Financial News

LONDON, Sept 29 (Reuters) - Britain's top share index plummeted on Monday to a three-year closing low, part of a global equities slide triggered by tottering banks and ahead of a vote by U.S. lawmakers on a $700 billion rescue plan. The FTSE 100 index ended down 269.7 points, or 5.3 percent, at 4,818.8, after losing 2.1 percent on Friday. The blue-chip index has fallen 12 percent in September, on ...

FRANKFURT, Sept 29 (Reuters) - European shares dropped to a three-and-a-half year closing low on Monday, with banks weighing on the benchmark index amid persistent worries about the health of the financial industry on both sides of the Atlantic. The FTSEurofirst 300 index of leading European shares ended unofficially down 4.95 percent at 1,050.12 points -- its lowest closing level since Jan.  ...

Jonathan Prynn, Evening Standard29 September 2008, 5:02pm Reader comments (4) Billions of pounds were wiped from the value of high street banks in a day of panic in the City. Shares plunge: The FTSE is back below 5000 despite the state bailout of B&B WANT TO KNOW MORE? B&B to be nationalised OTHER STORIES Market report: Monday close Sunday newspaper share tips Citigroup snaps up US bank Wachovia B&B takeover gives Santander 10% of savings US bailout fails to calm ...

FRANKFURT, Sept 29 (Reuters) - European shares fell further late on Monday, with banks weighing on the index as investors worried a U.S. rescue plan for the financial sector might not be able to stem the growing fallout from the credit crisis. News of the takeover of Wachovia Corp's bank operations by Citigroup and the part nationalisation of two major European banks battered banking stock ...

Evening Standard29 September 2008, 3:31pm Gulf state Qatar has become a major shareholder of Camden Market after buying a 20% stake in property group Chelsfield. Trading place: Camden Market is one of the key assets belonging to Chelsfield WANT TO KNOW MORE? Abu Dhabi to fund Hollywood movies Restructuring booms but property falters Monaco property prices overtake London OTHER STORIES Bank shares plunge again despite bailouts Market report: Monday latest Sunday news ...

AMSTERDAM, Sept 29 (Reuters) - Global financial authorities won't give in to fears and are determined to restore confidence to financial markets, Italian central bank governor Mario Draghi said at the Financial Stability Forum on Monday. "It's quite clear that the emphasis of our discussions was on the willingness and the determination that our authorities have in winning the battle t ...

LONDON (Thomson Financial) - Abraxus Investments Plc. said its shares have been temporarily suspended from trading as the company carries out talks relating to its investment strategy. In comments alongside results for the year to end-March, the company said its activities during the period were devoted to identifying and investigating various investment opportunities. This is ongoing but the gro ...

By Ellis Mnyandu NEW YORK (Reuters) - Stocks tumbled on Monday as investors worried about the stability of the banking sector after Wachovia Corp became the latest major U.S. bank to succumb to fallout from the credit crisis. Additionally, investors worried if a U.S. bailout plan would help stem the contagion that prompted rescues of two major banks in Europe and led central banks, i ...

FRANKFURT, Sept 29 (Reuters) - European shares extended losses on Monday after Wall Street opened lower, as the takeover of Wachovia Corp's bank operations by Citigroup heightened concerns about the fallout from the credit crisis. By 1357 GMT, the FTSEurofirst 300 index of top European shares was down 4.2 percent at 1,058.65, while the Dow Jones industrial average was down 2.7 percent.  ...

ZURICH, Sept 29 (Reuters) - Swiss bank UBS is expected to announce fresh writedowns before its Oct. 2 shareholder meeting but may try to present this as a turning point as the writedowns will be smaller than in previous quarters, analysts say. UBS's new chairman Peter Kurer, who is pushing through a separation of the troubled investment bank from the core wealth management arm and has promised be ...