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Central banks pump £100bn into markets

Central banks pumped £100bn into world markets last week to ease the suffering of financial institutions in the UK and around the world.

The collaborative effort to tackle the liquidity crisis saw the US Federal Reserve loan dollar funds to the Bank of England, the European Central Bank, the Bank of Japan, the Bank of Canada and the Swiss National Bank.

The move to get the liquidity markets flowing again came too late for HBOS, which at one stage saw its shares plummet by 50% to lows of 88p per share.

Short selling – thought to be a contributing factor in the HBOS share downfall – was banned by the Financial Services Authority on Friday.

Following Lloyds TSB’s takeover of HBOS, shares rallied and the FTSE 100 saw the sharpest one-day rise in its 24-year history. HBOS shares jumped to 263p and Lloyds TSB’s price rose from 233p to 393p.


Beware of dealing with First National and igroup

GE Money’s 2 mortgage brands, First National and igroup, sent us emails yesterday evening saying that they were going to put two fingers up at the FSA’s mandatory Treating Customers Fairly (TCF) policy.

Property sales plummet for August

Figures from HM Revenue & Customs have revealed that the number of houses sold in the UK last month fell by over half compared to a year ago.

Central banks club together to tackle funding

The Bank of England is injecting $40bn into the markets as part of a combined effort across several central banks to tackle the pressures on funding markets.

Brexit and the mid cap buying opportunities

Video update from Mark Martin, Head of UK Equities, Neptune Investment Management With the Brexit referendum scheduled for 23 June, how much risk is priced into the market and is the current volatility a long-term buying opportunity? Watch Mark Martin, Head of UK Equities, and Holly Cassell, Assistant Manager on the UK Mid Cap and […]


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