London afternoon: Banks and miners retreat
25th Jun 2009 14:27
Leading equities drift lower in the afternoon session, led by banks and miners. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, however,
Read moreLondon midday: Prices drift lower
25th Jun 2009 12:13
Shares continue to drift lower despite expectations of a firm start on Wall Street. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, howe
Read moreFTSE 100 movers: RBS higher, Standard Chartered dips
25th Jun 2009 11:57
Royal Bank of Scotland got a boost from broker Cazenove, which has turned positive on the bank. Subscribing to the "less is more" dictum, Cazenove says the appeal of Royal Bank of Scotland (RBS) is that it intends to reduce in size, and it has plenty of assets outside its UK heartland that it can,
Read moreBroker tips: RBS, DSG, Micro Focus
25th Jun 2009 11:21
Royal Bank of Scotland, a day after The Banker magazine named it the worst performing bank in the world during 2008, has been given a boost by broker Cazenove, which has turned positive on the bank. Subscribing to the "less is more" dictum, Cazenove says the appeal of Royal Bank of Scotland (RBS) i
Read moreBroker snap: Less could be more at RBS
25th Jun 2009 09:56
Royal Bank of Scotland, a day after The Banker magazine named it the worst performing bank in the world during 2008, was sitting close to the top of the Footsie leaderboard in early trading on Thursday after broker Cazenove turned positive on the bank. Subscribing to the "less is more" dictum, Caze
Read moreThursday newspaper round-up: Xstrata, Anglo American, Stagecoach
25th Jun 2009 06:10
Xstrata stepped up its campaign to merge with Anglo American last night, taking its £41 billion merger proposal over the heads of Anglo's board to its shareholders. The Anglo-Swiss miner will intensify its charm offensive in the coming days, with Mick Davis, its chief executive, expected to meet the
Read moreTuesday newspaper round-up: Anglo American, Thomson Reuters, RBS
23rd Jun 2009 06:16
Anglo American, the global mining group, flatly rejected Xstrata's proposed all-share "merger of equals", putting itself at odds with several big investors as it labelled the offer from its Anglo-Swiss rival "totally unacceptable" reports the FT. Anglo's blunt rejection of the deal will put pressur
Read moreLondon close: Further losses after World Bank cuts forecast
22nd Jun 2009 16:55
Having endured a dull morning London's leading stocks pitched further into the red in the afternoon session after the World Bank cut its 2009 global growth forecast. British Airways was the biggest faller on arch rival Richard Branson's comments that it should be allowed to go bust if its financia
Read moreLondon afternoon: BA runs into turbulence
22nd Jun 2009 14:52
The Dow Jones has opened with a triple digit fall prompting a further softening of prices on this side of the pond. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and fin
Read moreLondon midday: Footsie struggles despite M&A burst
22nd Jun 2009 12:22
Footsie is struggling despite the possibility of a mega mining merger between Anglo American and Xstrata. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and financial fle
Read moreLondon open: Lower despite rush of bid activity
22nd Jun 2009 08:31
Footsie has opened lower despite a rush of possible mergers and takeovers including a £41bn mining tie-up. Swiss-based mining giant Xstrata has confirmed an approach to rival Anglo American over a possible merger, but so far has received a lukewarm response from the London-based, but South African
Read more£9.6m pay deal for new RBS chief
22nd Jun 2009 07:35
Royal Bank of Scotland chief executive Stephen Hester is set to be awarded a £9.6m pay and incentives package. The terms have already been agreed by UK Financial Investments, the body that runs the UK government's 70% stake in RBS, the FT reported this morning. Hester will earn an annual salary of
Read moreMonday newspaper round-up: Xstrata, Anglo American, Royal Bank of Scotland
22nd Jun 2009 06:14
Anglo American, the mining and natural resources giant, was rehearsing its defence last night against a £41bn merger approach from Xstrata, its Anglo-Swiss rival. Anglo American confirmed a merger proposal from Xstrata but was markedly unenthusiastic, emphasising that the situation "is at a very pr
Read moreLondon close: Footsie closes flat
18th Jun 2009 16:34
A late afternoon rally fizzled out to leave Footsie little changed after a volatile day. Economic stories dominated the news with mixed data in the UK offset by better than expected intial jobless figures in the US. UK mortgage lending eased in May from the month before and was 58% lower than the
Read moreLondon afternoon: US rally lifts Footsie
18th Jun 2009 15:03
Better than expected US dole queue figures have lifted Footsie in the afternoon session, despite very mixed economic data here at home. Mortgage lending eased in May from the month before and was 58% lower than the same time last year, figures showed today. The Council of Mortgage Lenders (CML) s
Read more