FTSE hits six-month high fuelled by Greek deal February 13, 2012 The FTSE 100 climbed 0.9 per cent to a six-month high of 5,905.7 as investors’ confidence was buoyed by Greek politicians finally approving a new set of austerity measures. However, the move triggered civil unrest on the streets of Athens with the most violent clashes since the country’s disastrous financial situation was laid bare. The [...]
BOARDROOM CLEAROUT January 4, 2012 Like former PM Harold McMillan, who had his own “night of the long knives” in 1962 by sacking eight cabinet ministers in one go, incoming chairman Frank Meysman has dispensed with three of Thomas Cook’s five non-executive directors. The soon to be ex-execs have a combined age of 202. But who are they? Peter Middleton [...]
FTSE takes a breather as clouds gather over Greece January 24, 2012 BRITAIN’S top share index retreated from six-month peaks yesterday as Eurozone debt woes prompted investors to take profits in banking stocks and rebalance portfolios in favour of high dividend payers. The fall on the London bourse chimed with weaker equity performance in Europe and the United States, on worries that Greece could be heading for [...]
FTSE takes a breather as clouds gather over Greece January 24, 2012 BRITAIN’S top share index retreated from six-month peaks yesterday as Eurozone debt woes prompted investors to take profits in banking stocks and rebalance portfolios in favour of high dividend payers. The fall on the London bourse chimed with weaker equity performance in Europe and the United States, on worries that Greece could be heading for [...]
EX-TRADER’S INSIDE JOB ON MORGAN STANLEY February 12, 2012 ART IMITATES life in the new novel On the Floor by former Morgan Stanley bond trader Aifric Campbell. “The real truth about the City – the pressure and the ruthlessness – is best written about by people who have lived it,” says Campbell, who drew on her years as Morgan Stanley’s first female MD on [...]
Miners fuel FTSE gains as Fed eyes growth January 26, 2012 The FTSE was boosted by the US Federal Reserve’s promise to keep interest rates – and therefore bond yields – ultra-low for the next couple of years while positive results from miners also contributed to gains. Fed chief Ben Bernanke said that it may consider further monetary easing and would keep rates near zero until [...]
Banks pull FTSE back as Greece crisis festers January 30, 2012 The FTSE 100 tracked losses across Europe in early trading as the negotiations in Athens over Greece’s disastrous finances showed few signs of success. Greece and its private creditors have so far failed to come up with an agreement on debt swap talks, needed to avoid a default. Meanwhile a European summit focused on growth [...]
Banks peg back FTSE as Greece faces the abyss January 24, 2012 The rally on the FTSE 100 stalled this morning after talks to address the Greek debt crisis appeared to be floundering with the threat of a default casting a shadow. Financial stocks pinned the market back as Eurozone ministers yesterday rejected an offer made by private bondholders to help restructure Greece’s debts, sending negotiators back [...]
Banks fuel FTSE gains after Lloyds upgrade December 21, 2011 Banks led London’s blue chip index up in early trading – tracking gains in Wall Street and Asia. Exane BNP Paribas upgraded Lloyds to trigger a rise in the sector which has had a torrid year with the Eurozone debt crisis taking its toll. Lloyds was up 4.3 per cent as Exane BNP Paribas upgraded [...]
Lloyds of London profit halves as claims rise September 28, 2010 The Lloyd’s of London insurance market said its profit for the first six months of 2010 more than halved, hit by higher catastrophe claims and weaker investment returns. Lloyd’s had a first half pretax profit of £628m, down from £1.32bn in the same period last year, it said on Tuesday. Lloyd’s, which traces its origins [...]