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LONDON MARKETS: Lloyds, BP Among Few Gainers In Lower London

31.12.69

Sentiment eroded further in London on Tuesday, with mining and some banking stocks driving the losses. But Lloyds Banking Group PLC and BP PLC rose on earnings reports.

The FTSE 100 index fell 0.5% to 6,428.60, looking at a gain for the month of around 0.3%. The index closed up 0.5% on the prior session.

London stocks moved a leg lower after a gauge of manufacturing in the Chicago area slid to a more-than-three-year low in April, while the S&P/Case Shiller home price index rose 0.3% in February and U.S. stocks traded mostly lower.

On the upside in London, shares of Lloyds (LYG) rose 2.4% after the bank said it swung to a hefty profit in the first quarter of the year, with impairment charges dropping off and no need to put money aside to cover the misselling of payment protection insurance products.

Also higher, shares of Royal Bank of Scotland Group PLC (RBS) rose 3.8%. The company is due to report first-quarter results on Friday.

However, shares of heavyweight Barclays PLC (BCS) fell 2%, and Standard Chartered PLC dropped 1%.

Source: Fox Business

bBarclays/b PLC (NYSE: BCS) Boosts Estimates on Verizon (NYSE: VZ b.../b

Equities research analysts at Barclays PLC (NYSE: BCS) boosted their earnings per share estimates on shares of Verizon (NYSE: VZ) in a research note to investors on Monday. The analysts boosted their 2010 earnings per share estimate on the stock to $2.25 but lowered its 2011 earnings per share estimate to $2.30. The analysts reiterated their “equal weight” rating and $34.00 price target.

Verizon Communications Inc. (Verizon) is a provider of communications services. Verizon operates in two segments: Domestic Wireless and Wireline. Its Domestic Wireless’s products and services include wireless voice and data services and equipment sales across the United States. Wireline’s communications products and services include voice, Internet access, broadband video and data, next generation Internet protocol (IP) network services, network access, long distance and other services. It provides these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and in 150 other countries worldwide. On January 9, 2009, the Company acquired Alltel Corporation (Alltel). In July 2010, Frontier Communications Corp acquired New Communications Holdings Inc., Verizon Communications Inc.’s local wireline operations in 14 states.

Shares of VZ traded up 0.65% during mid-day trading on Monday, hitting $32.69.

Source: bBarclays/b PLC (NYSE: BCS) Boosts Estimates on Verizon (NYSE: VZ b.../b

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