Goldman Sachs backs banks and helps to lift the markets August 18, 2009 THE FTSE 100 closed 0.9 per cent higher yesterday, led by gains in banks and miners which recovered from losses in the previous session, while data showed inflation held steady in July. The large-cap index closed 40.77 points higher at 4,685.78, recovering from a 1.4 per cent drop on Monday, its biggest one-day percentage loss [...]
THE LONDON REPORT September 17, 2009 BANKING and energy stocks fuelled a 0.8 per cent gain for the FTSE 100 by close yesterday, up for a fifth straight day, as sentiment on the outlook for the global economy improved further. Britain’s blue chip index closed up 39.82 points at 5,163.95, its highest close since late September last year, having added 1.6 [...]
THE LONDON REPORT September 15, 2009 The FTSE 100 rose for a third straight session yesterday to close up by 0.5 per cent, boosted by bullish economic data from the US, as oils, miners and banks underpinned the rally. The index ended 23.28 points higher at 5,042.13, after trading as low as 4,996.52 earlier in the session. Energy stocks were higher, [...]
Investors claim Goldman win January 25, 2010 TWO GOLDMAN Sachs shareholders have staked the unusual claim that their lawsuit contributed to the investment bank’s decision to restrain its remuneration policy. US-based pension funds looking after labourers and firemen, who demanded the board review the proportion of profits paid out as salary, said their action led to the lower-than-expected pay and bonus pool [...]
FTSE’s six-day rally ends but pharmaceuticals get a boost September 21, 2009 THE FTSE 100 broke a six-day winning streak yesterday on the back of profit taking, especially in banks and commodity shares, leaving some investors wondering whether the recent rally is close to its conclusion. The index closed down 38.53 points, or 0.7 per cent, at 5134.36 points, after hitting a new 12-month high last week [...]
City cash calls dominate EU July 26, 2009 EQUITY issues in the UK have accounted for 46 per cent of the total issuance in Europe this year so far. The City scramble to raise capital meant giant offerings from HSBC, Rio Tinto and Lloyds Banking Group. Thomson Reuters data shows that of the $129.5bn (£78.8bn) of equity capital market activity seen in Europe [...]
TAKING AFTERNOON TEA WITH THE GRAND DAMES OF THE BUSINESS WORLD September 21, 2009 THE City’s most illustrious ladies flocked to the House of Commons yesterday for afternoon tea at the launch of “Women for Boards”, the new initiative from super-recruiter Anna Mann to get more women onto the boards of Britain’s biggest firms. The idea was hatched in the middle of last year, when Mann, a founder of [...]
Bond fund bosses declare an end to giant rallies in junior banking credit August 20, 2009 FUND MANAGERS are ditching junior bonds issued by banks that have been forced to take state investments, believing the stellar rallies of the last few months are now well and truly finished. The bonds, issued by banks such as bailed-out Lloyds Banking Group, have staged a massive recovery since mid-March, but all easy money has [...]
Lloyds may opt out of costly APS August 6, 2009 LLOYDS Banking Group is considering pulling out of the government’s asset protection scheme (APS) and opting for an independent capital raising instead, City A.M. understands. A Lloyds board member said the company had not “ruled anything in, or ruled anything out”. Shares in the bank yesterday rose 12.3 per cent to 104.7p on the back [...]
Lloyds may opt out of costly APS August 6, 2009 LLOYDS Banking Group is considering pulling out of the government’s asset protection scheme (APS) and opting for an independent capital raising instead, City A.M. understands. A Lloyds board member said the company had not “ruled anything in, or ruled anything out”. Shares in the bank yesterday rose 12.3 per cent to 104.7p on the back [...]