London close: 'Ill wind' blows in from across the Atlantic
3rd Apr 2013 17:04
Markets have ended firmly lower on the day, in reaction to mixed economic data out Stateside and despite strong economic data in China. As well, company-specific news weighed on index heavy-weights Vodafone and RBS. All of the above came on the back of a nervous atmosphere ahead of central bank
Read moreRBS sued for up to four billion pounds by shareholder group
3rd Apr 2013 10:57
A shareholder group has begun legal proceedings against Royal Bank of Scotland Group and four former directors for up to four billion pounds in compensation. The RBOS Shareholder Action Group has launched a class action lawsuit demanding compensation for losses resulting from the bank's £12bn right
Read moreWednesday newspaper round-up: BP, RBS, Stobart...
3rd Apr 2013 06:53
Oil major BP has put its US wind-power unit up for sale as it continues to pull back from renewable energy and turn to its core oil and gas business, according to the Financial Times. The paper says that its wind-power operations in the States could be worth 1.5bn pounds. Ahead of the planned flota
Read moreSunday newspaper round-up: RBS, Cyprus, Bedroom-tax
31st Mar 2013 16:26
It is understood that Royal bank of Scotland (RBS) will make even deeper cuts to its investment banking wing in an effort to meet the Bank of England's (BoE's) new financial policy committee's (FPC) target. The FPC last week called on lenders to raise 25bn pounds in new capital to offset any potenti
Read moreRBS sued by shareholders over rights issue
28th Mar 2013 12:11
The Royal Bank of Scotland (RBS) is being sued by investors for millions of pounds of losses sustained in 2008, according to reports Thursday. A total of 21 financial institutions, including the pension funds for miners and electricity workers, are seeking full compensation over the bank's decision
Read moreThursday newspaper round-up: Great Western, BP, Centrica...
28th Mar 2013 06:52
The Telegraph says that four of the UK's largest train operators - Arriva, FirstGroup, National Express and Stagecoach - have dropped lawsuit worth 40m pounds against the government to recover costs during the franchises process for Great Western that was scrapped earlier this year. The Clair proje
Read moreLondon close: Stocks weighed down by Eurozone concerns
27th Mar 2013 17:31
Political wrangling in Italy and uncertainty in Cyprus resulted in a volatile day for London's FTSE 100 index on Wednesday, though stocks bounced well off their lows in afternoon trade. The Footsie dropped to an intraday low of 6,344 at midday, but had recovered to 6,388 by the close, tracking a sl
Read moreRBS responds to Bank of England's capital shortfall warning
27th Mar 2013 15:43
The Royal Bank of Scotland (RBS) said its capital position was strong after the Bank of England warned major UK banks need to fill a 25 billion pound capital shortfall. "RBS has a strong capital position (...) we will continue to work with our regulators to ensure RBS remains at the forefront of in
Read moreFTSE 100 movers: TUI Travel's bookings push shares higher
27th Mar 2013 14:43
TUI Travel led the FTSE 100 race Wednesday after the tour operator said bookings were up. The owner of Thomson and First Choice revealed winter sales were up 2.0% in total, while summer UK and Nordic bookings rose 9.0%. Lloyd's is higher after analysts at Citi reiterated their 'buy' recommendatio
Read moreLondon midday: Financials provide a boost after 11th-hour deal in Cyprus
25th Mar 2013 11:35
Financial stocks were performing well on Monday morning, pushing the FTSE 100 one per cent higher, following Cyprus' 11th-hour deal with the Troika to save itself from financial collapse. "Cyprus has avoided becoming the first country to default on its debt and exit the Eurozone, after agreeing on
Read moreBroker tips: ARM, RBS, Aberdeen
25th Mar 2013 11:26
Shares in chip designer ARM Holdings surged on Monday morning on the back of comments from Bank of America Merrill Lynch on the potential of its 'big.LITTLE' energy-saving technology. "We reiterate our 'buy' rating and believe that the recent share-price weakness provides a particularly attractive
Read moreBroker snap: Goldman upgrades RBS on potential upside
25th Mar 2013 09:11
Goldman Sachs has taken Royal Bank of Scotland off its 'sell' list, saying that the expected earnings dilution from potentially higher capital regulations is already priced in to the stock. The broker explained that earnings dilution risk at both RBS and Lloyds has risen over the past few months, w
Read moreLondon open: Markets rise on last-minute deal to save Cyprus
25th Mar 2013 08:20
Stocks advanced strongly on Monday morning after 11th-hour talks to save Cyprus from default resulted in a last-minute bailout deal with the Troika. "Markets clearly appear to be more hopeful than they ought to be on the Eurozone muddling through this crisis - this would suggest that any potential
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreLondon midday: Markets cautious on critical day for Cyprus
22nd Mar 2013 11:47
European stocks were making moderate gains on Friday morning but the mood on financial markets was cautious with the focus firmly on Cyprus ahead of pivotal day for the country's future in the Eurozone. According to government spokesman Christos Sylianides this morning, the "next few hours" are key
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