London pre-open: London participates in global sell-off
3rd Aug 2011 07:46
Equity markets are in retreat worldwide, and London is no exception, with City traders tipping that the Footsie will open around 87 points lower. Disappointing US economic data has more than offset relief that the US debt ceiling law has been passed, and is overshadowing a busy morning for company
Read moreRecord profits again for Standard Chartered
3rd Aug 2011 06:34
Standard Chartered, the bank focused on emerging markets, topped market expectations with record first half profits for the ninth successive year. Half-year profits before tax of $3.64bn were up from $3.12bn the year before, and ahead of the $3.4bn predicted by Japanese broker Nomura Securities. N
Read moreWednesday preview: Standard Chartered, GKN, L&G ...
2nd Aug 2011 17:17
Banks results season continues with emerging markets-focused Standard Chartered shuffling into the spotlight on Wednesday at the unholy time of 5:30am (London time). Japanese broker Nomura - quite possibly the only broker likely to be awake when the figures come out - predicts first half profit bef
Read moreSector movers: Metals/mining stocks lower on economic concerns
2nd Aug 2011 13:48
The metals and mining sectors were unwanted on Tuesday on fears over the global economic recovery. Despite the successful passage through the US House of Representatives of the budget deficit reduction bill last night, many have pointed to recent disappointing global manufacturing data and the ongo
Read moreLondon open: Barclays boosts FTSE 100 but miners suffer
2nd Aug 2011 08:28
The top share index has edged higher amid a mixed reception for today's stream of company results. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in the first stage of a two-step process designed to avoid the country default
Read moreBroker tips: Standard Chartered, IAG, Aviva
1st Aug 2011 12:53
Nomura says that Standard Chartered's premium valuation is justified, and keeps its buy rating and 1,800p target price on the stock ahead of its first half results on 3 August. The broker expects the emerging markets banking giant to deliver $3.4bn in pre-tax profit on revenues of $8.65bn, represen
Read moreBroker snap: Buy Standard Chartered, suggests Nomura
1st Aug 2011 12:51
Nomura says that Standard Chartered's premium valuation is justified, and keeps its buy rating on the stock ahead of its first half results on 3 August. "The group's first half results come after a positive pre close statement in which the group indicated expectations of a strong result, including
Read moreLondon close: Late recovery not enough, Footsie ends 1% lower
29th Jul 2011 16:33
While the blue chip index still closed with moderate losses, a late partial recovery assured that the Footsie finished firmly above the 5,800 level - after dipping below at in the early afternoon - on reports that US politicians had drawn up a "rough agreement" in regards to the debt ceiling and def
Read moreSector movers: Lloyds drags banks lower after downgrade
29th Jul 2011 16:26
The banking sector was out of favour on Friday, dragged lower by FTSE 100 giant Lloyds. RBS downgraded Lloyds from buy to hold, saying that there appears to be a lack of catalysts for the shares in the near-term. "Given what looks to us like an overambitious top-line strategy, a tough economic back
Read moreLondon close: Footsie closes higher, despite afternoon sell-off
22nd Jul 2011 16:31
After a solid start on the back of positive developments in Europe, the Footsie trimmed gains in the afternoon as investors looked to lock in profits following a strong finish on Thursday. Despite touching as high as the 5,967 level before midday, the Footsie steadily declined to close at 5,935. Me
Read moreStandard Chartered eyes Piraeus Bank's Egyptian unit
15th Jul 2011 11:15
Standard Chartered confirmed that it has submitted a request to the Central Bank of Egypt to conduct its due diligence into the operations of Greece-based Piraeus Bank's Egyptian unit, indicating that it may consider acquiring the business. The Asian markets-focused banking group's confirmation fol
Read moreLondon close: Miners, banks finish strongly
28th Jun 2011 16:33
The Footsie was bolstered by a decent start on Wall Street, as US house prices rose for the first time in eight months. Furthermore, global market sentiment was buoyed ahead of a critical vote in Greece to approve austerity measures, vital for the country to receive financial aid. French president
Read moreFTSE 100 movers: Banks wanted as Greek fears ease
28th Jun 2011 14:35
The banking sector was lifting the FTSE 100 on Tuesday, as fears over the Greek situation eased. French president Nicolas Sarkozy announced an agreement with French banks to refinance holdings of Greek sovereign debt. "We concluded that by stretching out the loans over 30 years, putting (interest r
Read moreLondon midday: Stocks gain on euro hopes
28th Jun 2011 12:16
Stocks are still going well on hopes that the Greek crisis will soon be acted on. However, Cable & Wireless Worldwide is lower after saying chief executive Jim Marsh is to step down after the telecommunications group concluded profits are likely to fall short of previous expectations due to slower
Read moreLondon open: FTSE 100 moves higher, C&W Worldwide and Carpetright slump
28th Jun 2011 08:29
The FTSE 100 has climbed as investors await progress in troubled Eurozone member Greece, but gloomy updates C&W and Carpetright are reminding investors of the fragile state of our own economy. Cable & Wireless Worldwide's chief executive Jim Marsh is to step down after the telecommunications group
Read more