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| UK Market Update Archive: |
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UK, Europe Indexes Near 20% Loss
Jul 08, 6:57 PM EDT |
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| Stocks in UK and Europe fell as banks fell in the region on the worries that more write downs are likely in the latest earnings results. |
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| UK stocks fell as credit market worries linger. Business survey predict business recession in the near term. The FTSE 100 index is down 20% from its peak in the last one year of trading. The stock of LSE led the decliners in FTSE 100 index after an analyst estimated a revenue decline of 4% ahead of annual meeting tomorrow. Standard Chartered Bank dropped 2.2%, HBOS fell 1.6% and Barclays declined 1%. European markets declined led by a fall in banks across the region. |
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FTSE 100 Rises 1.9%
Jul 07, 3:26 PM EDT |
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| Commodity stocks drove the market upwards on speculations that the stocks were oversold in the previous trading sessions. |
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| Stocks in UK fell despite a government report that showed UK manufacturing unexpectedly fell in the three months to May as machinery and equipment industries lost ground. In addition, a report released today by KPMG and the Recruitment and Employment Confederation indicated that permanent staff placements fell the most in five years. |
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European Banks, UK Home Builders Fall
Jul 04, 5:20 PM EDT |
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| European banks and UK home builders closed sharply lower on the worries that additional capital may be difficult to raise. |
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| European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley. |
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Taylor Wimpey, Marks & Spencer Plunge
Jul 02, 4:51 PM EDT |
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| UK stocks declined after Marks & Spencer issued earnings warning and home builder Taylor Wimpey suspended its dividend and forecasted gloomy outlook. |
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| Marks & Spencer dropped 24% after it reported same store sales declined 5.3% in the UK. The company warned that earnings will be revised on the lower sales in the UK. Other retailers fell sharply and dragged benchmark index lower. Taylor Wimpey, home builder announced that it will cut its dividend and take a write-off of £660 million. The home builder forecasts weak housing market till 2009 and also failed to attract new capital. Taylor stock dropped as much as 46%. |
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UK Stock Fall 2.6%, Weak Home Prices
Jul 01, 7:09 PM EDT |
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| Weakness in banks and financials dragged market indexes lower in UK. Home prices in June fell, but at a lower rate in May. |
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| The stocks in UK fell sharply after home prices fell 0.9% in June and home sales remained weak across the country. The weakness in the U.S. trading at the UK close also contributed to the weak sentiment in London trading. Record crude oil prices, rising inflation fears and worries related to further write downs at UK banks dragged market indexes lower. Barclays shed 3.4%, Royal Bank of Scotland declined 5% and Standard Chartered fell 2%. |
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UK Loans and Confidence Decline
Jun 30, 4:22 PM EDT |
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| Stocks in Londodn trading rose despite two separate showed tighter credit conditions and falling consumer confidence. |
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| UK consumer confidence fell to a record low on rising fuel and food prices and tighter credit conditions. Another survey of banks showed that banks estimate more than six months before credit markets will stabilize. The BoE reported that mortgage loans in May fell to 42,000 from 58,000 in April. A spike in crude oil price in London lifted energy stocks. |
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FTSE Declines; Inflation, Write Down Worries
Jun 26, 2:32 PM EDT |
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| UK stocks led the decliners in the European markets with FTSE 100 index closing down 2.6%. |
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| UK stocks declined after the BOE Governor King projected higher inflation for the rest of the year. Rising fuel and food prices are stoking higher inflation expectations. UK and European markets fell between 1.5% and 2.5% after analysts revised estimate of asset write downs at the U.S. banks higher. Barclays and Royal Bank of Scotland dropped more than 3% and HSBC declined 2%. |
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UK Stocks Rise, Barclays £4.5 B Offering
Jun 26, 2:27 AM EDT |
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| Barclays, for months refusing that the bank needs capital finalized a plan to raise $9 billion from key investors. |
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| London stocks rose marginally driven by financial stocks after Barclays announced a rights issue to boost its capital base from investors including Qatar Investment Authority, China Development and Sumitomo Mitsui Banking Corp. In addition, retailers gained as Qatar Investment Authority upped its stake in Sainsbury to 25.3%. |
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Barclays Raises $9 B
Jun 25, 3:59 PM EDT |
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| Barclays, the fourth largest UK bank announced a plan to raise $9 billion after its required capital ratio fell below the long term target. |
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| Barclays will raise 4.5 billion in a offering that will have key investors with commitments. Sovereign funds of Qatar and Singapore along with China Development Bank and Sumitomo Mitsui Banking Corporation amon other institutional investors will invest up to 4 billion at a discount of 9.3%. The current and new shareholders will be able to invest at 4.7% discount. The stock rallied in New York and London trading. |
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UK Home Loans Plunge
Jun 24, 4:34 PM EDT |
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| Mortgage loans for home purchases fell sharply in May as conditions in the credit market tighten. |
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| UK mortgage loans in May fell 56% from a year ago and 20% from April. The sharp decline comes after credit markets and conditions for mortgages are tightened. The report from the BBA also suggested that credit card borrowing increased 7.4%, as spending rose at a faster rate then loan repayment rate. BG Group took its offer directly to shareholders of Origin Energy Limited and offered A$15.50 or A$13.8 billion. Earlier management rejected the same offer from BG. |
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