Weak banks and miners pull FTSEdown by one per cent October 26, 2009 THE FTSE 100 share index ended 1 per cent lower yesterday, with mining and energy stocks suffering as the US dollar rose and commodity prices fell, while a sharp decline in ING put pressure on financials. The index ended down 50.83 points at 5,191.74, having risen as high as 5,281.12 earlier in the session. It [...]
Goldman sends LSE shares down despite praise for CEO October 21, 2009 The FTSE 100 was all about the power of the analyst today, with a number of individual movers spurred up or down by words of wisdom from the City’s finest. The London Stock Exchange (LSE) shed 2.2 per cent to close at 914p after Goldman Sachs cut its rating on the stock to “neutral” on [...]
Myners disagrees with Obama on pay October 21, 2009 IT is almost funny how, in our topsy-turvy world, highly-paid bank workers are now being accused of exploiting the capitalist class in the form of bank shareholders. The latest to make that claim is Lord Myners, the City Minister, who described the present levels of bonuses as “a market failure”, by which he meant proof [...]
Miners lead markets higher as gold price holds steady October 8, 2009 THE top share index ended 0.9 per cent higher yesterday, buoyed by the miners on firmer metals prices and optimism over demand prospects. The FTSE 100 closed 45.74 points higher at 5,154.64, after shedding 0.6 per cent on Wednesday. “There doesn’t seem to be the same degree of buying momentum returning to the market after [...]
Legal &General buyout talk continues to dominate FTSE October 1, 2009 TALK that blue chip insurer Legal & General is to be a target for Clive Cowdery’s Resolution buyout vehicle continued yesterday. Traders were saying that L&Ghas already been approached by Cowdery, despite the fact his buyout vehicle is currently in a closed period ahead of its merger with rival insurer Friends Provident. But City A.M. [...]
Remember, remember, to buy in November November 9, 2009 NOVEMBER is often considered one of the worst months of the year: the days are getting shorter, the holidays are still at least six weeks away and it is markedly colder and wetter. In short, not a month to get that excited about. That is, unless you are an investor. Forget the dismal weather and [...]
Top bankers fight back in bonus row September 8, 2009 TOP executives?at the world’s biggest banks teamed up to defend bonuses yesterday, in the first clear sign of an industry fightback against threats from policymakers to curb banker pay. Top bankers from Morgan Stanley, Credit Suisse and Deutsche Bank said bonuses did not cause the financial crisis, as they concluded a two-day summit in Germany. [...]
FTSE100 puts in best day in months amid renewed hopes October 6, 2009 THE top share index closed 2.3 per cent higher yesterday, its best gain in three months, as commodity and bank shares rallied on renewed hopes over the gathering pace of the global economic recovery, ahead of the third-quarter US earnings season. At the close, the FTSE 100 was up 113.65 points at 5137.98, after closing [...]
CITY MOVES WHO’S SWITCHING JOBS September 30, 2009 ERNST & YOUNGThe accountancy firm has hired Luke Reeve as a director and Chris Lowe, pictured, as an associate director to beef up its capital markets advisory group in the face of the ongoing liquidity challenges faced by firms in the downturn. Reeve was previously head of private debt capital markets for the EMEA region [...]
Charles Stanley snaps up Matterley August 17, 2009 Charles Stanley said yesterday it had boosted its fund management business by taking over the operations of investment boutique Matterley Asset Management. Matterley, which runs the £2.5m S&W Matterley Undervalued Returns fund, will continue to operate under its own name for a limited period before coming under the Charles Stanley brand. Matterley partners Ian Dighé [...]