Market friendly election results from India got equities off to a good start last week, and despite slipping into reverse gear midweek, global stock markets managed to close the week in the black.

Barclays was firmer on speculation that Blackrock and The Bank of NewYork Mellon may compete to acquire the BGI unit. Barclays seemed unaffected by reports that the creditors acting on behalf of Lehman Brothers are claiming foul play in the rushed purchase of the former US brokerage unit.

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admin :: May.25.2009 :: Uncategorized :: No Comments »

It was another good week for equity markets with the banks leading the charge. Barclays was the front runner, rising to over £2.90 at one point and gaining over 10% on Thursday alone. Barclays is benefiting from the so called ‘independence’ premium, and speculation over the potential gains to be made with the sale of its BGI unit. With today’s gains, Barclays has overtaken Britain’s only other remaining independent bank, in terms of returns over the last year. Barclays has lost 40.53%, while HSBC has lost 45.50% over the last 365 days. Interestingly, HSBC is the only major UK bank which hasn’t rallied by 55% or more in the last month. Santander’s results certainly helped sentiment in the sector across Europe.

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admin :: May.04.2009 :: Spread Betting :: No Comments »