London close: Stocks rebound as Greek debt-swap looms
7th Mar 2012 16:35
-Greek debt-swap participation rate estimated at 58%. -Greek government confident of achieving rate of at least 75%. -Admiral surges after full-year results. London's blue chips bounced back today, following yesterday's sharp selling, with investors now looking to tomorrow's Greek debt-swap deadlin
Read moreFTSE 100 movers: Ex-div stocks provide a drag, Admiral jumps
7th Mar 2012 15:01
Cigarettes maker British American Tobacco was the heaviest faller after trading without the right to its latest dividend. Irish building materials group CRH and banking giant Standard Chartered were also declining after going ex-dividend. Meanwhile, car insurance giant Admiral soared in to top spot
Read moreLondon midday: Stocks edge higher, markets await Greek debt-swap
7th Mar 2012 11:25
- Admiral jumps 11% as outlook improves. - BATS, CRH, Serco down after going ex-dividend. - Markets await the Greek debt-swap deadline. Following a shaky start, London's FTSE 100 index looked to have found its direction by midday, trading three tenths of a percent point higher following the sell-of
Read moreBroker tips: Admiral, Cobham, Chariot Oil and Gas
7th Mar 2012 11:24
Shares in car insurance group Admiral raced 11 percent ahead on Wednesday morning following the release of its full-year figures, with Nomura giving a lift after saying that the results give comfort on prospective forecasts. Importantly, Nomura says that the ultimate loss ratio (ULR) of 74% was in
Read moreBroker snap: Admiral results ahead of expectations, Nomura says buy
7th Mar 2012 10:14
Shares in car insurance group Admiral raced 11 percent ahead on Wednesday morning following the release of its full-year figures, with Nomura giving a lift after saying that the results give comfort on prospective forecasts. Admiral saw pre-tax profits rise 13% to £299m in 2011, some 5% above conse
Read moreLondon open: Ex-div stocks offset a surging Admiral
7th Mar 2012 08:34
- Admiral surges 11 percent on full-year results. - Ex-div stocks provide a drag. - Greek debt-swap deadline looms. Following the 2.8 percent tumble over the last three days, the Footsie opened broadly flat on Wednesday ahead of tomorrow's deadline for the Greek debt-swap. A surge in the share pric
Read moreWednesday broker round-up - UPDATE
7th Mar 2012 08:33
John Wood: HSBC downgrades to underperform from neutral. Aquarius Platinum: Panmure Gordon upgrades to buy from sell. Lonmin: Panmure Gordon upgrades to buy from sell. Admiral: Nomura maintains buy rating and 1,100p target. Anglo American: AlphaValue upgrades to buy from add and lowers pri
Read moreAdmiral announces special dividend as revenues beat forecast
7th Mar 2012 07:20
Car insurance giant Admiral has decided to pay a special dividend as it seeks to curb the number of high value bodily injury claims which have dented recent figures. Admiral saw pre-tax profits rise 13% to £299m in 2011 with net revenue up 36% at £870.3m. Both those figures beat the consensus forec
Read moreWednesday preview: Admiral, Costain, Sportech, Lookers
6th Mar 2012 17:46
Car insurance group Admiral is due to report its full-year figures on Wednesday, with the market keen to see whether the unusually high frequency and expected cost of new large personal injury claims seen in the third quarter continued into the fourth quarter. Credit Suisse recently upgraded its r
Read moreLondon close: Footsie falls, banks rise but miners provide a drag
2nd Mar 2012 16:33
- Kazakhmys drops after broker downgrades. - Banks jumps after Goldman comments. - Eurogroup releases 58bn euros but delays full Greek bailout. - 25 EU members sign fiscal pact. The FTSE 100 fell close to its lowest levels of the day on Friday as Eurozone concerns continued to dampen the mood. A
Read moreWeek ahead: Glencore and Admiral
2nd Mar 2012 09:30
Monday will see the full-year results from Swiss commodities giants Glencore. The firm has hit the headlines in the last month after it confirmed its proposal to merge with FTSE 100 peer Xstrata to create a "major natural resources group with a combined equity market value of $90bn". Glencore pre-
Read moreBroker snap: Nomura downgrades RSA to neutral
24th Feb 2012 10:50
Nomura has downgraded insurance group RSA from buy to neutral given the lack of a catalyst in yesterday's full-year results. "Our original investment thesis was predicated on RSA being a quality defensive stock. This still holds true, but we persisted with our buy in spite of the rally as we looked
Read moreLondon close: Stocks slip as doubts remain over Greece
21st Feb 2012 16:32
- Doubts still remain over Greek despite €130bn bailout. - Vedanta jumps on speculation of restructuring. - Kenmare rises on takeover rumours. London's blue chip index finished the day slightly lower as last night's approval by Eurozone finance ministers to grant Greece its next aid package underwh
Read moreBroker tips: Admiral, Petropavlovsk, Aberdeen Asset Management
21st Feb 2012 12:25
Credit Suisse has upgraded its rating on Admiral from neutral to outperform ahead of the insurer's full-year figures on March 7th. The broker expects the results "to represent the first step for Admiral towards regaining market confidence that bodily injury (BI) challenges are being resolved, with
Read moreBroker snap: Credit Suisse upgrades Admiral to outperform
21st Feb 2012 12:18
Credit Suisse has upgraded its rating on Admiral from neutral to outperform ahead of the insurer's full-year figures on March 7th. The broker expects the results "to represent the first step for Admiral towards regaining market confidence that bodily injury (BI) challenges are being resolved, with
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