Banks lead the FTSE higher and bulls reboot interest in sofware companies May 18, 2009 THE FTSE 100 sprung to life yesterday, driven by banks which were led higher by confirmation of Lloyds Banking Group’s rights issue and the announcement that Sir Victor Blank would step down as its chairman. The index erased almost half of last week’s losses, closing 2.3 per cent, or 98.34 points, higher at 4,446.45 points. [...]
SPOTLIGHT ON SMALL CAPS May 18, 2009 SMALL cap stocks continued their slow rally yesterday, with the FTSE small cap index adding 0.39 per cent to 2,241 points and the Aim 100 rising 0.17 per cent to 2219. Counter-terrorism and intruder prevention specialist Eruma added over a quarter of its value to 1.75p after announcing it had signed a contract for over [...]
Lowe’s results improve Wall Street’s retail mood May 18, 2009 US STOCKS rallied yesterday as better-than-expected results from the number two US home improvement retailer, Lowe’s, helped spark broad-based buying on hopes the recession is easing and consumer spending is stabilising. Investors’ optimism extended to sectors closely aligned with economic growth, including homebuilders, banks, energy companies and retailers. Positive broker comments on Bank of America, [...]
Sunderland in danger after letting it slip May 18, 2009 SUNDERLAND’S bid to avoid relegation from the Premier League will go right to the very last game of the season after they relinquished a one-goal lead to go down at Portsmouth. Ricky Sbragia’s men had survival in their sights when striker Kenwyne Jones tapped home the opening goal. But the optimism lasted barely a minute [...]
Milan step up renewed chase for Adebayor May 18, 2009 THE future of Arsenal striker Emmanuel Adebayor looked all the more uncertain last night after AC Milan president Silvio Berlusconi insisted there was a “good chance” the Togo international would sign in the summer. Adebayor was a target for the Italian giants last summer before the striker signed an extended contract at the Emirates Stadium. [...]
Wilkinson flies the Falcons nest to join ambitious Toulon May 18, 2009 JONNY WILKINSON has quit English rugby after agreeing to join ambitious French club Toulon next season. The 29-year-old brings to an end a 12-year association with the Newcastle Falcons and becomes the latest England international to swap the Premiership for France’s Top 14. Injury-plagued Wilkinson has not played since dislocating his kneecap at Gloucester back [...]
Anderson: Windies win sets us up for Ashes shot May 18, 2009 SEAM hero James Anderson insists England’s series demolition of the West Indies has given them a “massive boost” for the Ashes this summer. Anderson delivered a match-winning bowling performance with 4-38 to add to his first innings five-for, and lead England to a comprehensive victory in the second Test at the Riverside. Tim Bresnan also [...]
BLANK QUITS LLOYDS OVER HBOS DISASTER May 17, 2009 LLOYDS Banking Group must begin the hunt for a successor to chairman Sir Victor Blank, after the bank chief announced yesterday that he would retire before the bank’s 2010 AGM. In a board meeting at the bank’s Gresham Street headquarters, Blank officially notified fellow board members of his departure, which follows massive investor anger over [...]
FSA vets job movers May 17, 2009 A NUMBER of executives have withdrawn their applications for senior roles at UK financial institutions after the Financial Services Authority (FSA) has questioned their suitability. Addressing the Association of Corporate Treasurers, FSA chief executive Hector Sants said that the regulator has conducted interviews with 51 candidates for senior roles, and that a number have been [...]
Blank’s exit won’t end Lloyds’ troubles May 17, 2009 IT was always Sir Victor Blank, one of the Labour Party’s favourite businessmen, who was most likely to be Lloyds Banking Group’s sacrificial lamb. It was he, after all, who was the main driver of Lloyds TSB’s ill-fated takeover of HBOS; he first discussed the idea of the deal with Gordon Brown over drinks in [...]
