London close: Stocks rise as BoE keeps rates on hold
21st Mar 2024 16:33
(Sharecast News) - London markets closed higher on Thursday, sustaining gains after the Bank of England adhered to expectations by maintaining interest rates at a 16-year high.
Read moreNationwide, Virgin Money agree terms of £2.9bn deal
21st Mar 2024 07:52
(Sharecast News) - Virgin Money has formally agreed to be taken over by Nationwide Building Society in a £2.9bn deal.
Read moreSunday newspaper round-up: Nationwide, Direct Line, Rolls-Royce
17th Mar 2024 22:57
(Sharecast News) - Nationwide's bid to create the UK's second-largest savings and loans group by taking over Virgin Money may be derailed if its members get a say on whether the deal goes through or not. It would take just 500 Nationwide members depositing £50 each one to convene a special meeting and ask for a vote on the deal. Furthermore, preparations for a vote would keep Nationwide from meeting the 4 April deadline for making a binding offer under Takeover Panel rules. However, the society says that its existing legal advice is that no vote is required. - Financial Mail on Sunday
Read moreCiti downgrades Virgin Money to 'neutral' after Nationwide offer
11th Mar 2024 08:09
(Sharecast News) - Citi downgraded its stance on Virgin Money on Monday to 'neutral'/high risk from 'buy'/high risk after the shares surged on news that Nationwide Building Society had offered to buy the group in a £2.9bn deal.
Read moreLondon close: Stocks finish firmer as US jobless claims rise
7th Mar 2024 15:29
(Sharecast News) - London markets closed with modest gains on Thursday, after higher-than-expected jobless claims figures from the US, and a flurry of corporate news in the UK.
Read moreNationwide to buy Virgin Money in £2.9bn deal
7th Mar 2024 07:56
(Sharecast News) - Virgin Money said on Thursday that it has agreed to be taken over by Nationwide Building Society in a £2.9bn deal.
Read moreVirgin Money to buy Abrdn's stake in joint investment business for £20m
14th Feb 2024 11:32
(Sharecast News) - Virgin Money said on Wednesday that it has agreed to buy Abrdn's stake in their joint investment platform for £20m.
Read moreLondon close: Stocks manage gains as oil prices rise
6th Feb 2024 17:39
(Sharecast News) - London's financial markets finished with a positive performance on Tuesday, driven by encouraging data from the UK construction sector and BP's share buyback expansion.
Read moreVirgin Money delivers solid Q1, sees improving mortgage market
6th Feb 2024 07:12
(Sharecast News) - Banking group Virgin Money UK said it has delivered a first-quarter performance in line with guidance with growth in new accounts, deposits and target lending activities at stable margins.
Read moreLondon close: Stocks make small gains on quiet Thursday
23rd Nov 2023 16:09
(Sharecast News) - London's stock markets saw a positive turnaround by the end of the day on Thursday despite subdued trading activity due to the Thanksgiving holiday in the United States.
Read moreVirgin Money UK confident after fall in full-year profits
23rd Nov 2023 10:11
(Sharecast News) - Virgin Money UK reported a 42% fall in statutory profit in its full-year results on Thursday, to £345m, as its underlying profit on ordinary activities fell 24% to £592m.
Read moreUK banking stocks are undervalued, says Shore Capital
18th Aug 2023 10:22
(Sharecast News) - Shore Capital has reiterated its 'buy' ratings on six UK-listed banking stocks, saying the market is currently pricing in a "far worse outlook".
Read moreVirgin Money lifts bad debt provisions; Q3 NIM rises
2nd Aug 2023 07:49
(Sharecast News) - UK bank Virgin Money on Wednesday said it had lifted provisions for bad debts as customers struggled to meet credit card payments amid the cost of living crisis, while also unveiling plans for a £175m share buyback this financial year.
Read moreUK bank pass annual stress tests, says BoE
12th Jul 2023 07:21
(Sharecast News) - Eight major UK banks have passed annual capital stress tests and were well positioned to support households and businesses through a period of rising interest rates, the Bank of England said on Wednesday.
Read moreVirgin Money interim profits fall on higher impairment charge
4th May 2023 07:02
(Sharecast News) - Shares in Virgin Money slumped on Thursday as the challenger bank posted lower first-half profits due to an increase in impairment charges for bad debts and higher investment costs.
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