Barclays
Financial CDSs widen worldwide
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
CDSs on Fortis tighten
The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.
CDSs widen on UK banks
Credit derivatives referencing UK banks continued to widen this morning, following a week in which Lloyds TSB announced it will absorb a £10 billion loss due to its merger with HBOS.
Shorting still weak after UK ban ends
There has been little evidence of increased short selling activity on UK financial stocks since the Financial Services Authority (FSA) lifted its ban on the practice on January 16.
Barclays Capital expands executive committee
Barclays Capital has added eight managing directors to its executive committee, after completing the integration of Lehman Brothers' US investment banking and capital market businesses.
UK CDS spreads up
The cost of credit protection on UK banks increased in early trading this morning, while US financial institutions experienced mixed market sentiment.
Executive pay reviewed at Barclays, UBS and Goldman
Barclays, UBS and Goldman Sachs have announced moves to halt bonus payouts for top executives in 2008, as huge subprime losses and writedowns have placed compensation policies under increased scrutiny.
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.
RBS, HBOS and Lloyds TSB ask for government capital
The UK government announced this morning it will pour a total of £37 billion into Royal Bank of Scotland (RBS), HBOS and Lloyds TSB, as part of a recapitalisation plan revealed last week.
UK bank CDS spreads tighten further
The cost of credit protection on UK banks fell further in early trading today following the unveiling of a £50 billion government rescue plan on Wednesday, but US markets remained unstable.
CDS spreads widen despite bailout approval
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.
CDS spreads tighten as bailout is revised
The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.
CDS spreads continue to tighten
Credit default swap (CDS) spreads on financial institutions had tightened further by close of play on September 19, as market confidence continued to rise after large injections of cash from central banks
CDS spreads tighten after central bank efforts
Credit default swap (CDS) spreads on financial institutions tightened yesterday as market confidence improved following a range of measures from central banks.
Barclays delivers fourth issue of Emerging Markets Optimiser
Barclays Wealth has released the fourth issue of its five-year Emerging Markets Optimiser, which has accrued more than £50 million since the first tranche launched in February. The plan offers the Eastern European option that was introduced in the June…
Commodity plays and hedges
Barclays Bank is offering a link to 14 commodities and one commodity index which allows investors to take a stake in the rise of the main commodity subsectors while also providing a natural hedge against inflation
Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
Barclays appoints Jenkins chairman for Middle East
Barclays has appointed Roger Jenkins chairman of investment banking and investment management (IBIM) for the Middle East.
Huey Evans joins Barclays
Gay Huey Evans has been appointed Barclays’ new vice-chairman of investment banking and investment management (IBIM). She takes up this newly created role in mid-April, and will focus on developing and managing relationships with sovereign funds.
UK banks show resilience
London-based Barclays has reported improved earnings for 2007, despite a $3.2 billion (£1.6 billion) net loss due to exposures to US subprime loans.
Lower losses than feared at Barclays
Barclays reported a total of £1.5 billion in write-downs associated with US subprime mortgages between June and October this year, reassuring investors who had feared far higher losses.
BarCap: CDB link will yield commodity opportunities
The £1.5 billion stake taken in Barclays by the state-owned China Development Bank (CDB) will help spur the two banks’ expansion in Chinese commodity derivatives, according to Benoit de Vitry, Barclays Capital’s London-based global head of commodities,…