Mining and oil stocks drive London to a 16-month high January 4, 2010 Strength in commodity stocks and banks drove Britain’s leading share index to a 16-month closing high yesterday, the first session of 2010, outweighing falls from real estate firms and life insurers. The FTSE 100 closed up 87.46 points, or 1.6 per cent, at 5,500.34, its highest close since Sept. 2, 2008 – the month when [...]
Strength in energy issues is offset by weakness in miners January 11, 2010 BRITAIN’S leading share index ended flat yesterday with strength in energy issues countering a sell-off in miners, weak financial issues and uncertain progress on Wall Street. At the close, the FTSE 100 index was up 3.83 points, or 0.1 per cent, at 5,538.07, having touched a 16-month intraday peak of 5,600.48 early in the session. [...]
City says FSA plan to tear up bank contracts is unlawful November 16, 2009 EX-ROYAL Bank of Scotland chairman Sir George Mathewson yesterday added to City concerns over government plans to hand the Financial Services Authority (FSA) the power to rip up bankers’ pay contracts, labelling them “dangerous”. Speaking on the BBC, Mathewson said it was “sad” to see a political move to threaten the banks even as the [...]
Tesco finance unit shuns Lloyds and RBS assets November 17, 2009 Tesco is not interested in any assets bailed-out banks Lloyds and Royal Bank of Scotland will be forced to sell to satisfy EU antitrust worries, the head of Tesco Personal Finance said. Benny Higgins also said on the sidelines of the Euro Finance Week conference yesterday that Tesco might not launch a current account until [...]
Banks push FTSE higher but vaccine worries hit pharma January 5, 2010 THE leading share index ended 0.4 per cent higher on yesterday, hitting a fresh 16-month closing high, as banks and commodity stocks rose, but gains were capped by a fall in drugmakers on concerns over vaccine sales. The blue chip FTSE 100 closed 22.16 points higher at 5,522.50, its highest close since 2 September 2008 [...]
Let the game begin August 11, 2010 THE City can seem a pretty quiet place at this time of year – for the action, you need to head to the countryside. “Glorious” August 12 being the start of the game season, keen shots will today be filling their hip flasks, pulling on wellies and heading up in their droves to the high [...]
Let the game begin August 11, 2010 THE City can seem a pretty quiet place at this time of year – for the action, you need to head to the countryside. “Glorious” August 12 being the start of the game season, keen shots will today be filling their hip flasks, pulling on wellies and heading up in their droves to the high [...]
M&S launches first ever bond buy-back plan November 17, 2009 MARKS and Spencer yesterday announced it would be embarking on its first tender offer to shareholders in its 125-year history. The retail bellwether said it plans to buy back up to £225m of bonds from investors and issue new debt, becoming the latest firm to take advantage of attractive market conditions. The clothing, homewares and [...]
ABNAmro in a 29m third quarter loss November 25, 2009 STATE-owned ABN Amro continued to be loss making in the third quarter as it prepared for a series of demerger steps that will allow the Dutch government to nurse it back to health and sell it back into private hands. Lower asset and liability management income weighed on third-quarter earnings, offsetting a slight improvement in [...]
Bank jitters and commodity weakness hits London stocks December 17, 2009 Jitters in the financial sector prompted by tough new proposed regulations sent banks sliding yesterday while commodity stocks also retreated on weaker raw material prices, pulling the FTSE 100 down 1.9 per cent by close. The FTSE 100 closed down 102.65 points at 5,217.61, having closed 34.49 points, or 0.7 per cent, higher on Wednesday [...]