Indexes in London closed mixed on Friday, as investors mulled the latest economic data and the crucial cut to the Federal Reserve's interest rate earlier in the week. 'Markets continued to digest the [US] Federal Reserve's 25-basis-point rate cut this week,' Naga's Frank Walbaum commented. 'Chair Jerome Powell described the move as a measured response to a cooling labour market, while...

Since they facilitate the flow of capital and debt, financial companies play a crucial role in oiling the wheels of the global economy and due to the fact it permeates almost every aspect of corporate and personal life, the vast financial services sector has been dubbed the 'nervous system of capitalism'. Candidly, this sector has a reputation for being, well, a bit dull, yet financials have a...

Shares in UK banks dropped last on 29 August after the publication of a report by the IPPR (Institute for Public Policy Research) recommending the government introduce a new tax on 'excess' profits generated since the pandemic. Shares in Barclays (BARC) fell 2.2% to 360.4p while Lloyds (LLOY) fell 3.4% to 79.5p and NatWest (NWG) fell 4.9% to 510.6p at the close. The IPPR report centres on the...

Think tanks suggests new bank tax Tax to target QE-related windfalls Proceeds to offset some BoE losses Shares in UK banks weighed on the market heading into the weekend after an independent think tank suggested the government fill its fiscal 'black hole' by raising a levy on commercial lenders. Barclays (BARC) shares were 3.3% lower at 356p, while Lloyds (LLOY) dropped 3.7% to 79.35p and...

It has now been 10 years since the then chancellor George Osborne, introduced the so-called 'pension freedoms' for individuals with defined contribution pension savings. 'Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want. No caps. No drawdown limits. Let me be clear. No one will have to buy an annuity,' Osborne...

Court upholds industry appeal Fewer claims likely to succeed Bank shares surge on outcome With the Supreme Court withholding its ruling on motor finance claims until after the market closed on Friday (1 August), investors had to wait until this morning (4 August) to reap the benefits of what looks to be a major win for the finance companies. Shares in Lloyds (LLOY), the UK largest car loan...

Stocks in London, Paris and Frankfurt were generally higher on Monday morning, following Friday's UK Supreme Court decision on motor finance commissions, with Lloyds, Close Brothers and S&U all rising comfortably. The FTSE 100 index opened up 35.24 points, 0.4%, at 9,103.82. The FTSE 250 was up 132.26 points, 0.6%, at 21,831.60, and the AIM All-Share was up 1.22 points, 0.2%, at 758.38. The...

Whereas the biggest banks in the US, such as JPMorgan Chase (JPM:NYSE) and Bank of America (BAC:NYSE), are heavily dependent on trading and investment banking for their profits, the UK's big banks are mostly reliant on old-fashioned lending and deposit-taking. Granted, both Barclays (BARC) and HSBC (HSBA) have sizeable investment banking operations, but generally speaking their results aren't...

UK bank stocks have done well this year, thanks to expectations of lower interest rates and a mortgage market which is heating up. Shares in Barclays (BARC) are up 22%, while NatWest [NWG) shares are up 32% and Lloyds (LLOY) are up 40%. One of the best-performing stocks of 2025 is sub-prime lender Vanquis Banking Group (VANQ) ? previously known as Provident Financial ? which at the time of...

Investment trust Polar Capital Global Financials Trust (PCFT) is offering shareholders an easy exit at a premium to the current share price, cutting fees and boosting its commitment to future dividends in sweeping changes. The investment trust has launched a tender offer of its issued share capital (excluding treasury shares), providing investors with an opportunity to fully exit at a price...

After a strong performance across the board in 2024, this year has been slightly less uniform for the UK's Big Four high-street banks. First to report was global bank HSBC (HSBA), which put in a good showing with underlying revenue and earnings increasing thanks mainly to its Asia-based wealth management operations, although its trading desks also made hay during the market turmoil. The group...

Stocks were in the green on Thursday morning in London, with software provider Eleco on AIM shining after it said it is 'well positioned' for strong results. Meanwhile in Asia, Chinese media has reported that Washington is approaching Beijing regarding tariff negotiations. Yuyuan Tantian, a Chinese outlet linked to state broadcaster CCTV, said citing sources that Washington was 'proactively'...

European banking and mining stocks bore the brunt of the selloff in morning trading on Friday (4 April) as China announced 34% retaliatory tariffs on US imports, sparking fears of a global trade war.UK banks Barclays (BARC), NatWest (NWG), Lloyds Banking Group (LLOY) were some of the biggest fallers ? down 9.12%, 8.99% and 7.32% respectively on the day and global mining companies Glencore...

So far this year shares in banking group Lloyds (LLOY) have closed the gap which opened up between it and peers like Barclays (BARC) and NatWest (NWG) in 2024.That the stock has advanced year-to-date is even more impressive when you consider the company has significant exposure to the ongoing motor finance mis-selling scandal.While this remains a source of uncertainty, elsewhere the business...

Bunzl CEO buys £303,110 sharesCMC deputy CEO buys £420,284 sharesC&C CEO buys 100,000 sharesFrank van Zanten, chief executive of outsourcing business Bunzl (BNZL), bought 10,000 shares for a total value of £303,110 on 6 March.Over the past month, Bunzl shares have fallen 14% despite the FTSE 100 company reporting a 2.2% rise in adjusted full year 2024 pre-tax profit (3 March), its 32nd year...

London stocks closed in the green on Wednesday, boosted by gains in the banking sector, despite investors' disappointment as BP announced a reduced buyback programme.The FTSE 100 index closed up 62.79 points, 0.7%, at 8,731.46. The FTSE 250 ended up 147.62 points, 0.7%, at 20,595.90, while the AIM All-Share closed up 3.44 points, 0.5%, at 711.50.The Cboe UK 100 ended up 0.9% at 874.86, the...

Revenue down 3% on prior yearPre-tax profit down 20%, below forecastsBuyback and new targets spur buyingIt seems the market saved the best till last when it comes to reacting to results from the Big Four banks, with shares in Lloyds Banking Group (LLOY) gaining 2.5p or 4% to 65.3p even though earnings fell 20%, missing estimates. A BRAKE ON PROFITSFor the year to December 2024, Lloyds...

Next week sees the start of the UK fourth-quarter reporting season proper, with the big banks kicking off proceedings as usual.First up is Barclays (BARC), which has been in the news for all the wrong reasons recently with its online payments system seeming to have failed miserably around the end of the tax year just as its chief executive is reckoned to be in line for a whopping salary...

In just the first 20 days of 2025 the FTSE 100 index of blue-chip stocks has equaled its gains for the entirety of 2024, in the process closing at an all-time high of 8,505 points on 17 January.A better-than-expected inflation report for December together with weaker-than-expected retail sales for the same month appeared to open the door to faster Bank of England rate cuts, pushing the index...

Stock prices in London, Paris and Frankfurt were higher on Tuesday morning, while the newest ONS data showed that UK earnings growth outpaced inflation.Meanwhile, UK unemployment rate rose above analysts' forecast to 4.4% for November, according to the Office for National Statistics.Average earnings rose by 5.6% including and excluding bonuses, outpacing inflation. Wage growth excluding...