LSE Market News

Lloyds Banking Group (LSE:LLOY) has a small problem. Question:  When is the best time to sell something? Answer:  When someone wants to buy it. Situation:  Lloyds Banking Group needs to sell 630+  bank branches. Problem:  No one wants to buy them. In December 2011 the news was that the Co-Operative Group was the preferred bidder […]

Barclays have announced a 35% fall in first quarter profits. Citing the cost of transforming the bank to become a “Go-To” bank profits fell by £609m to £1.8bn. An increase in European losses was a further contributing factor to the first quarter losses. In a statement the bank’s chief executive, Antony Jenkins, said  “We set […]

On 13 February 2013 the share price of Reckitt Benkiser (LSE:RB.) was up 2.9% to 4454.00 following the release of its 2012 annual results.  This morning, 22 April 2013, RB’s share price reached 4760.00 in early trading before backing off to 4678.00 by mid-afternoon.  ADVFN had reported on the earlier date that Reckitt Benkiser was […]

“Reputation is an idle and most false imposition; OFT got without merit, and lost without deserving.” ~ William Shakespeare The share price of GlaxoSmithKline (LSE:GSK) plunged 12.0 pence to 1646.0 by mid-afternoon following allegations by the Office of Fair Trading (OFT) that GSK may have illegally delayed the introduction of generic drugs in order to […]

Failure of Fresh & Easy stores to cost company £1.2bn Following a failure to make a success out its US operation Tesco’s is to close all 199 of its Fresh & Easy shops, at a cost of £1.2bn. Making the decision after a strategic review of Fresh & Easy, including the indications of interest received […]

Xstrata plc Chief Executive Officer Mick Davis has agreed with Glencore International plc to not take up the six month role of Chief Executive Officer and Executive Director of Glencore Xstrata plc (“Glencore Xstrata” or “the Combined Group”) following completion of the merger. Consequently Mr Davis will step down from Xstrata plc upon completion of […]

Change in name to reflect greater cooperation between investment and real estate operations M&G Investments, one of Europe’s leading investment managers, today announces that its property business, PRUPIM, will be renamed M&G Real Estate. The change of name is effective from the end of June. Alex Jeffrey, Chief Executive of PRUPIM, says the name change […]

It’s been a 14-month distance that Glencore (LSE:GLEN) and Xstrata (LSE:XTA) have run, but the finish line is now within view as China’s Ministry of Commerce (MOFCOM) has approved the merger of the companies.  Thus the last and final obstacle to the merger’s completion has been removed.  The share price of Glencore was up 3.22% […]

Southern North Sea oil stake bought from BP SSE  has completed the acquisition from BP of a 50% working interest in the Sean gas field in the Southern North Sea. SSE has paid a total cash consideration of £117.4 million, which reflects the value of the asset based on an effective economic date of 1 […]

“There’s fool’s gold—pyrite—and then there’s fool’s gold—gold owned by idiots willing to trade it for worthless dollars.” ~ Jarod Kintz Some blame Cyprus.  Others blame China.  Yet others blame the U.S.  Regardless of whom you choose to blame, the price of gold has declined in the last two days of trading from $1,561 per ounce […]