London close: Footsie stages late recovery
10th Aug 2012 16:47
After trading in the red for most of the day Footsie put in a late spurt in the last half hour to claw back most of the day's losses. Shares, and in particular miners, had been on the back foot after some disappointing trade data from China. Chinese exports grew 1.0% from a year earlier in July,
Read moreFTSE 100 movers: Market approves new Barclays Chairman
10th Aug 2012 14:46
Scandal-hit bank Barclays is to appoint City veteran Sir David Walker as its new Chairman. Walker will join the board on September 1st before replacing the outgoing Chairman, Marcus Agius, in November. Sector peer Standard Chartered, which has been embroiled in a scandal over its wholly-owned subsi
Read moreLondon midday: City approves of new Barclays Chairman
10th Aug 2012 11:54
Footsie bumbled along for most of the morning a little in the red, weighed down by mining stocks, which have been under selling pressure after weak Chinese trade data. The top-share index did briefly venture into positive territory around 11:00 but with US futures markets pointing to a soft opening
Read moreFitch keeping an eye on Standard Chartered
10th Aug 2012 08:55
Credit ratings agency Fitch has clearly mastered the art of stating the obvious as it has opined that alleged regulatory and legal violations by emerging markets focused bank Standard Chartered could be damaging to the bank's reputation. The investigation by US regulators is a "negative rating fact
Read moreLondon open: Chinese trade data depresses miners
10th Aug 2012 08:50
Mining stocks are weighing down the Footsie in early trade after weak Chinese trade data was released on Friday morning. Chinese exports grew 1.0% from a year earlier in July, which is not the sort of growth the market has become used to; economists had plumped for a growth rate of 8.6%. Imports,
Read moreFriday newspapers round-up: Barclays new Chairman, LIBOR, FSA
10th Aug 2012 06:45
Sir David Walker, former Deputy Governor of the Bank of England, and described by The Times as 'a veteran City grandee', has been named as the new Chairman of scandal-hit bank Barclays. His arrival caps a career that has included stints at the Treasury, Lloyds Bank, Legal & General and latterly Morg
Read moreLondon close: Footsie up, but Eurozone fears limit gains
9th Aug 2012 17:01
- FTSE 100 nudges higher for fifth straight gain - Cooling inflation in China boosts stimulus hopes - ECB cuts growth forecasts London's Footsie swung between gains and losses on Thursday as hopes of Chinese stimulus were offset by concerns about weak growth in the Eurozone; however, the benchmark
Read moreFTSE 100 movers: Standard Chartered continues to rebound
9th Aug 2012 13:07
Under-fire bank Standard Chartered was a high riser as it continues to rebound from its 16 per cent drop on Tuesday on the back of alleged dealings with the Iranian government. Gold miner Randgold Resources jumped after seeing profits surge in the first half of 2012 on the back of a record perform
Read moreLondon midday: Gains erased as ECB cuts GDP forecasts
9th Aug 2012 12:04
- ECB cuts growth expectations - Cooling Chinese inflation boosts stimulus hopes - Footsie pulls back from four-month high After a tentative start on Thursday, London's FTSE 100 swung into the red by lunchtime on concerns over European growth; however losses for the blue-chip index were only modest
Read moreLondon open: Footsie edges higher on Chinese stimulus hopes
9th Aug 2012 08:42
- Hopes of Chinese stimulus drive gains - DBRS downgrades Spain and Italy - Randgold rises after results, StanChart continues to rebound The FTSE 100 edged slightly higher on Thursday morning, maintaining a four-month high, as investors reflected on downgrades in the Eurozone and inflation data fro
Read moreThursday newspaper round-up: StanChart, Barclays, Chinese inflation...
9th Aug 2012 06:55
Standard Chartered has sought advice about whether it can pursue a legal action against the US regulator that on Monday accused the British bank of being a rogue institution which had funded $250bn of Iranian sanctions breaches. The bank's legal advisers believe "there is a case" for claiming reputa
Read moreLondon close: Stocks finish higher after late rally
8th Aug 2012 16:45
After an early fall, London's benchmark index rallied in afternoon trade to finish a few points higher, extending gains from the previous three sessions. The last time the FTSE 100 finished higher was on April 2nd when it hit 5,875. "Stocks and other risky assets have traded higher since Friday. C
Read moreBroker snap: StanChart rebound lifts banks higher
8th Aug 2012 16:23
Banking stocks were trading broadly higher on Wednesday as gains for heavyweight lender Standard Chartered were enough to offset weakness in the wider sector, with HSBC, Lloyds, Barclays and RBS trading in the red. Following a massive 16% tumble yesterday, emerging markets-focused bank StanChart wa
Read moreFTSE 100 movers: Standard Chartered heads back up
8th Aug 2012 15:36
Following a 16 per cent slump yesterday, emerging markets-focused bank Standard Chartered was leading the risers today. It was revealed yesterday that a US banking regulator accused it of collusion with the government of Iran to hide transactions from authorities. Rio Tinto, the mining and resourc
Read moreBroker tips: StanChart, Serco, AstraZeneca
8th Aug 2012 12:46
Credit Suisse has retained its cautious stance on under-fire lender Standard Chartered on the back of its struggles with US regulators in regards to its alleged dealings with the Iranian government. StanChart trades at 1.3 times full-year tangible net asset value for a 14-15% return on tangible equ
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