Commodities dent FTSE 100 despite strong banking stocks February 15, 2011 BRITAIN’S s top share index closed lower yesterday as strength in banking stocks, inspired by forecast-busting results from Barclays, was outweighed by a broad retreat in the mining sector on commodity price wobbles. The FTSE 100 index closed down 23.01 points, or 0.4 per cent, at 6,037.08. The FTSE 250, FTSE 350 and AIM 100 [...]
CANADA’S STRONG ECONOMY OPENS ITSELF UP TO FOREIGN INVESTMENT February 15, 2011 HEAD OF PRODUCT, BARCLAYS STOCKBROKERS Last week, the London Stock Exchange struck a deal with TMX Group, the operator of the Toronto Stock Exchange. The deal looks likely to reduce costs for users, offer greater levels of liquidity and provide broader access to mining and natural resources stocks. For investors, this is particularly attractive at [...]
Disappointing economic data keeps markets in the red February 15, 2011 The FTSE has spent the day in the red and closed down 0.38 per cent at 6,037.08 after disappointing US economic data and news. Miners were also led down by news from China, where an above-target 4.9 per cent increase in inflation raised the prospect of further interest rate rises. Banks were buoyant, though, [...]
InterContinental raises dividend as recovery boosts growth February 15, 2011 InterContinental Hotels has put its confidence in the global economic recovery with a rise in its final dividend for the first time in three years and plans to open more hotels. The world’s biggest hotels group, home to the InterContinental, Crowne Plaza and Holiday Inn brands, delivered full-year 2010 results in line with analysts’ forecasts [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 15, 2011 FINANCIAL TIMES BARCLAYS FORCED TO ADAPT COCOS BONUS PLAN Barclays has been forced to adapt its plans to pay bonuses for staff with a new financial instrument that has been hailed by regulators as a key tool for rebuilding the capital strength of banks. Bob Diamond, the UK bank’s new chief executive, had hoped to [...]
Barclays warns over regulation as profit jumps to £6.1bn February 15, 2011 Barclays said it plans to streamline operations to boost profitability as it grapples with tougher regulations which it says will lower its returns. The warning came as the bank reported a forcast-beating 32 per cent rise in annual earnings on , beating expectations. Bob Diamond, the American investment banker who took over as chief executive [...]
Advisers line up for the biggest deal in town February 14, 2011 WHEN you’re trying to build up a franchise in mergers and acquisitions, there’s nothing better than being signed up to work on one of the biggest deals in town. So naturally Barclays Capital and RBC Capital Markets were as pleased as punch to be advising the London Stock Exchange on its £4.3bn merger with Canada’s [...]
Chinese trade gap shrinks giving it ammunition in battle with the G20 February 14, 2011 CHINA’S trade surplus fell to its lowest in nine months in January after imports surged, supporting the government’s case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation. The trade surplus shrank to $6.5bn (£4.1bn) from $13.1bn in December, well short of forecasts for a [...]
FTSE drops as mining rally fails to counter bank jitters February 14, 2011 BRITAIN’S leading share index closed marginally lower yesterday as weaker financials prevailed over a mining rally inspired by upbeat economic data from China. Chip designer ARM Holdings was the top riser, up 6.6 per cent, with traders citing favourable broker comment as the mobile world met in Barcelona. Goldman Sachs said ARM’s management underscored its [...]
BarCap to be star turn in bank figures February 13, 2011 BARCLAYS is expected to rely on its investment banking division, Barclays Capital, for over 70 per cent of its pre-tax profits when it reports its full-year results tomorrow. Analysts are anticipating a loss at the bank’s corporate division, meaning that despite a difficult year for investment banks, BarCap will bring in the vast majority of [...]