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Stock Market Crash – Dow Jones Down 777.68

admin — Mon, 29 Sep 2008 23:14:21 +0000

A worrying week on Wall Street – 18 Sept 08

admin — Sat, 20 Sep 2008 11:26:11 +0000

The collapse of America’s fourth largest investment banks and fears about the stability of other financial institutions have led to some on the most worrying days in Wall Street’s history.

Al Jazeera’s John Terrett reports on a week that has seen the Dow Jones index have its best and worst days in over half a decade.

Stock Market Analysis 19th september 2008

admin — Fri, 19 Sep 2008 21:05:20 +0000

Stock Market Technical Analysis 9/19/08

HBOS confirms Lloyds merger talks

admin — Wed, 17 Sep 2008 16:25:24 +0000

HBOS has confirmed it is in advanced talks with Lloyds TSB about creating a UK retail banking giant worth over £30bn.

The advanced talks are being encouraged by both the Treasury and Financial Services Authority (FSA) as a deal will ease concerns about the health of the UK banking sector.

News of the takeover comes just two months after HBOS raised £4bn through a rights issue. At the time just 8% of the issue was taken up by investors, leaving underwriters with the bulk of the shares.

HBOS, which was created by the merger of the Halifax and Bank of Scotland in 2001, has come under pressure in recent days amid concerns about its exposure to the US sub-prime market.

As the UK’s largest largest mortgage lender HBOS has been hit by recent weakness in the property market. It also borrows a large proportion of its funding from the wholesale money markets where available funding has been drying up.

On the London Stock market today, HBOS shares climbed as high as 220p and fell as low as 88p during morning trading.