Pharmaceuticals inject more life into the FTSE 100’s rise July 22, 2009 THE FTSE 100 added 0.3 per cent yesterday, extending its winning streak to eight sessions thanks to modest gains on Wall Street and solid second-quarter results from drugs giant GlaxoSmithKline. At the close, the index was 12.56 points higher at 4,493.73, up 8.2 per cent over the past eight sessions. Drug maker Shire was the [...]
Sandy Crombie joins RBS board May 21, 2009 Sir Sandy Crombie, the chief executive of Standard Life, is to join the board of Royal Bank of Scotland. Crombie will become the bank’s senior independent director and will be responsible for liaising between the bank and leading investors. UKFI – the body which manages the government’s stakes in recapitalised banks – is believed to [...]
First gains of the week as Alcoa boosts the markets July 9, 2009 THE FTSE 100 closed 0.5 per cent higher yesterday, ending a three-day losing streak on the back of gains in miners after reassuring earnings from Alcoa. The index closed 18.43 points firmer at 4,158.66, having fallen 1.1 per cent the previous session to its lowest closing level in more than two months. However trading was [...]
Investment banks booming as RBS chief nets pay deal June 22, 2009 INVESTMENT banks are on course for a year of record profits, as they take advantage of dwindling competition to hoover up business from governments and companies raising money in the markets. Bankers at Goldman Sachs are expecting mammoth bonuses, after the investment banking division booked profits of more than £500m in the first quarter, nearly [...]
Investment banks booming as RBS chief nets pay deal June 22, 2009 INVESTMENT banks are on course for a year of record profits, as they take advantage of dwindling competition to hoover up business from governments and companies raising money in the markets. Bankers at Goldman Sachs are expecting mammoth bonuses, after the investment banking division booked profits of more than £500m in the first quarter, nearly [...]
BEST OF THE BROKERS June 8, 2009 RIO TINTOCitigroup said that Rio Tinto’s growth projects will come back onto the agenda now that the miner has pulled out of the Chinalco deal and confirmed a rights issue. to reduce its debt burden. The broker notes that dilution from the cash call will be less than if the Chinalco deal went ahead, and [...]
BEST OF THE BROKERS June 8, 2009 RIO TINTOCitigroup said that Rio Tinto’s growth projects will come back onto the agenda now that the miner has pulled out of the Chinalco deal and confirmed a rights issue. to reduce its debt burden. The broker notes that dilution from the cash call will be less than if the Chinalco deal went ahead, and [...]
Lloyds left 1.3bn out of pocket from Kenmore demise and Admiral swap November 15, 2009 Kenmore Property Group, which collapsed into administration last week, owes more than £700m to Lloyds Banking Group. Kenmore, which controlled £1.8bn of assets, was put into administration last Thursday by Grant Thornton, after becoming incapable of meeting any of its existing business obligations as a result of falling home sales. Owned by one of Scotland’s [...]
BEST OF THE BROKERS June 4, 2009 J SAINSBURYIt’s the end of the beginning for J Sainsbury, not the beginning of the end, said analysts at Morgan Stanley as they upgraded the stock from “equal-weight” to “over-weight”. The broker expects the retailer to deliver premium like-for-like growth for at least 12 months, and has set a price target of 375p, which is [...]
BEST OF THE BROKERS June 4, 2009 J SAINSBURYIt’s the end of the beginning for J Sainsbury, not the beginning of the end, said analysts at Morgan Stanley as they upgraded the stock from “equal-weight” to “over-weight”. The broker expects the retailer to deliver premium like-for-like growth for at least 12 months, and has set a price target of 375p, which is [...]