Sunday newspaper round-up: Barclays, Lloyds, British Airways
15th Nov 2009 09:51
The American investment bank JP Morgan is to trigger one of the City's biggest pay days by buying out the remaining 50% of Cazenove, the blue-blooded broker, for £950m. About £650m will be split between 80 former Cazenove partners, including a number of aristocrats and society figures, many of who
Read moreThursday newspaper round-up: Cadbury, British Airways, Lloyds
12th Nov 2009 06:03
Up to 14 per cent of Cadbury's share register is estimated by brokers to be controlled by hedge funds that are betting Kraft will raise its $16.2bn (£9.8bn) offer for the UK confectioner, increasing the likelihood that its hostile bid will succeed. Brokers predict that towards the end of the bid bat
Read moreLondon close: Miners power Footsie gains
9th Nov 2009 16:31
Mining stocks were at the vanguard of a strong advance from FTSE 100 as commodity prices were boosted by plans outlined by world leaders over the weekend to continue with stimulus measures. Kazakhmys, Fresnillo, Rio Tinto and Vedanta were some of the best performers in the mining sector. Mining g
Read moreLondon afternoon: Cadbury rejects Kraft bid
9th Nov 2009 14:23
After all the waiting and speculation, the formal bid for Cadbury from US group Kraft Foods proved a disappointment, but it has not dampened sentiment in a buoyant London market. Kraft formally announced a bid for Cadbury on the same terms as the indicative offer announced at the beginning of Septe
Read moreBroker snap: HSBC & Barclays preferred to RBS
9th Nov 2009 13:26
Nomura Securities continues to take a cautious stance on rescue case Royal Bank of Scotland and recommends clients should reduce exposure to the stock. 'We do not believe the group has surplus capital, as the apparently significant capital strengthening will be absorbed by further losses and involu
Read moreBroker tips: RBS, Prudential, Cadbury
9th Nov 2009 13:18
Insurance giant Prudential was one of the major risers on Monday morning after a price target upgrade from Dutch broking group ING. ING has upped its target price for the Pru from 392p to 584p, but maintains its 'hold' rating for the shares. The broker is not sold on all insurers, however. 'The re
Read moreLondon midday: Footsie bursts through 5200
9th Nov 2009 11:58
With the price of gold crashing through the $1,100 and other metal prices on the up, miners are leading a strong advance by Footsie. Demand for mining stocks has been spurred by comments at the close of the G20 summit pledging a continuing commitment to providing economic stimulation to the world e
Read moreLondon open: Miners and insurers lead the charge
9th Nov 2009 08:55
Leading shares have made a confident start to the week following the latest G20 meeting, with insurers and miners leading the way higher. A statement issued after this weekend’s G20 summit reassured marlkets that there would be no premature withdrawal of economic stimulus packages. “The recovery
Read moreLondon pre-open: Strong start to week expected
9th Nov 2009 07:35
London looks ready to start the week in style following the latest G20 meeting and after Wall Street found plenty of support at the 10,000 level on Friday afternoon. A statement issued after this weekend's G20 summit reassured marlkets that there would be no premature withdrawal of economic stimulu
Read moreRBS chairman joins Anglo American
9th Nov 2009 07:15
Mining giant Anglo American has added former Sainsbury chairman, Sir Philip Hampton, to the board in a non-executive role. Hampton has been chairman of Royal Bank of Scotland (RBS) since February 2009. Prior to joining RBS, Hampton was group finance director of Lloyds TSB, as it was then named, fr
Read moreLondon close: Shares shake off US blues
6th Nov 2009 17:15
The Footsie finished a see-saw day in positive territory, shrugging off concerns about the worse than expected US jobless figures, which revealed the US unemployment rate has risen above the 10% level. Banks enjoyed a day in the sun, helped by a positive response to results from Royal Bank of Scotl
Read moreFTSE 100 movers: BA, RBS, Rentokil
6th Nov 2009 15:50
British Airways and Royal Bank of Scotland managed to post losses between them of over £2.5bn today, but that did not stop both being the best two performers today on the FTSE 100 index. The state-controlled bank that on Tuesday announced another £33bn cash injection from the government lost £2.1bn
Read moreLondon afternoon: Stocks slide on US jobless news
6th Nov 2009 14:04
Leading shares are retreating rapidly in the wake of worse than expected US non-farm payrolls data. October non-farm payrolls data showed the US unemployment rate rose to 10.2% from 9.8% in September. The number of jobs lost in October was 190,000, versus expectations of 175,000 job losses. So fa
Read moreSector movers: Banks make it higher
6th Nov 2009 12:36
Banks are going well Friday as investors take huge losses from RBS in their stride and a broker upgrade for Lloyds. More huge write-offs sent Royal Bank of Scotland deep into loss over the past three months. The state-controlled bank that on Tuesday announced another £33bn cash injection from the
Read moreLondon midday: Financials lead advance
6th Nov 2009 12:04
Banks and property stocks are leading the market higher, though the advance is being conducted at a leisurely pace. More huge write-offs sent Royal Bank of Scotland (RBS) deep into loss over the past three months. Nine-month losses now total £2.06bn against a profit £1.8bn this time last year. Des
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