London open: Banks cure Shell shock
29th Oct 2009 08:34
UK blue chips continued yesterday's poor form, falling further in early deals as Shell disappointed with a 73% plunge in quarterly profits, but recovering financial plays soon erased the deficit. Royal Dutch Shell's third quarter earnings crashed to just $3bn from $10.9bn a year ago on a current co
Read moreLondon close: Footsie suffers reversal of fortunes
26th Oct 2009 16:21
Stocks had looked like making a decent start to the week, but a dramatic and sudden sell-off on Wall Street quickly sent London into the red. The Dow Jones turned an early three-digit gain into a 100-point loss as US analyst Dick Bove downgraded Fifth Third Bancorp, SunTrust Banks and US Bancorp.
Read moreLondon afternoon: Stocks get lift from Wall Street
26th Oct 2009 14:20
After crawling higher throughout the morning session London's leading shares received a boost from a firm start on Wall Street. The market is buoyant despite weakness in the banking sector, where the market is holding its breath for the anticipated cash call by Lloyds Banking. Elsewhere in the sect
Read moreTuesday tips round-up: Standard Chartered, Lonmin, Tesco
6th Oct 2009 06:44
Asian markets are likely to recover faster than Western economies - and this is where Standard Chartered is strong. There are concerns that the group may issue more shares in the next 18 months to fund its growth plans, but if this happens the group is likely to use its funds wisely. The bank is h
Read moreThursday newspaper round-up: Bankers' bonuses, Northern Rock
1st Oct 2009 05:51
A divide has already emerged between Europe and the US over how to implement new Group of 20 rules on bankers' bonuses, with British banks facing a stricter regime than is likely to apply in the US. The UK government on Wednesday night rushed out a statement trumpeting the agreement of Britain's t
Read moreUK banks agree to limits on bonuses
30th Sep 2009 17:44
The five biggest banks in Britain will enforce the limits on bonuses agreed by world leaders at the G20 summit in Pittsburgh last week, UK chancellor Alistair Darling said today. Barclays, HSBC, Lloyds, RBS and Standard Chartered have all signed up and will hope overseas rivals follow suit. Darlin
Read moreBroker tips: Next, Cape, UK banks
16th Sep 2009 12:46
KBC Peel Hunt is contemplating upgrading its target price, earnings forecasts and rating for Next after the fashion retailer's impressive interim results on Wednesday morning. The broker expects consensus forecasts for full year pre-tax profit are likely to rise as a result of the half-year update,
Read moreBroker snap: Book profits on banks, Nomura says
16th Sep 2009 11:55
Broker Nomura Securities has warned that shareholders in UK banks should be wary of the potential for a reversal in the sector and advises banking profits. 'The domestic UK banks have rebounded to valuations of 1.4x book value, with the Far Eastern banks on 2.2x. Consequently, we advocate booking s
Read moreLondon open: Quiet start for Footsie
1st Sep 2009 08:54
It has been a very quiet start to the post-bank holiday weekend with news at a premium and what has come out largely small cap focused. Asia-focused bank Standard Chartered has agreed to sell its entire 14.85% stake in BC Card to Korean private equity firm Vogo Fund and its affiliates for an undis
Read moreLondon pre-open: Cautiously lower
1st Sep 2009 07:40
While bourses on the European mainland set about clawing back some of the losses suffered yesterday London, which was closed yesterday, looks set to open lower with traders predicting the FTSE 100 will open around 7 points lower at 4,901. Asia-focused bank Standard Chartered has agreed to sell its
Read moreStandard Chartered to sell BC Card stake
1st Sep 2009 07:15
Asia-focused bank Standard Chartered has agreed to sell its entire 14.85% stake in BC Card to Korean private equity firm Vogo Fund and its affiliates for an undisclosed sum. Standard Chartered did not disclose any financial details of the agreement, but Vogo said in a separate statement that it wou
Read moreWednesday newspaper round-up: RBS, energy firms, General Motors
26th Aug 2009 06:48
The sale of Royal Bank of Scotland's retail and commercial assets in China has hit a stumbling block that could derail negotiations with preferred bidder Standard Chartered, according to people familiar with the matter, according to the Financial Times. Standard Chartered entered exclusive talks wit
Read moreLondon close: Footsie rally continues
25th Aug 2009 16:32
After an afternoon of see-sawing between the red and the blue, Footsie finished in positive territory and above the 4,900 point mark, continuing its rally. State-owned lender Royal Bank of Scotland finished with good gains after it said it will cut the level of benefits received by members of its
Read moreLondon afternoon: US data encourages Footsie
25th Aug 2009 15:11
A strong start on Wall Street is keeping London in the blue, just, with investors welcoming a bigger than expected jump in US consumer confidence. The leading index remains on course for a sixth consecutive day of gains after state-owned lender Royal Bank of Scotland said it will cut the level of b
Read moreFTSE 100 movers: Miners weigh on index
25th Aug 2009 14:12
Miners are still leading the blue chip fallers. Kazakhmys, Xstrata, Antofagasta, Eurasian Natural Resources, Rio Tinto, BHP Billiton and Randgold Resources are among the worst in the sector. Royal Bank of Scotland is topping the risers, while Standard Chartered is lower after the FT reported the s
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