FTSE 100 movers: Sports Direct and Coca-Cola recover after recent weakness
24th Sep 2013 15:23
FTSE 100 newcomers Sports Direct and Coca-Cola HBC were performing well, rebounding after their recent weakness since entering the top-tier index. Banking stocks were also providing a lift, with Barclays and RBS making gains. Lloyds meanwhile was benefiting from a ratings upgrade by Investec from '
Read moreRBS and Barclays sued in US over LIBOR rigging
24th Sep 2013 14:34
Royal Bank of Scotland (RBS) and Barclays are among 13 international banks being sued by the National Credit Union Administration (NCUA) for LIBOR rigging. The banks are accused of manipulating LIBOR, the benchmark for setting interest rates, which resulted in a loss of income from investments and
Read moreLondon midday: Market flat after German data comes in mixed
24th Sep 2013 11:30
Stocks were trading broadly flat on Tuesday morning with markets lacking direction after mixed economic data from Germany and concerns about the US economy. The German IFO business climate indicator for the month of September edged up only slightly, yet expectations for the next six months were sli
Read moreLondon close: Fed uncertainty, US debt ceiling weigh on stocks
23rd Sep 2013 16:27
Concerns about the US economy weighed heavily on global stock markets on Monday as investors focused on comments from Federal Reserve officials and the ongoing debt-ceiling debate. The FTSE 100 finished down 39.06 points on the day at 6,557.37. "Those of the opinion that stock markets have oversho
Read moreFTSE 100 movers: Croda jumps on upgrade from Credit Suisse
23rd Sep 2013 14:22
Chemicals firm Croda was in the top spot after Credit Suisse upgraded its recommendation from 'neutral' to 'outperform' and hiked its target price from 2,600p to 3,000p. Telecoms giant Vodafone also gained after UBS raised its target price for the shares from 230p to 245p after including Kabel Deut
Read moreLondon midday: Stocks lower on German elections, US debt ceiling
23rd Sep 2013 11:18
Elections in Germany, an uncertain outlook for Federal Reserve monetary policy and a debate over the US debt ceiling weighed on markets on Monday morning, as traders shrugged off upbeat data from China and the Eurozone. The HSBC/Markit flash purchasing managers' index (PMI) for China's manufacturin
Read moreLondon open: Stocks slip despite Merkel victory in German elections
23rd Sep 2013 08:04
Stocks slipped into the red on Monday morning as investors digested this weekend's elections in Germany along with the uncertain outlook for monetary policy in the US. German Chancellor Angela Merkel's CDU/CSU party won 41.5% of the vote in the federal elections this weekend after winning 311 seats
Read moreSunday newspaper round-up: Wage growth, RBS, BP
22nd Sep 2013 16:08
The first sign of private sector wage growth will be revealed in the week starting September 23rd, when the Federation of Small Businesses (FSB) releases survey results, the Sunday Telegraph said. The FSB's research found that half of small firms are planning to increase workers' pay over the next 1
Read moreLondon close: Stocks hit by Bullard comments as post-Fed rally fades
20th Sep 2013 16:39
The exuberant post-Fed mood quickly faded on Friday with comments from one US policymaker dampening stocks before the close of trade. Risk appetite was also scaled back as caution set in ahead of the German elections at the weekend with the outcome still highly uncertain. The FTSE 100 finished 28.
Read moreSector movers: Miners, banks fall as investors scale back risk
20th Sep 2013 13:57
The mining and banking sectors were the worst performing categories on Friday afternoon as traders scaled back risk appetite going into the weekend. With the excitement of the surprise Federal Reserve decision now over - cyclical stocks gained strongly on Thursday after the central bank held off fr
Read moreLondon midday: Stocks pause ahead of German elections
20th Sep 2013 11:36
Stocks were trading broadly flat by Friday lunchtime as markets paused for breath in the aftermath of the Federal Reserve's surprise decision not to taper quantitative easing, though upside was limited ahead of the German elections this weekend. After a weak start, the FTSE 100 was more or less unc
Read moreRBS to reduce Direct Line stake by a further 20 per cent
20th Sep 2013 11:08
The Royal Bank of Scotland (RBS) has completed the sale of 300m ordinary shares in Direct Line Insurance, following its announcement late Thursday that it planned to sell as much as 20 per cent of its stake in the insurance provider. The group announced Friday morning that the shares were sold at
Read moreFriday broker round-up UPDATE
20th Sep 2013 08:06
African Minerals: Investec reduces target price from 393p to 246p, while its buy recommendation remains unchanged. Ashmore Group: Berenberg cuts target price from 500p to 470p and retains a buy recommendation. ASOS: Deutsche Bank raises target price from 4450p to 4800p and reiterates a hold recomm
Read moreFriday newspaper round-up: Buffett, RyanAir, Germany
20th Sep 2013 07:17
Billionaire investor Warren Buffett has compared the Federal Reserve to a hedge fund, as he supported keeping Ben Bernanke in charge of the US central bank. The 82-year-old, who has led Berkshire Hathaway for more than four decades, hailed the Fed's ability to make money from bond purchases as a res
Read moreThursday newspaper round-up: Fed, Housing bubble, Scotland
19th Sep 2013 06:52
The Fed cut its growth forecast and confounded expectations that it would start to slow its third round of quantitative easing as the rate-setting Federal Open Market Committee said it would "await more evidence that progress will be sustained before adjusting the pace of its purchases". The decisi
Read more