THE LONDON REPORT August 5, 2009 The FTSE 100 closed down 0.5 per cent yesterday, after weaker than expected economic data in the US dragged equities lower, with oil producers and miners leading the losers. The index ended 24.24 points lower at 4,647.13, shy of Monday’s close when it hit its best closing level since the collapse of Lehman Brothers late [...]
IT’S OFFICIAL: BANK PROFITS ARE BACK August 2, 2009 BRITAIN’S biggest banks will this week herald a return to the gilded banking days of old as they post bumper interim profits, despite the impact of their mounting bad debts. Barclays is this morning expected to reveal a first-half pre-tax profit of £3.5bn, boosted by a stellar performance in its investment banking division, Barclays Capital, [...]
Fears over pace of economic recovery see FTSE stumble August 17, 2009 THE FTSE 100 fell 1.5 per cent by the close yesterday with mining, oil and banking stocks leading the losers, as global markets retracted amid concerns over the pace of global recovery. The index closed 68.96 points lower at 4,645.01, extending losses from Friday when it shed 0.9 per cent and marking its biggest one [...]
ANZ favourite in race for RBS Asia operations May 27, 2009 AUSTRALIA and New Zealand Banking Group (ANZ) moved into pole position to clinch a deal for Royal Bank of Scotland’s (RBS) Asian assets after rival bidders HSBC and Standard Chartered failed to come up with firm bids. ANZ said it had submitted a non-binding bid for the assets and is raising up to A$2.85bn (£1.38bn) [...]
Experian sales rise despite slowdown July 13, 2009 CREDIT information firm Experian yesterday said total revenue growth for the first quarter was up one per cent and its businesses traded in line with expectations, despite tough trading conditions. Experian, best known for running consumer credit checks for banks, said total growth in the three months to end-June was up 1 per cent at [...]
Rally ends as weak miners nudge FTSE down slightly August 10, 2009 THE FTSE 100 edged down yesterday, with investors booking profits from hefty gains in miners and banks last week, while the market searched for direction as the earnings season tailed off. The index ended down 0.2 per cent, or 9.36 points at 4,722.20, not far from a 10-month closing high of 4,731.56 on Friday. A [...]
FTSE 100 hangs in there as investors regain confidence July 29, 2009 THE FTSE 100 rose yesterday as gains from financial stocks, boosted by strong numbers from the UK arm of Spain’s Banco Santander, and positive broker comment, outweighed a weak mining sector. The index closed 18.69 points, or 0.4 per cent, higher at 4,547.53, after ending 1.3 per cent lower on Tuesday when it failed to [...]
International Power leading the way for defensive stocks August 11, 2009 THE LARGE cap index shed 1.1 per cent yesterday, knocked by weakness in heavyweight banks, miners, and oils, but defensive stocks were back in favour once again. The FTSE 100 was 50.86 points lower at 4,671.34 by the close of the session, weakening for a second day after hitting a 10-month closing high of 4,731.56 [...]
Boost for professional bodies November 1, 2009 Over three quarters of those working in the securities and investment industry believe the FSA should consult on the value of mandatory membership of a professional body, according to the newly Chartered Institute for Securities & Investment. Simon Culhane, the Institute’s CEO, said, “The results demonstrate our members’ commitment to high standards in their firms”.
Davies says lending not hurting UK June 17, 2009 TRADE minister Mervyn Davies has poured cold water on Bank of England deputy governor Paul Tucker’s suggestion that UK banks are hampering economic recovery. Speaking at the Paris air show, the former chairman of Standard Chartered admitted that encouraging banks to lend through the economic downturn was “challenging”. But when asked whether the lack of [...]