Goodwin to return half of RBS pension
18th Jun 2009 12:32
Former Royal Bank of Scotland chief executive Sir Fred Goodwin has agreed to hand back half of his lucrative pension. He will have his pension cut to £342,500 following months of talks with RBS chairman Sir Philip Hampton and UKFI, the body that looks after the taxpayer stakes in the bailed out ban
Read moreLondon midday: Economic data knocks retailers
18th Jun 2009 12:02
Leading shares drift lower after disappointing retail sales and weaker mortgage lending in May. The economic data proved to be a double-whammy for DIY retailers Home Retail and Kingfisher, which feature prominently among the main fallers. Elsewhere in the retail sector fashion chain Next and Currys
Read moreLondon open: Miners and banks on the rise
18th Jun 2009 08:17
Miners and banking shares are leading London's top stocks higher in early dealings following recent heavy falls. In the mining sector, Xstrata is the strongest performer, closely followed by Kazakhmys, Fresnillo and Antofagasta. Banks are also in demand, with both Royal Bank of Scotland and Lloyds
Read moreRBS boss Hester spies green shoots
17th Jun 2009 14:10
Royal Bank of Scotland boss Stephen Hester believes the global economy has turned a corner, but that it could be years before it's clear how much banks lost through loans secured against property. Talking to property industry bigwigs yesterday, Hester attributed the improvement to government action
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreLondon afternoon: Shares crawl higher
16th Jun 2009 14:19
London's blue-chip index edged higher over the lunch-time session, helped by expectations of a moderately firmer start on Wall Street. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of gro
Read moreLondon midday: Lloyds leads rally
16th Jun 2009 12:04
Footsie is making a valiant attempt to claw back yesterday's losses but its progress is being impeded by a weak mining sector. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in n
Read moreTechnical Analysis: Banks treading water
12th Jun 2009 11:02
Banks have again been in the spotlight this week with speculation growing about the government's withdrawal from ownership of large stakes of RBS and Lloyds as well as Northern Rock. Further adding to the mix has been Barclay's sale of its fund management arm to BlackRock for £8.1bn, and the upgrad
Read moreLondon close: Banks boost Footsie late
11th Jun 2009 16:33
London rallied strongly late on, helped by gains for banks, which outweighed profit taking among the big mining stocks and weakness among oil users as the price of crude rose again. Speculation is growing about the timing of the government's withdrawal from ownership of large stakes in Royal Bank
Read moreLondon afternoon: Banks in demand
11th Jun 2009 14:47
London is having a languid day, with Footsie lacking direction. Banks are strong but their gains are counterbalanced by losses on mining stocks. Banks are in focus as speculation grows about the timing of the government's withdrawal from ownership of large stakes in Royal Bank of Scotland (RBS), L
Read moreUKFI reportedly mulls RBS, Lloyds bond
11th Jun 2009 13:29
UK Financial Investments (UKFI), the government body managing Britain's stakes in Royal Bank of Scotland and Lloyds Banking, could reportedly sell an exchangeable bond in the two part-nationalised banks. According to the Telegraph, UKFI could recoup some of the taxpayer money invested in the lender
Read moreThursday newspaper round-up: RBS, Lloyds, Setanta
11th Jun 2009 06:05
The taxpayer could recover part of Britain's £70bn investment in the state-backed banks even before their share prices recover under plans being examined by UK Financial Investments, the Government body managing the stakes. John Crompton, the former Merrill Lynch banker in charge of the taxpayer's
Read moreLondon close: Miners buoy Footsie
10th Jun 2009 16:37
Footsie finished higher but with much diminished gains after surging in early dealings led by buoyant mining stocks then falling back as Wall Street retreated. Miner ENRC surged ahead after it said sales and production volumes during the first quarter were better than prior expectations though pri
Read moreLondon afternoon: Equities off the top
10th Jun 2009 15:06
Shares have eased back in the first half of the afternoon session, though Footsie remains in positive territory. Miners and banks remain the best performers. Miner ENRC surges ahead after it said sales and production volumes during the first quarter were better than prior expectations though pricin
Read moreFTSE 100 movers: Miners surge on commodity hopes
10th Jun 2009 12:51
Miners are buoyant today helped by optimism on metal demand, surging oil prices, a weak dollar and global recovery. ENRC is one of the main risers. It reported sales and production volumes during the first quarter were better than prior expectations though pricing pressures remain. Vedanta, Xstrata
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