London midday: Shares tread water
14th May 2009 11:54
It is back to square one for London's blue-chips, with gains on banks and miners cancelled out by losses on oils and telecoms giant BT. Banks suffered some profit taking earlier in the week but are bouncing back, helped by a research note on the sector from Morgan Stanley. The US investment bank ha
Read moreLondon close: Footsie takes a dive
13th May 2009 16:31
Footsie gave up its recent indecisive spell to dive into the red after an unexpected fall in US retail sales tempered recent talk that we are on the cusp of an economic recovery. Financial shares were the worst performers in London, not helped by disappointing trading updates from Legal & General a
Read moreLondon afternoon: US retail sales data jolts London
13th May 2009 14:28
Poor US retail sales figures prompted a quickening in the decline of blue-chip prices in London. US retail sales had been expected to rise in April but unexpectedly fell, bringing in to doubt hopes that the US economy is on the mend. Financial shares are the worst performers in London, not helped b
Read moreLondon midday: Miners and properties slide
13th May 2009 12:04
After a moderately firmer start, London's leading shares quickly turned lower in the morning session, with mining shares and properties weighing heavily on the FTSE 100 index. Property giant Land Securities saw its net asset value slashed by two-thirds in 2008 in what it described as 'unprecedented
Read moreLondon close: Banks hold back Footsie
12th May 2009 16:28
There was no shortage of company news to give Footsie direction but the index ended the day little changed as downbeat banks offset well-received updates. Royal Bank of Scotland, Lloyds Banking Group and Barclayseased after Credit Suisse suggested the margins of UK banks will come under pressure.
Read moreFTSE 100 movers: Credit Suisse knocks banks
12th May 2009 13:41
Credit Suisse unsettled the bank sector despite lifting its price targets on part-nationalised banks Royal Bank of Scotland and Lloyds Banking Group. Royal Bank of Scotland has had its target price increased from 25p to 30p, while Lloyds' price target is boosted to 65p from 45p, but both stocks hav
Read moreBroker tips: UK banks, Enterprise, Babcock
12th May 2009 13:06
Credit Suisse has upped its price targets on part-nationalised banks Royal Bank of Scotland and Lloyds Banking Group but the increased targets are still below both banks' current share prices. Royal Bank of Scotland has had its target price increased from 25p to 30p, while Lloyds' price target is b
Read moreTechnical Analysis: Banks running out of steam
12th May 2009 10:56
Since March the banking sector has undergone a significant turn around in fortunes. This turnaround must be put into context of its decline since 2007. Since the peaks of 11,696.30 in February 2007 the sector has plummeted over 85% peak to trough so it was inevitable that there would be a bounce at
Read moreBroker snap: Credit Suisse warns on banking margins
12th May 2009 10:01
Credit Suisse has upped its price targets on part-nationalised banks Royal Bank of Scotland and Lloyds Banking Group but the increased targets are still below both banks’ current share prices. Royal Bank of Scotland has had its target price increased from 25p to 30p, while Lloyds’ price target is b
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