View more on these topics

FTSE buoyed by banks

The FTSE opened flat at 4,093 today as property stocks held back early gains from banks.

By 9am, the index was 0.08 per cent higher at 4,095 with Barclays up 3.2 per cent to 234.25p.

Lloyds Banking Group gained 6.8 per cent to 111.70p and Royal Bank of Scotland was up 7.3 per cent to 35.10p.

Recommended

BlackRock to run Eastern European Trust

The board of the Eastern European Trust (TEET) has handed the £86.4m mandate to BlackRock, after removing Pictet as the manager last year following a period of underperformance. Agne Zitkute, a fund manager at Pictet, ran the investment trust between March 2004 and May 2008. The mandate was then handed to Peter Jarvis, a TEET […]

Light in the East

It is to be expected that markets run out of puff during a holiday period. The whole basis of sell in May and go away is predicated on wealthy landowners, who owned the bulk of shares in days of yore, closing up their London houses and retiring to the country for the season. Easter may not be quite such a vacational imperative but the streets of the City are undoubtedly quieter and it is not just the recession.

Managers of JPMorgan trust up their gearing

The managers of JPMorgan’s £280m European Fledgling investment trust have upped their gearing for the first time in two years. The trust has 108% gearing, enabling its managers, Jim Campbell and Francesco Conte, to buy into more of the stock opportunities they see in the market.In February 2007, they removed all gearing and held cash […]

Mexico $47 billion IMF credit line approved

The International Monetary Fund (IMF) has approved a $47 billion (£32 billion) credit line for Mexico, making it the first country to receive the Flexible Credit Line (FCL) facility designed to combat the economic crisis.It is the largest financial arrangement in the history of the fund, which was boosted earlier this month when countries in […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment