FTSE 100 index remains under 6,000 mark as fears over the Chinese economy linger January 8, 2016 After the FTSE 100 index faltered in late morning trading, it has rebounded back towards the gains it made at the open – but still remains below the 6,000 mark. The rebound comes as concerns over weakness in the Chinese economy continue to weigh on European markets. The UK's blue-chip index rose 0.44 per cent to 5,979 points in early afternoon [...]
Tesco share price soars after Barclays upgrades to buy recommendation January 8, 2016 Tesco's share price soared five per cent this morning after Barclays upgraded its rating on the stock to buy. Barclays moved its weighting from equal weight to overweight, saying recent declines in its share price had now lowered the stock to attractive levels. [stockChart code="TSCO" date="2016-01-08 11:45"] It also believes there are improvements to the [...]
FCA launches probe over alleged bond market rigging by trader at Lloyds Banking Group January 6, 2016 The City’s watchdog has launched a probe into whether the UK government bond market was manipulated by a trader at Lloyds Banking Group. The Financial Conduct Authority (FCA) is looking into whether at least one Lloyds trader sought to increase profits by driving down the price of the bonds or by inflating their prices when [...]
EU referendum: Barclays, HSBC bosses give evidence to MPs on Britain’s EU membership, say City would “thrive” after Brexit January 6, 2016 The City would retain its status as a global financial centre if British voters back leaving the European Union, a Barclays executive has claimed. Speaking to MPs on the Treasury select committee this afternoon, Mark Astaire, vice chair of the investment banking division at Barclays, said that while London has “thrived” within the European Union, [...]
Aberdeen falls to lowest point since 2012 on Barclays downgrade January 5, 2016 Aberdeen Asset Management shares fell to a three-and-a-half-year low today, weighed heavily by a Barclays downgrade. Investors were rattled by a note from the bank downgrading the stock to “underweight” from “equalweight” amid worries it would need to work harder to slash costs. Aberdeen closed 2.4 per cent lower on the news at 275.2p, its [...]
Barclays reportedly reviewing allowance practices in light of EU banker bonus cap January 3, 2016 Barclays is reportedly reviewing its compensation programme to make sure that bonus and “allowance” payments comply with increasingly strict European Union regulations. The EU’s bonus cap, intended to discourage bankers from taking excessive risks, limits annual bonuses to 100 per cent of an employee’s salary, or 200 per cent with shareholders’ approval. To circumvent the [...]
At the close: FTSE 100 index closes down on commodities and banks December 30, 2015 The FTSE 100 index closed down today over renewed fears of weakness in commodity markets and concerns over bank stocks after reports the Chinese central bank suspended a number of foreign banks from conducting some foreign exchange business. The UK's top blue-chip index shut 0.64 per cent down at 6,274 points, led lower by Glencore, [...]
Bank shares fall after China’s central bank suspends at least three banks from some foreign exchange business, reports December 30, 2015 Bank stocks took a hit in early afternoon trading after the Chinese central bank suspended at least three foreign banks from conducting some foreign exchange business, according to reports. Shares in Royal Bank of Scotland were down 1.81 per cent at 304.5p per share, while HSBC shares fell 1.52 per cent to 536.35p per share and Standard [...]
Barclays share price falls as wealth management arm Barcap is slapped with $13.75m penalties December 30, 2015 Barclays shares slumped 0.7 per cent to 220.95p per share this morning, after a US regulator found its former wealth and investment management arm made unsuitable mutual fund switches between 2010 and 2015. The US financial industry regulatory authority (Finra) ordered Barclays Capital to pay more than $10m (£6.7m) in compensation to the customers affected, and a [...]
FTSE 100 index opens down on miners and oil companies December 30, 2015 The FTSE 100 index opened lower this morning, led by mining and oil companies which extended losses made yesterday. The UK's top blue-chip index opened 0.51 per cent lower at 6,280 points, with BHP Billiton and Glencore leading the pack lower. The pair fell 1.47 per cent to 764.8p per share and 1.57 per cent to [...]