Standard Chartered seeing double-digit growth
28th Jun 2011 07:54
Emerging markets banking leviathan Standard Chartered said that it has continued to build on the strong start it made to the year, with income and profit both showing double-digit percentage growth year-on-year at the end of May. Income in the first six months of 2011 is currently expected to grow
Read moreFTSE 100 movers: Man Group leads the recovery
22nd Jun 2011 15:33
Hedge fund manager Man Group is the high riser of the day, pulling the Footsie back into positive territory, after some kind words from Credit Suisse. Man is "moving in the right direction", according to the Swiss brokerage, who upgraded the firm from a 'neutral' to an 'outperform' rating. "Clearly
Read moreFriday newspaper round-up: Greece, Standard Chartered, Santander
17th Jun 2011 06:04
The economic crisis in Greece threatens the survival of the euro, the common destiny of Europe and its peace and stability, President Sarkozy of France said yesterday. Europe's two most powerful leaders, Mr Sarkozy and Angela Merkel, the German Chancellor, meet today to try to save the single curren
Read moreLondon close: Miners dominate fallers as global worries continue
16th Jun 2011 16:45
Global growth worries dampened the markets on Thursday as all but a few constituents on the FTSE 100 finished in the red. While the Footsie edged higher in the late afternoon, it still closed under the 5,700 level, a level not seen since mid-March. FTSE 100 closed down 44 at 5,699. A lack of clarit
Read moreLondon close: Glencore drags Footsie 1% lower
15th Jun 2011 16:39
The blue chip index slipped further into the red on the back of a poor start on Wall Street as economic data disappointed. US May consumer price index came in ahead of forecasts, rising 0.2%. While the Federal Reserve Bank of New York manufacturing sector index fell to a reading of -7.79, from 11.9
Read moreFTSE 100 movers: Glenore dismisses rumours, shares drop
15th Jun 2011 14:08
Glencore is the worst performing stock on the blue chip index as of Wednesday afternoon. In a brief statement in response to press speculation, the commodities trader stated that it is not actively considering an offer for Kazakh mining company Eurasian Natural Resources Corporation (ENRC). The offi
Read moreBritish banks face ring-fence between retail and investment arms
15th Jun 2011 10:36
British banks are to be forced to ring-fence their retail and investment operations. The idea is to protect high street bank customers losing their savings if investment bankers suffer heavy losses, as they did during the financial crisis of 2008. The Chancellor of the Exchequer, George Osborne, i
Read moreFTSE 100 movers: Outsourcers improve on gains
31st May 2011 14:44
Serco, the outsourcing company whose activities include running prisons and London's Docklands Light Railway, has announced the acquisition of India-based service provider Intelenet for up to £385m, boosting shares higher on Tuesday. Prime Markets thinks that the purchase will "safely propel" Serco
Read moreBroker tips: Standard Chartered, Serco, Tate & Lyle
31st May 2011 12:31
Standard Chartered has been upgraded to a 'buy', from 'neutral', by Nomura, which says that the Asia-focused bank is delivering growth in a challenging environment. "For investors looking for top-line growth within a UK & European banks sector where growth is often a scarce commodity, we believe th
Read moreBroker snap: Standard Chartered upgraded to 'buy'
31st May 2011 10:57
Standard Chartered has been upgraded to a 'buy', from 'neutral', by Nomura, which says that the Asia-focused bank is delivering growth in a challenging environment. "For investors looking for top-line growth within a UK & European banks sector where growth is often a scarce commodity, we believe th
Read moreSector movers: Burberry lower ahead of results
25th May 2011 15:52
Burberry, the luxury fashion brand, is dragging the personal goods sector lower. The group is due to report its final results on Thursday, and revealed in April that it expects profits for the year to 31 March to be at the top end of forecasts, after a strong final quarter. Shares have risen by ar
Read morePremier Farnell names new chairman
25th May 2011 08:31
Valerie Gooding, the former chief executive of health insurance firm BUPA, is to be the new chairman of Premier Farnell, the electronic and industrial components distributor. Gooding, who will give up her non-executive directorship on the board of supermarket group Sainsbury when she moves into the
Read moreLondon open: Miners weigh on FTSE 100
4th May 2011 08:32
The top share index is demonstrating how it at the mercy of the global economy today, with a strong showing from the retail sector failing to offset weakness in miners as commodity prices fall. Next is higher after warm weather and the royal wedding holiday had shoppers flocking to its stores in th
Read moreLondon pre-open: Equities on the back foot
4th May 2011 07:42
Leading stocks are set to open lower, with City traders suggesting the blue-chip index may take a 40 point tumble at the outset, though corporate news flow should provide some bright spots. Asian markets-focused banking group Standard Chartered released an upbeat trading statement in which it said
Read moreStandard Chartered keeping lid on costs
4th May 2011 07:07
Asian markets-focused banking group Standard Chartered released an upbeat trading statement covering the first quarter in which it said its Consumer and Wholesale banking divisions had started the year in fine form. The group is seeing double digit income growth in comparison with the first quarter
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