London midday: Banks hold back FTSE 100
24th Jan 2011 12:13
Shares are still seeking direction as banks fall back. The sector is weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled the mood. RBS
Read moreLondon open: Cautious start to week
24th Jan 2011 08:51
London is muddling along in the early exchanges despite the decent finish to last week on Wall Street. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems i
Read moreLondon pre-open: Week to start well
24th Jan 2011 07:36
A mixed performance in Asia this morning isn't going to upset London, which looks like posting modest gains early on following a decent finish to last week on Wall Street. Futures prices point to a 16-point lead for the FTSE 100 when trading gets underway. In company news, Standard Chartered has a
Read moreStandard Chartered buys Singapore's GE Money
24th Jan 2011 07:03
Standard Chartered has agreed to buy Singapore-based car and personal loans business GE Money for an undisclosed sum. The Asia-focused bank expects to complete the purchase of the GE Capital subsidiary, itself part of the consumer finance services unit of General Electric, sometime during the first
Read moreSector movers: Banks wanted as eurozone fears ease
12th Jan 2011 15:25
The banking sector is performing well Wednesday as eurozone debt contagion fears recede. HSBC is the best performing financial, helped by a "buy" recommendation from Barclays Capital, but fellow banks Standard Chartered and Barclays are also wanted. The sector responded positively to the outcome o
Read moreWednesday newspaper round-up: Banks, House prices, Standard Chartered...
29th Dec 2010 08:56
Banks are essential to the economic recovery, and the coalition must not succumb to the temptation to cast them as the enemy, the Government's growth czar has told The Times. Lord Heseltine mounted a strong defence of financial services and the City of London, making the politically unfashionable s
Read moreOsborne has to wait for bank bonus face-off
20th Dec 2010 08:53
The chancellor and business secretary's showdown with the banks has been postponed because of the weather. George Osborne, stranded in New York, and Vince Cable, had been due to threaten Britain's five largest banks with further taxation and regulation unless they water down this year's bonus round
Read moreMonday newspaper round-up: Bank bonuses, snow, BSkyB
20th Dec 2010 06:30
George Osborne and Vince Cable will today pile pressure on senior bankers by threatening tax rises and further regulations if they go ahead with another bumper round of bonuses. The Chancellor and the Business Secretary are meeting the chief executives of the five largest banks ? the Royal Bank of S
Read moreBroker tips: UK banks, Serco, Misys
16th Dec 2010 14:29
Nomura highlights the attractive valuations of EU banks, but says the sector is volatile and its preference if for northern European commercial banks over those in the south. According to Peace, southern European banks are under a greater earnings risk than the northern sector due mostly to the imp
Read moreBroker snap: North European banks get nod over the south
16th Dec 2010 12:08
Nomura highlights the attractive valuations of EU banks, but says the sector is volatile and its preference if for northern European commercial banks over those in the south. Analyst Jon Peace says the sector valuation is low after recent macro-related underperformance, and ongoing uncertainty surr
Read moreEU unveils bank bonus rules
10th Dec 2010 15:31
European Union banking supervisors have unveiled their final guidelines for controlling bankers' pay and bonuses, with few changes from the tough-talking original draft in October. The guidelines are part of the EU's drive to bring bonus payments into line with the risks bankers' are taking and wil
Read moreFTSE 100 movers: Miners head higher
10th Dec 2010 14:20
Strong Chinese export figures are pushing miners higher. Vedanta and Fresnillo are leading the way as investors expect Chinese demand for metals to rise. Peter Lynas will take over as BAE Systems finance director from George Rose when he retires at the end of March after 13 years in the role. Ly
Read moreLondon open: Footsie struggles for direction
10th Dec 2010 08:56
It's been a very quiet morning so far with little company news and even the eurozone front calming down a little. Standard Chartered is the worst performer with investors still a little unsettled by its admission yesterday that costs are rising faster than revenues. Rolls-Royce is another faller o
Read moreLondon close: Footsie clings to lead
9th Dec 2010 16:40
A weak morning session on Wall Street did London no favours Thursday, although the big banks helped the leading index to only its second close above 5,800 in over three weeks. Barclays, Lloyds and Royal Bank of Scotland were top of the pile. HSBC also did well, but fellow Asia-focused player Stand
Read moreFTSE 100 movers: Financials lead market higher
9th Dec 2010 13:07
Financials dominate the risers on the Footsie as the Bank of England keeps the base rate unchanged and confidence recovers in the global economy. Man Group and RBS are both more than 3% ahead on the day. Cobham is the best performer even though the defence group will be dropped from the index on 2
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