London rises to highest close in 3 weeks on Dubai bailout December 14, 2009 BRITAIN’S top share index closed at its highest level in a week yesterday, led by banks, after Abu Dhabi bailed out Dubai with $10bn in surprise aid, with commodities stocks also notching up solid gains. The FTSE 100 closed up 53.77 points at 5,315.34, its highest close since 4 December, adding to a rise the [...]
London market falls on back of revised USGDP figures November 24, 2009 BRITIAN’S leading share index ended 0.6 percent lower yesterday, with sentiment dampened by data showing the United States economy grew at a slower pace than previously thought, pressuring banks and commodity stocks. The FTSE index ended 31.54 points lower at 5,323.96, reversing earlier gains, to mirror falls on Wall Street after third quarter US economic [...]
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 [...]
BLOW-BY-BLOW: LEHMAN BROTHERS’ COLLAPSE September 13, 2009 22 August 2007Lehman closes its subprime lender BNC Mortgage as the sector falls into crisis. 17 June 2008Bank posts a $2.8bn loss in just one fiscal quarter. 13 September 2008Barclays and Bank of America end buyout plans as New York Fed boss Tim Geithner holds crisis talks. 15 September 2008In the early hours, Lehman files [...]
Gilt prices fall off a cliff after Darling’s PBR December 13, 2009 IT IS probably fair to say that chancellor Alistair Darling’s Pre-Budget Report (PBR) has failed to calm investors’ fears over the state of the country’s public finances. In spite of yet another warning that Britain’s prized triple-A credit rating on sovereign debt was at risk, Darling slackened the pace of fiscal tightening over the next [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 13, 2009 THE SUNDAYS The Sundays Telegraph DEBENHAMS DIRECTORS GET BUMPER PAYOUTS Directors of Debenhams have received bumper payouts, despite the retailer cutting its dividend payment to shareholders last year. Rob Templeman, chief executive, saw his package increase by a third to £1.24m after he was granted a bonus of £428,073. Michael Sharp, deputy chief executive, saw [...]
CITY MOVES WHO’S SWITCHING JOBS September 24, 2009 F&C Commercial Property TrustThe trust has appointed John Stephen, currently an independent non-executive director, as its new chairman, effective from 31 October. Stephen will replace Peter Niven, pictured, who steps down as chairman after four years and will remain on the board as a non-executive director. Niven is also a director of Resolution, which recently [...]
Stocks looking higher for now but resources the key November 8, 2009 UK and European stock markets are set to open higher this morning, following on from Friday’s bounce-back from the initial sell-off which followed the all-important US employment data. GFT is quoting the FTSE 100 index to open up 24 points from Friday’s close of 5,142. The German DAX is also called higher, up 25 points [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 17, 2009 FINANCIAL TIMES STRICKEN SCOTTISH AIRLINE’S £30M IN QUESTION Administrators of Globespan, the collapsed Scottish airline that has left thousands of passengers stranded abroad, were investigating last night why £30m of its funds were being held by E-Clear, the company that handles its credit card transactions. Bruce Cartwright, of PwC, said he understood that about half [...]
Retreating miners offset a strong day for banking sector December 3, 2009 A retreat in mining stocks offset gains in financials from Bank of America’s decision to repay bailout funds, leaving Britain’s top share index down 0.3 per cent at yesterday’s close. The FTSE 100 shed 14.39 points to end at 5,313.00, after gaining 0.3 percent on Wednesday. Banks were the top risers with sentiment helped by [...]