FTSE 100 stalls as traders nerves fail on banking sector May 28, 2009 RENEWED jitters over the health of the financial sector hit banks and offset gains by heavyweight oils yesterday, sending the FTSE 100 0.7 per cent, or 28.69 points, lower at 4,387.54. Banks were the worst performing large caps, with Barclays, HSBC, Standard Chartered, Lloyds Banking Group and Royal Bank of Scotland down 0.8 per cent [...]
DOES THE PROFIT FALL DERAIL MAN’S HOPES FOR ITS STOCK GROWTH? May 28, 2009 NIC CLARKE CHARLES STANLEYWe still believe that Man should benefit from being one of the leaders in the alternative investment business arena as competitors flounder, it is clear that the environment remains very difficult. Although its major funds outperformed, its fees were down by nearly two thirds in the period. HENK POTTS BARCLAYS WEALTHWe continue [...]
Banks and retailers rally to steer the FTSE 100 ahead May 27, 2009 GAINS in banks and retailers outweighed weakness in energy stocks and drugmakers yesterday to leave the FTSE 100 up by 0.1 per cent, or 4.51 points, at 4,416.23. Trade was thin with just 67 per cent of the average of the last 90 days of trading transacted with the absence of concrete data on the [...]
London still dominates EU hedge space May 27, 2009 LONDON still plays host to the top 15 hedge fund companies in Europe despite the massive losses and client withdrawals seen in the vehicles over the last year. The total assets managed by Europe’s top 50 hedge fund groups have plummeted by 30 per cent over the last year from £225bn to £178bn, according to [...]
US consumer confidence boosts late London trading May 26, 2009 BETTER than expected consumer confidence data out of the US gave the FTSE 100 a much-needed boost yesterday afternoon, after Asia’s sell-off – driven by concerns of heightening geopolictical tension on the Korean peninsula – infected the London markets in early trading. “Following the release of the US consumer confidence data there was an immediate [...]
US banks lose talent to rival London firms May 26, 2009 A TRIO of investment banks are emerging as the winners from the banking crisis, as they move to hoover up some of the most talented staff in London. Deutsche Bank, Credit Suisse and Barclays Capital (BarCap) have all been active in the recruitment market since the collapse of Lehman Brothers, taking advantage of freedom from [...]
ADDICTS, INCEST AND ORGIES: HOW THE STOCK EXCHANGE DOES DRAMA May 26, 2009 EXTRA-curricular activities (of the character-building, not reputation-trashing, sort) have become rather popular in the City since improving one’s CV became more of a necessity than an idle pastime. And in that spirit, keen Square Mile theatregoers will be happy to learn that SEDOS – the Stock Exchange Dramatic and Operatic Society – have been hard [...]
Collins Stewart hunts for successor to Terry Smith May 25, 2009 CITY stockbroker Collins Stewart has appointed headhunters to recruit two new non-executive directors, one of whom will be groomed to become the long-term successor to executive chairman Terry Smith. One of the non-executives is expected to become executive deputy chairman, with the potential to take the helm at the firm when Smith eventually steps down [...]
BarCap wants 65 more in M&A May 25, 2009 Barclays Capital will recruit up to another 65 bankers to its European mergers and acquisitions team before its hiring spree ends. Global head of M&A Paul Parker said the investment banking unit of Barclays was looking to add another 30 or 40 bankers in mainland Europe and up to 25 in the UK. Mark Warham, [...]
Week of gains set back by S&P UK outlook downgrade May 21, 2009 A CUT in the UK’s ratings outlook from agency Standard & Poor’s weighed on the FTSE 100 yesterday, with weakness in heavyweight oils, miners and banks contributing to a 2.8 per cent slide by close of play. The index ended 122.94 points lower at 4,345.47, its biggest daily fall since 27 March, having closed 13.84 [...]