FTSE 100 movers: Banks in demand
3rd Dec 2009 18:06
Barclays was wanted after the Telegraph reported that it is set to award its 22,000 investment bankers pay rises of up to 150%. Lloyds Banking was also higher, as was Royal Bank of Scotland. Market makers initially marked RBS lower on news that that the bank's board is threatening to resign en mas
Read moreLondon close: Miners eclipse banks to send index lower
3rd Dec 2009 16:35
London closed on a low note as a good day for bank shares was offset by dips for the miners and oil groups. Banking shares marched forward despite an assertion by influential US bank Goldman Sachs that commodity prices are set to rise in 2010. Goldman Sachs also seems to be out of step in its view
Read moreLabour politicians wade into RBS bonus row
3rd Dec 2009 16:02
Government ministers are seemingly at odds with each other in the widening row of the size of the bonuses to be paid to Royal Bank of Scotland's investment bank staff. A number of ministers waded into the dispute today after reports that bosses at the state-owned bank could resign if the Treasury s
Read moreSector movers: Bearish Goldman fails to dent banks
3rd Dec 2009 12:37
The banking sector has shrugged off a bearish note from Goldman Sachs to post good gains. The broker downgraded the sector to 'neutral' following its recent strong showing, saying that large global retail banks are likely to be the stocks to hold in the sector. Barclays is wanted after the Telegra
Read moreLondon midday: Shares lack direction
3rd Dec 2009 12:11
Banking shares are still marching forward but gains are countered by weakness among miners, despite an assertion by influential US bank Goldman Sachs that commodity prices are set to rise in 2010. Goldman Sachs also seems to be out of step in its view of banks today, having downgraded the sector to
Read moreDarling risks RBS exodus over bonuses
3rd Dec 2009 08:36
Bosses at state-owned Royal Bank of Scotland could resign if the Treasury starts interfering with the £1.5bn bonus pot available to staff at the bank's investment arm. News that chancellor Alistair Darling is ready to veto the huge payout prompted the bank's lawyers to suggest a mass departure at b
Read moreLondon open: Banks lead risers, RBS down
3rd Dec 2009 08:21
Barclays and Lloyds are leading London's top stocks higher in early dealings on Thursday, though Royal Bank of Scotland is an exception. RBS has dropped on news that that the bank's board is threatening to resign en masse if Alistair Darling will veto the group's £1.5bn bonus pot. On the positive
Read moreLondon pre-open: Early strength expected
3rd Dec 2009 07:35
London looks set for a push higher in early deals as metal prices continue to rise and with US futures pointing to a stronger start on Wall Street later. Indications are that the FTSE 100 will add about 30 points this morning, adding to yesterday's 15-point gain. In company news, Xstrata has appro
Read moreThursday newspaper round-up:RBS, Barclays, BofA
3rd Dec 2009 06:21
Alistair Darling is heading for a potentially disastrous showdown with Royal Bank of Scotland over plans to pay £1.5bn in bonuses to its staff. Darling is to be granted the right to veto bonus payments at the bank, which will soon be 84% owned by the taxpayer, but has been warned that doing so could
Read moreLondon close: Miners push Footsie higher
2nd Dec 2009 17:09
Despite being weighed down by a number of ex-dividend stocks, Footsie finished the day in positive territory, with gains on miners outweighing losses on banks. With metals prices hardening, miners were in demand. Lonmin was the best performer after being raised to 'buy' by Investec, which also upgr
Read moreFTSE 100 movers: RBS hit by bonus veto
2nd Dec 2009 15:18
Royal Bank of Scotland leads the fallers after the shock revelation that the government has taken over its bonus pool as part of its signing up to the UK toxic asset scheme. RBS said the UK Financial Investments, which manages government holdings in state-controlled banks, now has "the right to con
Read moreLondon afternoon: Footsie in the blue
2nd Dec 2009 14:52
Though banks are still looking sickly, Footsie has struggled into positive territory on the back of a strong mining sector. Royal Bank of Scotland (RBS) remains the biggest faller among blue-chips, with lingering concerns about its exposure to Dubai World's debt now overshadowed by with newspaper r
Read moreLondon midday: Banks get battered
2nd Dec 2009 12:11
After yesterday's strong gains, equities come off the boil today with banks, in particular, getting hammered, on enduring fears over exposure to Dubai debt. Royal Bank of Scotland (RBS) and Lloyds Banking are the big fallers among blue-chips, while elsewhere in the banking sector Barclays is also o
Read moreSector movers: Sage lifts software sector
2nd Dec 2009 11:02
Sage, which makes accountancy computer packages, is helping lift the software and computer services sector higher after it upped its dividend and said conditions have stabilised in the second half. The total dividend has been increased by 3% to 7.43p per share (2008: 7.21p per share). The group sai
Read moreWednesday newspaper round-up: Royal Bank of Scotand, Barclays, Mitchells & Butlers
2nd Dec 2009 06:32
Alistair Darling was heading for a clash with the City's biggest institutional shareholders last night after the Treasury seized control of the bonus pool at Royal Bank of Scotland. Institutional investors raised concerns about RBS's ability to compete with rivals after the Treasury demanded the ri
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