Broker tips: Admiral, Experian, HomeServe
10th Nov 2011 12:53
UBS has downgraded insurance titan Admiral from buy to neutral and slashed the target price by a whopping 45%, from 1,610p to 890p, following the group's statement yesterday which resulted in over a quarter of its market value being lost. "Although we believe that Admiral remains among the best man
Read moreLondon midday: Italian yields fall, Experian leads recovery
10th Nov 2011 12:16
London's blue chip index has erased earlier losses to trade flat around lunchtime as Italian 10-year bond yields fell back below the critical 7% after the country's debt auction. Meanwhile, the Bank of England revealed at midday that it had kept interest rates at the record low level of 0.5%. ITALY
Read moreDigital Look broker talk - UPDATE
10th Nov 2011 11:44
Experian: "Experian offers investors strong economics, including high barriers to entry, solid growth, gentle margin expansion and strong cash conversion. With our generally constructive view on its Brazilian growth angle we remain buyers" [Citi]. Experian: "The half year numbers are a win win on e
Read moreBroker snap: UBS downgrades Admiral to neutral
10th Nov 2011 11:10
UBS has downgraded insurance titan Admiral from buy to neutral and slashed the target price by a whopping 45%, from 1,610p to 890p, following the group's statement yesterday which resulted in over a quarter of its market value being lost. Shares plunged on Wednesday morning after the firm's stateme
Read moreMorning broker round-up - UPDATE
10th Nov 2011 09:48
Experian: Citi reiterates buy with a target of 940p. Experian: Nomura reiterates buy and 867p target. Experian: Prime Markets confirms buy recommendation and 841p target. Anglo American: Citi keeps buy rating and 3,500p target. Admiral: Credit Suisse downgrades from neutral to underperform, targ
Read moreLondon close: Italian fears spark sell-off
9th Nov 2011 16:30
The top share index in London finished at its lowest levels of the day on Wednesday afternoon, as worries over the dire financial situation in Italy caused a mass sell-off across all European markets. The same worries also dampened sentiment in the US, with the three Wall Street benchmarks dropping
Read moreFTSE 100 Movers: Admiral dives more than 28%
9th Nov 2011 13:02
Shares in insurance firm Admiral tanked by more than 28% this morning after it warned 2011 profits would be at the lower end of expectations due to a jump in personal injury claims. In its third quarter statement the firm had said it expected to report record profits for the full year, around 10%
Read moreLondon midday: Financials take a hit as Italian bond yields jump
9th Nov 2011 12:14
Despite a modest start, the Footsie took a tumble during morning trade and stood at its lowest levels of the day by lunchtime, as the focus turned to Italy's soaring borrowing costs. Financials were leading the decline on the blue chip index. ITALIAN BOND YIELDS KEEP ON RISING Yields on benchmark
Read moreDigital Look broker talk
9th Nov 2011 11:10
Admiral: "Admiral's superior profitability has long been a mystery to us, but it now looks as if the apparently superior risk choice is being unwound... We see this IMS as an admission that Admiral is not immune from market forces and this will disappoint the market, we believe" [Investec]. Tullow
Read moreBroker tips: Admiral, Tullow Oil, Regus
9th Nov 2011 11:08
Investec says that "dark clouds [are] forming" at insurance giant Admiral, as it reiterates its sell rating and 843p target. Shares plunged on Wednesday morning after the firm's statement which warned 2011 profits would be at the lower end of expectations (just 10% higher than 2010) due to a jump i
Read moreBroker snap: Admiral 'not immune from market forces', says Investec
9th Nov 2011 10:25
Investec says that "dark clouds [are] forming" at insurance giant Admiral, as it reiterates its sell rating and 843p target. Shares plunged on Wednesday morning after the firm's statement which warned 2011 profits would be at the lower end of expectations (just 10% higher than 2010) due to a jump i
Read moreWednesday broker round-up - UPDATE
9th Nov 2011 09:58
Admiral: Nomura puts buy rating and 1,900p target under review Admiral: Investec keeps sell rating and 843p target. HSBC: Evolutions Securities keeps sell rating and 650p target. British American Tobacco: Alpha Value downgrades to reduce from add. Regus: Credit Suisse upgrades from neutral to o
Read moreLondon open: One in the eye for Admiral
9th Nov 2011 08:56
In keeping with most markets across the globe, London is on the up in the wake of the decision by Italian Prime Minister Silvio Berlusconi to proffer his resignation. Look below the surface, however, and you will see that the top-share index's modest rise is largely due to the strength of mining st
Read moreUPDATE: Admiral shares plunge on profit warning
9th Nov 2011 08:31
Shares in insurance firm Admiral tanked by 25% this morning after it warned 2011 profits would be at the lower end of expectations due to a jump in personal injury claims. In its third quarter statement the firm said it expected to report record profits for the full year, around 10% higher than the
Read moreLondon pre-open: London to enjoy Berlusconi bounce
9th Nov 2011 07:44
London is set to enjoy a Berlusconi bounce, with City sources predicting the FTSE 100 will open up 50 points from yesterday's close of 5,567. "If Berlusconi resigns in the next few days, as seems likely, then there will likely be a short relief rally in stock markets and the 'Berlusconi political
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