London afternoon: Shares remain becalmed
18th Sep 2009 13:28
Banks are providing what little excitement there is in the market today, with Lloyds Banking, RBS, HSBC and Barclays the most widely traded blue-chip, with the exception of Vodafone. Despite the number of shares changing hands part-nationalised bank Lloyds Banking Group is little changed, down less
Read moreLondon open: Flat start as markets catch breath
18th Sep 2009 08:44
Footsie has made a slow start after Wall St paused for breath overnight on concerns the recent equity market surge may have got ahead of itself. Part-nationalised bank Lloyds Banking Group is making the headlines. It has confirmed talks with the government about changes to the terms of it joining a
Read moreBroker tips: Next, Cape, UK banks
16th Sep 2009 12:46
KBC Peel Hunt is contemplating upgrading its target price, earnings forecasts and rating for Next after the fashion retailer's impressive interim results on Wednesday morning. The broker expects consensus forecasts for full year pre-tax profit are likely to rise as a result of the half-year update,
Read moreBroker snap: Book profits on banks, Nomura says
16th Sep 2009 11:55
Broker Nomura Securities has warned that shareholders in UK banks should be wary of the potential for a reversal in the sector and advises banking profits. 'The domestic UK banks have rebounded to valuations of 1.4x book value, with the Far Eastern banks on 2.2x. Consequently, we advocate booking s
Read moreBrussels may make Lloyds sell Halifax
16th Sep 2009 08:25
Lloyds Banking Group could be forced to sell off its Halifax business if the European Commission decides to punish it for receiving billions of pounds of state aid, according to reports. Competition Commissioner, Neelie Kroes, has yet to make a final decision, but banking sources say it is clear th
Read moreSunday newspaper round-up: Cadbury, Royal Bank of Scotland, Yell
13th Sep 2009 09:50
Roger Carr, the Cadbury chairman, delivered a stinging rebuke to Kraft Foods this weekend, insisting the American rival's plan to absorb the chocolate maker into its "low growth, conglomerate business" was an "unappealing" and "unattractive prospect". In a terse letter sent yesterday to Irene Rosen
Read moreFriday tips round-up: Royal Bank of Scotland, BG, Galliford Try
11th Sep 2009 06:48
Royal Bank of Scotland is in a mess and its chief executive, Stephen Hester, has made no bones about that fact. The shares have recovered strongly recently. Although the economic outlook appears better than it was and RBS should benefit, be wary of backing the lender at these levels until there is
Read moreTuesday newspaper round-up: T-Mobile, Cadbury, National Express
8th Sep 2009 06:12
Deutsche Telekom, the owner of T-Mobile, has decided to pursue a joint venture in the UK with Orange rather than an outright sale of its British division. A future with Orange, owned by France Télécom, would create a new market leader, pushing Telefónica's O2 off the top spot, with 37% of the UK mo
Read moreNatWest and RBS cut overdraft charges
7th Sep 2009 14:55
Part nationalised lenders RBS and NatWest are slashing charges paid by customers for unauthorised overdrafts or exceeding agreed overdraft limits. From 1 October, accounts will be charged £5 for returning a cheque, direct debit or standing order, down from £38 at the moment. The penalty for paying
Read moreLondon open: Dull start after Dow sell off
2nd Sep 2009 08:46
The gloomy start to September has continued with talk of another big bank fund raising encouraging sellers. Lloyds is the worst performer after the Guardian reported it has won backing from its investors to raise £10bn to allow it make a partial withdrawal from the government's asset protection sch
Read moreLondon close: Footsie plunges after Wall Street reversal
1st Sep 2009 16:43
A sharp reversal in US stocks' fortunes ensured Footsie finished deep in the red after abruptly giving up an attempt to climb into positive territory. Miners were weak on lower metals prices, with Kazakh pair ENRC and Kazakhmys among the worst hit. Lower metals prices also hurt the likes of Antof
Read moreLondon afternoon: Footsie still stuck after plunge
1st Sep 2009 14:41
There has been little change in the FTSE 100 since it abruptly took a downward turn this morning Kazakh resources group ENRC is leading the mining sector lower, closely followed by fellow Kazakh operation Kazakhmys. Lower metals prices are also hitting the likes of Antofagasta, Anglo American, Lon
Read moreClimate protesters glued to RBS HQ
1st Sep 2009 13:22
Protesters angry at Royal Bank of Scotland's funding of fossil fuel projects have superglued themselves together on the trading floor of its London headquarters. About a dozen Climate Camp demonstrators disguised as construction workers gained access to the second floor of the building in Bishopsga
Read moreLondon midday: Banks and miners lead retreat
1st Sep 2009 12:16
Banks and miners are dragging the market lower and have pushed the Footsie below the 4,900 level. Kazakh resources group ENRC is leading the mining sector lower, closely followed by fellow Kazakhi operation Kazakhmys. Lower metals prices are also hitting the likes of Antofagasta, Anglo American, L
Read moreLondon afternoon: Back in the blue
27th Aug 2009 14:27
The London stock market continues its see-saw day, moving back into positive territory over the lunch-time session. Some encouragement was drawn from the CBI's distributive trades survey which found that the balance of retailers expecting a deterioration in their general business situation over the
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