MARKET TALK: St James's Biggest UK Life Sector Winner

23rd Jun 2010 09:33

0833 GMT [Dow Jones] St James's Place (STJ.LN) will be the biggest beneficiary amongst the UK life insurers from Tuesday's emergency budget says Panmure. Its share price had reacted badly to previous plans to curb pension tax relief for higher- rate tax payers and the proposed capital gains tax changes, with the share price about 20% lower than it was in November '09 when those issues were first highlighted. Panmure says key positives are pension tax relief, CGT not biting as hard as first anticipated and confirmation of the abolition of compulsory annuitization at 75 years. Buy ratig, 345p target. Shares are -1.1% at 222.5p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 23, 2010 04:33 ET (08:33 GMT)