FTSE 100 movers: ENRC leads miners higher
3rd May 2013 15:05
Mining stocks were making decent gains as metals prices improved. ENRC was the standout performer on the back of reports Suleiman Kerimov, the Russian billionaire, has increased his stake in the miner. Also on the rise was newly merged commodities trader and mining giant Glencore Xstrata on its fi
Read moreBroker tips: RBS, Imperial, Direct Line
3rd May 2013 11:47
Shares in Royal Bank of Scotland (RBS) were under heavy selling pressure on Friday as the bank's first-quarter results are likely to prompt earnings downgrades to consensus estimates, according to Nomura which kept its 'reduce' rating and 300p target price for the stock. Nomura said: "On first look
Read moreLondon midday: Miners buoy Footsie ahead of US jobs data
3rd May 2013 11:43
Strength in the mining sector kept the FTSE 100 in positive territory on Friday morning, though the index was rangebound ahead of the all-important US jobs report due out this afternoon. A surprise drop in American jobless claims yesterday pushed the S&P 500 to a new all-time high last night as mar
Read moreBroker snap: Earnings downgrades in order at RBS, says Nomura
3rd May 2013 10:01
Shares in Royal Bank of Scotland (RBS) were under heavy selling pressure on Friday as the bank's first-quarter results are likely to prompt earnings downgrades to consensus estimates, according to Nomura which kept its 'reduce' rating and 300p target price for the stock. 'Clean' profit before tax (
Read moreLondon open: Markets up ahead of US jobs report, but RBS falls
3rd May 2013 08:38
London's FTSE 100 index opened broadly flat on Friday morning as a sharp fall from Royal Bank of Scotland (RBS) offset a strong performance in the mining sector. Investors were still digesting what has been a busy week for financial markets with monetary policy decisions from the Federal Reserve (F
Read moreLondon pre-open: Modest rise forecast for FTSE ahead US jobs data
3rd May 2013 07:19
City sources predict the FTSE 100 will open up five points from yesterday's close of 6,461, ahead of an announcement from the US on monthly employment data which is widely expected to show the economy is dragging. The stall is expected despite Thursday's news that initial jobless claims for the we
Read moreRBS disappoints despite bottom-line improvement - UPDATE
3rd May 2013 07:01
Royal Bank of Scotland (RBS) saw its bottom line improve substantially in the first three months of 2013 as the preceding quarter was hit by a number of one-off costs, however shares dropped sharply on Friday morning after both profits and revenues came in below expectations. The group reported an
Read moreFriday newspaper round-up: RBS, Barclays, Shell...
3rd May 2013 06:26
"Royal Bank of Scotland is poised to send the clearest signal yet that it is ready for the government to begin reprivatising its majority stake," writes the Financial Times. The paper says that the bank is expected to announce plans for a share sale that could start as soon as next year. According
Read moreFriday preview: RBS unveils first-quarter results
2nd May 2013 14:56
Royal Bank of Scotland (RBS) is expected on Friday to report a "very weak performance" for the first quarter of 2013 and slow recovery thereafter, according to analysts at Investec. The state-backed lender's attributable profit for the first three month of the year is estimated to come in at £0.1bn
Read moreBusiness Secretary denies interfering in RBS lawsuit
1st May 2013 12:53
Business Secretary Vince Cable has rejected claims he tried to influence legal proceedings against directors of Royal Bank Scotland (RBS) in relation to the lender's 2008 taxpayer rescue. Cable reportedly wrote to prosecutors calling for a decision as quickly as possible about the lawsuit, which w
Read moreWednesday newspaper round-up: ENRC, Apple, Chinese manufacturing...
1st May 2013 06:20
According to the Financial Times, the UK Listings Authority has launched an investigation into ENRC possible breaches of its takeover rues that could result in a fine or public censure. "The irony of the move is that the UK Listings Authority has been criticised for permitting ENRC to list in the UK
Read moreLondon close: Stocks fall as markets await Fed, ECB
30th Apr 2013 16:46
A disappointing reading of business activity in the States sparked a late sell-off on UK financial markets on Tuesday afternoon as traders turned nervous ahead some key risk events later this week. The Chicago purchasing managers' index (PMI), one of the leading economic indicators in the US, dropp
Read moreFTSE 100 movers: Lloyds rises after Q1 results impress
30th Apr 2013 15:31
Markets gave a positive reaction to first-quarter results from banking giant Lloyds, with the stock rising sharply after profits came in slightly ahead of consensus estimates and the company reduced its full-year cost guidance. Sector peer RBS was also in demand ahead of its interim management sta
Read moreLondon midday: Markets pause ahead of central-bank decisions
30th Apr 2013 11:45
Corporate earnings in London were taken well by the market on Tuesday morning with Lloyds, BP and Imperial Tobacco all on the rise, but the FTSE 100 was broadly flat by lunchtime as traders turned cautious ahead of central-bank decisions later this week. London's benchmark index has now risen by ar
Read moreLondon open: Stimulus hopes drive gains early on
30th Apr 2013 09:13
Strong gains for BP, Whitbread and financials stocks ensured that the FTSE 100 was firmly in positive territory on Tuesday morning as traders showed optimism ahead of central-bank meetings later this week. Sentiment across Europe was lifted early on after Swiss banking giant UBS smashed profit expe
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