FTSE 100 movers: Miners dominate fallers
17th Aug 2009 12:50
Shares in Fresnillo dropped after the silver miner saw revenue slide in the first half of 2009 by 10.7% from a year earlier to $378.9m, as the realised silver price over the period dropped 21.9% to $13.92. Earnings before interest, tax, depreciation and amortisation eased 4.1% to $203.4m. Attributa
Read moreFSA reviews RBS acquisition of ABN
17th Aug 2009 09:46
The Financial Services Authority is investigating Royal Bank of Scotland's (RBS) acquisition of ABN Amro and its £12bn rights issue. The inquiry was mentioned in a footnote in RBS's interim results. "In April 2009 the FSA notified the group that it was commencing a supervisory review of the acquis
Read moreSunday's newspaper round-up: BAT, bonus culture, Pearl
16th Aug 2009 14:04
Richard Burrows, a former governor of the Bank of Ireland, is to take on one of the most powerful roles in British business. He is to become chairman of British American Tobacco, says the Sunday Times. The scale of the resurgent bonus culture at Britain's banks has been laid bare by Office of Natio
Read moreRBS pays new stars footballer salaries
13th Aug 2009 10:03
Government-owned lender Royal Bank of Scotland has splashed out over £10m on hiring two bankers, infuriating politicians anxious to clamp down on excessive pay and bonuses. RBS, 70% owned by the taxpayer after last year's multi-billion pound bail-out, is paying a mouth-watering £7m for one year's w
Read moreThursday newspaper round-up: RBS, Citigroup, UBS
13th Aug 2009 06:12
Royal Bank of Scotland, which is 70% taxpayer-owned, has spent more than £10 million hiring two bankers, in a move that may further inflame the row over City bonuses, says the Times. RBS has poached Antonio Polverino, a star banker from Merrill Lynch, on a £7 million one-year package. Its new finan
Read moreLondon close: Stocks near session high
12th Aug 2009 16:14
Footsie closed near a session high on Wednesday as London's top stocks continued to add to gains in afternoon trade, with banks among the best performers. Lloyds Banking finished up more than 6%, closely followed by fellow part-nationalised lender Royal Bank of Scotland . The FSA unveiled a new co
Read moreLondon afternoon: Gains trimmed
12th Aug 2009 14:10
London is clinging onto positive territory as Wall Street gears up for a slow start ahead of tonight's Federal Reserve policy statement. Banks continue to do well. Royal Bank of Scotland agreed to sell its Pakistan unit to MCB Bank for $87m (£53m). The UK lender, 70%-owned by the British governmen
Read moreLondon midday: Footsie rallies despite BoE caution
12th Aug 2009 12:16
Footsie has rallied despite a mixed morning for UK economic news with unemployment hitting a new 14-year high and low key comments about UK recovery from the Bank of England. In the central bank's quarterly inflation report, Bank governor Mervyn King said the sustainability and strength of any reco
Read moreLondon open: Dull start for Footsie
12th Aug 2009 08:45
London's leading share index is in reverse gear again as the banks drift lower with miners also weak after BHP Billiton's figures and four Rio executives being charged with bribery by China. Full-year profits have halved at miner BHP Billiton as the recession slashed volumes and sent prices tumbli
Read moreLondon pre-open: Flat start expected
12th Aug 2009 07:47
A flat start is expected from London's leading share index after yesterday's losses. Full-year profits have halved at miner BHP Billiton as the recession slashed volumes and sent prices tumbling, although restocking and improving demand is brightening the outlook. The world's largest mining company
Read moreRBS offloads Pakistan business
12th Aug 2009 07:33
Royal Bank of Scotland (RBS) has agreed to sell its Pakistan unit to MCB Bank for $87m (£53m). The UK lender, 70%-owned by the British government, said it has reached agreement in principle for the sale of its 99.37% to Pakistan's largest bank. The deal is expected to complete in the fourth quarte
Read moreLondon close: Weak US drags down Footsie
11th Aug 2009 16:32
Footsie finished the day firmly in the red despite a bright start as banks weighed on the leading share index and a poor start in the US compounded earlier losses. While there was little US company news, stocks were hit by analyst downgrades on companies such as Yum Brands, which owns fast food cha
Read moreLondon afternoon: US slump spreads to Footsie
11th Aug 2009 15:37
Footsie has plunged further into the red in line with a poor performance on Wall Street. While there was little US company news, stocks were hit by analyst downgrades on companies such as Yum Brands, which owns fast food chains such as Pizza Hut, and mobile phone group Sprint Nextel. Banks are wea
Read moreLondon midday: Footsie struggles as banks dip
11th Aug 2009 12:07
Footsie has slipped into the red as results and takeover can't offset another day of weakness in the banking sector. Banks are weak after the FT is reported that Lloyds Banking's tentative plans to raise an estimated £15bn-£20bn in a rights issue to reduce its reliance on the government face a wall
Read moreLondon open: Solid start for blue chips
11th Aug 2009 08:26
London's blue chips have opened stronger than expected higher on a couple of decent results and the confirmation of Friends Provident's and Resolution's tie-up. Clive Cowdery's insurance investment vehicle Resolution will be catapulted into the FTSE 100 index after life insurer Friends Provident ac
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