Bouncing back banking shares see FTSE jump by nearly two per cent April 17, 2012 BRITAIN’S top share index gained nearly two per cent yesterday, led by a rebound in banking stocks after a well-covered Spanish bill auction eased some concerns about banks’ exposure to Eurozone debt. Barclays was the top sector performer, rallying 4.6 per cent after BofA Merrill Lynch said earnings upgrades could be on the horizon for [...]
FTSE edges up thanks to banks April 17, 2012 London’s blue chip index edged up this morning but the Eurozone debt crisis continued to cast a shadow. Spain’s borrowing costs have jumped and the country is grappling to get back on track with a tough set of austerity measures. The FTSE 100 built on limited gains in yesterday’s session as investors took cover in [...]
ADVISERS BARCLAYS CAPITAL April 16, 2012 Matthew Ponsonby, co-head of mergers and acquisitions for Europe, the Middle East and Africa is one of the key players on the team advising International Power (IP). The bank hired Ponsonby in 2009 to set up an M&A team in Europe, and he has since led a team advising car rental company Avis Europe on [...]
Miners fuel FTSE gains April 16, 2012 The FTSE 100 was in positive territory in early trading with resilient miners lifting the index despite fears over slowing growth in China Investors were more upbeat after markets were also buffeted last week by fears over Eurozone debt, with eyes focusing on Spain and Italy. However sentiment toward banking stocks remained tepid this morning [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 15, 2012 FINANCIAL TIMES Barclays’ tax deals face US scrutiny Barclays’ controversial tax planning business will come under fresh scrutiny in a US court this week over whether a transaction designed by the bank cost the US government more than $1bn in lost tax receipts. The US Internal Revenue Service claims that complex, cross-border deals Barclays structured [...]
Investor group gives nod to Barclays pay April 15, 2012 A VOTING agent that works for Barclays’ second-biggest shareholder has recommended a vote in favour of Bob Diamond’s bumper pay package. Institutional Shareholder Services (ISS) advised its clients last week that Barclays’ remuneration package is consistent with previous guidance to investors and recommends voting in favour of it. ISS is one of the world’s biggest [...]
Daisy to buy Wordlwide for £28m April 13, 2012 The FTSE 100 edged down in early trading as investors digested data showing a slowdown of growth in China’s economy. Official figures released overnight showed that China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 [...]
FTSE down as China growth slows April 13, 2012 The FTSE 100 edged down in early trading as investors digested data showing a slowdown of growth in China’s economy. Official figures released overnight showed that China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 [...]
Vickers report morphs from a fudge to a whitewash April 12, 2012 JUST six months after the publication of the Independent Commission on Banking’s final report, Sir John Vickers’ recommendations on boosting competitiveness are falling on deaf ears. Initially, Vickers recommended in his interim report that Lloyds be made to sell “substantially” more than the 632 branches it is being forced to put on the block to [...]
Miners lead FTSE higher on hopes of strong economic growth in China April 12, 2012 BRITAIN’S top share index hit a one-week closing high yesterday as mining stocks jumped on market talk that China, the world’s biggest metals consumer, could report strong economic growth numbers today. Economists polled by Reuters in March forecast that China’s GDP expanded 8.3 per cent in the first quarter of 2012 versus a year earlier. [...]