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News Tag: FTSE

January 4, 2011

BP shares up on takeover speculation

by Kay Mitchell
BP shares up on takeover speculation
Beleaguered oil giant BP saw it shares surge 6% today after speculation mounts that rival Royal Dutch Shell is considering a takeover bid. Shares in the firm closed at 492.90p on London's FTSE 100 - which, incidentally, closed at just above the key 6,000 mark - its highest level since June 2008. Meanwhile, Shell has declined to comment on the speculation, which was ...




November 30, 2010

Contagion fears hit Italy and Belgium

by Kay Mitchell
Contagion fears hit Italy and Belgium
Fears have been mounting for Spain and Portugal over recent days as borrowing costs surge but spreads on Italian and Belgian bonds have now risen as Ireland’s bailout does little to reassure the markets. The euro continues to slide, hitting a two-month low of $1.31, while London’s FTSE dived nearly 118 points to 5,550. Nick Matthews, a credit expert at RBS, told The ...




November 1, 2010

FTSE 100 bosses award themselves big bonuses

by Kay Mitchell
”FTSE
Research has revealed that the average FTSE 100 executive is earning 88 times that of the average full-time UK worker. The revelation comes despite the recession where companies have been forced to make major cutbacks. According to Incomes Data Services (IDS), in the year to June 2010, executives in FTSE 100 companies took home an average of £4.9 million in total earnings ...




May 21, 2010

Global shares continue to fall over euro debt fears

by Kay Mitchell
Global shares continue to fall over euro debt fears
Ongoing fears that the euro zone debt crisis could spread throughout the world sent Asian markets falling today with Japan's Nikkei index down 246 points to 9,784.54. Over the week, the index has lost over 6.5% - its largest weekly drop since January 2009. On Wall Street yesterday, the Dow Jones industrial average slumped 376.36 points (3.6%) to ...




May 11, 2010

Lib Dems end talks with Labour

by Kay Mitchell
’Lib
According to sources this evening, the Conservative party is close to forming a coalition with the Liberal Democrats after talks between the latter and the Labour Government broke down at lunchtime today. The news comes after Friday’s hung parliament result, which failed to give any political party a clear majority. As a result, the political parties have been discussing a coalition but ...




September 30, 2009

US markets fall on weak data, FTSE has best quarter

by Kay Mitchell
US markets fall on weak data, FTSE has best quarter
Today the world’s largest economy received a boost after the Commerce Department revealed that the US economy shrank at a far slower rate in the second quarter than previous estimates showed. According to the Commerce Department, the US economy contracted by 0.7% between the April and June period rather than the 1% previously reported and far better than ...




September 15, 2009

Survey finds executive pay up 10%

by Kay Mitchell
”Survey
Despite major losses among FTSE 100 companies, directors at these companies saw their basic salaries soar 10% last year. In the midst of the worst global recession in decades, these companies lost nearly a third of their value but their salary continued to rise. The Guardian's annual survey of boardroom pay discovered that full-and part-time directors of the FTSE 100 shared more than ...




September 1, 2009

Weak manufacturing data sends FTSE down

by Kay Mitchell
”Weak
The Chartered Institute of Purchasing & Supply's monthly index of manufacturing fell to 49.7 in August from 50.2 in July - a figure below 50 indicates contraction. Today’s figures have surprised many analysts who predicted a rise to 51.5, after growth was reported in July for the first time since April last year. Meanwhile, the new orders index declined from 54.8 to ...




March 4, 2009

Survey reveals record fall in UK vacancies

by Kay Mitchell
”Survey
With the number of people out of work between October and December 2008 rising to 1.97 million (the highest figure in well over a decade), it’s no surprise that further bad news in the jobs market comes via a survey by the Recruitment and Employment Confederation (REC) who found that vacancies at UK employment agencies are falling at their fastest ...




October 29, 2008

Global shares recover driven by rate cut hopes

by Kay Mitchell
”Global
It is believed that the US Federal Reserve will cut interest rates this week, which has boosted shares worldwide following a severe decline earlier this week on fears of a global recession. The Fed is widely expected to cut rates by half a percentage point to 1%. This resulted in a sharp rise on Wall Street after the Dow Jones ...




October 24, 2008

Economy slows, shares plummet as recession looms

by Kay Mitchell
”Economy
According to the Office for National Statistics (ONS), the British economy shrank for the first time since 1992 as the UK flirts with recession. Many reports this week have confirmed that the UK is on the brink of recession with Bank of England Governor, Mervyn King, issuing a recession warning. However, a forecast published over the weekend by the Ernst & ...




October 7, 2008

Fears over the future of RBS after shares take a battering

by Kay Mitchell
”Fears
The turmoil in the stock markets continues this morning after shares in Royal Bank of Scotland (RBS) plummeted by over 35% to below the £1 mark. The bank is now worth just £16 billion, compared to £75 billion a year ago. RBS shares plunged to 95p, the lowest point since the recession of the early 1990s. Speculation is ...




October 6, 2008

Panic hits FTSE despite Chancellor’s reassurance

by Kay Mitchell
”Panic
The FTSE 100 plummeted today to close at 4,589.2, after falling 391.1 points - or 7.85%. The fall marks the biggest one-day points fall ever and was the third-worst percentage fall since the FTSE 100 was launched in 1984. The fall comes despite Chancellor Alistair Darling announcing that the Government will do whatever it takes to ensure the stability of the financial ...




FTSE plummets amid another eventful weekend

by Kay Mitchell
”FTSE
It has been yet another weekend full of news in the banking sector which has sent shares in London and Europe crashing. Meltdown Monday saw the FTSE 100 index down by over 6% by mid-morning to 4675 - a fall of 304.6 points. Banks including HBOS fell 32p, while Royal Bank of Scotland lost 26p. Across the Atlantic, the US $700 billion ...




September 16, 2008

HBOS shares plummet nearly 50% amid Wall Street chaos

by Kay Mitchell
”HBOS
Shares in Halifax banking group, HBOS, lost 30% at one point today, following its fall of 18% yesterday. Banking stocks throughout the world are falling as the turmoil continues on Wall Street due to the collapse of Lehman Brothers yesterday, and fears of the future of insurance giant, AIG. In a second day of panic selling, the FTSE 100 index ...