Burberry to hit the large caps as Reuters de-lists September 8, 2009 LUXURY goods group Burberry will replace Thomson Reuters on the FTSE 100 index tomorrow, after the news and financial data group de-lists from the London Stock Exchange. Thomson Reuters is delisting from the FTSE 100 as it wants to simplify its capital structure and eliminate the persistent discount at which the London shares have traded [...]
LSEdefends high-freq traders September 7, 2009 The boss of the London Stock Exchange (LSE) has spoken out for high-frequency traders, the market speculators who have come under fire in the US for exacerbating market volatility in the credit crunch. Xavier Rolet has said he values the traders as they provide much-needed liquidity to the market. “They are a source of liquidity [...]
BA merger is a wake-up call for London November 12, 2009 CONGRATULATIONS to Willie Walsh, British Airways’ chief executive, for having pulled off a better than expected deal in his merger talks with Iberia. BA shareholders will own 55 per cent of the new company, while Iberia’s will hold 45 per cent; that is better than the 53-47 per cent split many had expected. Even though [...]
FSA warns on spoofing September 1, 2009 The Financial Services Authority said yesterday that it will fine or suspend market operators involved in manipulation practices known as “spoofing” and “layering”. Spoofing and layering involve putting apparent trades on share order books to create a misleading impression of the stock price or liquidity. The warning follows a £35,000 fine imposed last year by [...]
FSA warns on spoofing September 1, 2009 The Financial Services Authority said yesterday that it will fine or suspend market operators involved in manipulation practices known as “spoofing” and “layering”. Spoofing and layering involve putting apparent trades on share order books to create a misleading impression of the stock price or liquidity. The warning follows a £35,000 fine imposed last year by [...]
LSE battle for market share gets tougher October 7, 2009 LONDON Stock Exchange chief executive Xavier Rolet is facing a tough battle to end the year ahead, as upstart rivals continue to gnaw away at the institution’s market share. The LSE’s share of London trading volume stood at 64 per cent yesterday, recovering from the previous day’s all time low of 60 per cent, but [...]
LSE battle for market share gets tougher October 7, 2009 LONDON Stock Exchange chief executive Xavier Rolet is facing a tough battle to end the year ahead, as upstart rivals continue to gnaw away at the institution’s market share. The LSE’s share of London trading volume stood at 64 per cent yesterday, recovering from the previous day’s all time low of 60 per cent, but [...]
Sportingbet’s profits surge October 7, 2009 ONLINE gaming firm Sportingbet yesterday posted a surge in full year pre-tax profit, suggesting it has weathered an economic storm that threatened to destroy it. The group also said it would reinstate its dividend of 1p and unveiled plans to move to a full listing on the main market of the London Stock Exchange. Sportingbet [...]
Prudential and AIG bosses on charm offensive March 4, 2010 PRUDENTIAL boss Tidjane Thiam is leading a series of “town hall” meetings across Asia to promote his firm’s $35.5bn (£24bn) acquisition of American International Group’s Far Eastern arm. Along with AIG chief Robert Benmosche, Thiam yesterday reassured American International Assurance employees in Malaysia and Singapore there were no planned job cuts for customer-facing staff. Benmosche [...]
LSE lifted by Rolet effect September 14, 2009 THE LONDON Stock Exchange (LSE) saw its share value rise in August by 11.3 per cent, as the positive effect of new chief executive Xavier Rolet continued, according to the Mondo Visione Exchanges Index. The share price rise was achieved against a backdrop of a fall of -1.3 per cent in overall share values for [...]