ING plans rights call and downsizing
26th Oct 2009 08:08
Dutch banking group ING is to launch a massive rights issue and is splitting itself in two to enable it to pay back government bail-out funds. The group, which received a €10bn hand-out from the Dutch government last year, is to raise €7.5bn through a right issue, and said it intends to raise more
Read moreLondon close: Footsie slips back
20th Oct 2009 16:50
There was no shortage of company news to give Footsie direction but it was the release of housing data in the US that ultimately dragged the leading share index into the red. Housing starts increased to a seasonally-adjusted annual rate of 590,000 last month, up 0.5% above a revised 587,000 in Oct
Read moreLondon afternoon: Footsie pulled both ways
20th Oct 2009 14:19
Footsie is struggling to find any sense of direction despite some big movements in individual companies' share prices. Fast growing software company Autonomy is finding the market hard to please. Despite another spell of strong organic growth in the third quarter, the shares are the worst performer
Read moreLondon midday: Banks drag Footsie down
20th Oct 2009 12:04
Footsie made a valiant effort to finish the morning in the blue but came up just short, thanks largely to the weakness of financial stocks. Barclays is sharply lower, after Qatar's sovereign wealth fund said it was selling half of the warrants it holds in the bank. Qatar Holding is selling 379.22
Read moreLondon open: Footsie struggles despite bumper Apple crop
20th Oct 2009 08:38
Excitement in the US over better than expected third quarter results from iPhone giant Apple has not crossed the Atlantic with UK blue chips struggling to make headway. Banks are proving a drag. Barclays is lower, seemingly on the news that its president Bob Diamond has turned down the chance to be
Read moreTuesday newspaper round-up: Bank tax, Apple, Nicholas Levene
20th Oct 2009 06:20
The Government has backed away in the face of speculation that it will impose a windfall tax on banks to punish them for paying excessive bonuses. The move came yesterday as City lawyers warned that rushing through legislation to crack down on bonuses would be unworkable and a legal minefield. Down
Read moreUpdate: FSA to protect borrowers from themselves
19th Oct 2009 13:48
City watchdog the Financial Services Authority (FSA) has unveiled a range of proposed changes to mortgage regulation designed to 'protect consumers more from themselves.' The headline-grabbing change proposed by the FSA is the scrapping of self-certification mortgages, with the regulatory body taci
Read moreFSA to outlaw self-certification mortgages
19th Oct 2009 09:17
Self-certification mortgages are for the scrap-heap, the Financial Services Authority said Monday, as it proposed a shake-up of mortgage regulations. The Financial Services Authority (FSA) said the onus of verifying affordability when a mortgage application is considered should be on the lender, wi
Read moreSunday newspaper round-up: ENRC, RBS, Lloyds
18th Oct 2009 12:17
Eurasian Natural Resources Corporation (ENRC), the Ftse 100 metals and mining giant, is planning to buy out its founders' African assets in a potentially controversial deal. The deal, which has not been valued but could be worth more than $2bn (£1.2bn), would be paid entirely or mostly in shares rat
Read moreWednesday newspaper round-up: Royal Bank of Scotland, Vauxhall, Tesco
14th Oct 2009 06:20
Royal Bank of Scotland is exploring a government-backed plan to give up all of its 312 RBS-branded branches in England and Wales, in a radical move to satisfy Brussels state aid authorities. Officials close to the negotiations say the plan - mediated by the Treasury - is well advanced and is the fa
Read moreLondon close: Retailers weigh on Footsie
13th Oct 2009 16:46
A poor performance from US shares dragged Footsie into the red and the leading index finished the day with substantial losses. Retailers were out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growt
Read moreLondon afternoon: Retailers sag after sales data
13th Oct 2009 14:26
Leading shares remain mixed, with the Footsie easing back into the red over the lunchtime session. Retailers are out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growth in September accelerated to
Read moreLondon midday: Looking for direction
13th Oct 2009 12:14
The Footsie has crawled into positive territory, helped by miners recovering from their weak opening. Kazakhmys is the pick of the sector after revealing it is in talks with the China Development Bank and JSC Sovereign Wealth Fund Samruk-Kazyna regarding a potential corporate loan facility of aroun
Read moreLondon close: Best finish in 12½ months
12th Oct 2009 16:48
UK share prices finished at their best levels in over a year Monday and, despite a few sellers appearing late on, the FTSE 100 ended the session above 5,200. Insurers Old Mutual, Standard Life and Legal & General were in demand all day. Rising stock markets are always good news for their investment
Read moreLondon afternoon: Banks' balance sheet issues resurface
12th Oct 2009 14:23
The Footsie crashed through the 5200 barrier this morning to rise to a one-year high and although prices came off the top over the lunch-time session, the vast majority of blue-chips are still in the blue. The upward trend in global equity markets is good news for the insurers and their investment
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