Tuesday newspaper round-up: Darling threatens banks over lending
28th Jul 2009 06:16
Alistair Darling has effectively threatened Britain's biggest banks with a competition inquiry should they fail to increase cheap lending to mortgage borrowers and small businesses. The Chancellor met the chief executives of seven of the country's biggest banks in the Treasury yesterday along with
Read moreLondon close: Footsie equals winning streak
27th Jul 2009 16:59
Though it was a close run thing the Footsie ended the day in the blue, equalling its record run of 11 successive days of rises. The blue-chip index was supported by a strong performance from miners and the part-nationalised banks. Lonmin was wanted after Goldman Sachs upgraded the stock to "neutr
Read moreLondon afternoon: Winning streak in danger
27th Jul 2009 14:34
Footsie has dipped back into the red, with sentiment taking a knock from Wall Street's soft opening. Were the Footsie to finish higher today it would equal a record streak of 11 successive days of gains. Pearson remains the best performer on a much better than expected trading update. The publishin
Read moreLondon midday: Pearson beats expectations
27th Jul 2009 12:07
Strong mining stocks are supporting the Footsie's quest to achieve a record breaking 12th successive day of gains today. Lonmin leads the mining sector higher after Goldman Sachs upgraded the stock to "neutral" from "sell". Kazakhmys and Antofagasta are the next best performers. Pearson remains th
Read moreDarling to quiz banks on business lending
27th Jul 2009 08:25
Britain's high street bank chiefs have been summoned to the chancellor's office today to explain their failure to re-start lending to small businesses despite receiving £37bn of taxpayer's money. Heads of Lloyds and Royal Bank of Scotland - the two state-controlled high street banks- will be joined
Read moreLondon open: Footsie on course for record streak
27th Jul 2009 08:20
London's winning streak continues with Footsie still firmly on course for a record-equalling eleventh straight day of gains. Twelve days of gains would make this streak the best ever for Footsie. Pearson is the best performer on a much better than expected trading update. Pearson upped its interim
Read moreSunday newspaper round-up: Rexam, Anglo American, National Express
26th Jul 2009 11:07
Rexam, the world's largest drinks can maker, will this week launch a £350m rights issue in a move aimed at preserving its investment grade credit rating. The fundraising will make Rexam the first to warn explicitly about the need to secure fresh capital in order to maintain its investment grade sta
Read moreLondon afternoon: Financials find favour
24th Jul 2009 14:11
Footsie eased back a little over the lunchtime session but thanks to firm financials the blue-chip index continues to shrug off this morning's gloomy data on gross domestic product (GDP). UK output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Of
Read moreTechnical Analysis: Banking sector testing resistance
24th Jul 2009 11:19
June 2007 seems a long time ago now, and it certainly has been a long time for the banking sector, because this was the last time that the value of the sector was above its 200 day moving average. It's certainly been a long hard slog but there does seem to be some light at the end of the tunnel, h
Read moreFriday newspaper round-up: FSA, Lloyds/RBS, National Express
24th Jul 2009 06:11
The world's biggest banks could be penalised with onerous surcharges, forcing them to set aside proportionately far more capital than smaller rivals, Lord Turner of Ecchinswell, chairman of the Financial Services Authority, suggested yesterday. Lord Turner, speaking after the FSA's annual meeting,
Read moreLondon close: Eighth day of gains
22nd Jul 2009 16:27
Footsie finished with gains for the eighth day in a row to sit just shy of 4,500 points after flitting between the red and the blue for much of the day. Mining stocks weighed down the market. BHP Billiton set the tone for the sector with its annual production report this morning. Quarterly (Apr-Jun
Read moreLondon afternoon: Treading water
22nd Jul 2009 14:18
The Footsie briefly moved into positive territory over the lunch time session before easing gently back into the red. Pharmaceuticals giant GlaxoSmithKline is marginally higher after a second quarter update in which it posted a fall in revenue in the second quarter as generic competition in the US
Read moreLondon midday: Shares pause for breath
22nd Jul 2009 12:07
Leading shares are mixed, with losses on miners and banks offset by gains on defensive favourites such as tobaccos and utilities. Mining giant BHP Billiton set the tone for the sector with its annual production report this morning. Quarterly (Apr-Jun) production increased for 12 major commodities
Read moreUK banks may need billions in extra capital
22nd Jul 2009 08:14
Tighter regulatory control over their investment bank arms could mean Royal Bank of Scotland and Barclays having to raise billions more in extra capital, banking analysts suggested yesterday, while Lloyds faces a mountain of bad debts. US broker JP Morgan calculates Barclays will need to find anot
Read moreWednesday newspaper round-up: UK debt, Barclays, Royal Bank of Scotland
22nd Jul 2009 06:19
The cash eaten up by interest payments on Government debt will more than double in the next four years as investors take fright at Britain's ballooning budget deficit, the country's leading independent forecaster has warned. Within four years, almost 9p in every pound of tax paid by British individ
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