunami' of pressure
21st Jan 2010 14:44
Leading shares traded sideways over the lunchtime session, albeit with a small dip at 1:30pm when the US market opened a tad lower. Banks and miners are impeding Footsie's progress, with the latter still friendless on concerns about demand from China. Pundits are predicting that the Chinese authori
Read moreWednesday newspaper round-up: Mervyn King, Cadbury, Google
20th Jan 2010 06:32
The Governor of the Bank of England piled pressure on the Chancellor to specify sharp spending cuts in his March Budget or risk a damaging backlash from the markets. Mervyn King said that the patience of Britons was likely to be "sorely tried" over the coming years, with pay stagnating and inflatio
Read moreMonday newspaper round-up: Royal Bank of Scotland, Cadbury, Ryanair
18th Jan 2010 06:36
Top institutional shareholders claim they have not been consulted about the bonus payments at the Royal Bank of Scotland. The shareholders - who say that ministers and regulators have been privy to talks while they have been "left in the cold" - may demand to scrutinise the plans ahead of a meeting
Read moreSunday newspaper round-up: Cadbury, International Power, US banks
17th Jan 2010 11:25
Cadbury's future hangs in the balance this weekend as Kraft, the American food giant, puts the finishing touches to raising its £10.5 billion bid for the chocolate maker. The new offer, which is expected to improve Kraft's bid from 771p per share to at least 820p, will test the resolve of Cadbury's
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