Large claims put dampener on record year at Admiral
9th Nov 2011 07:11
Insurance firm Admiral announced it expected record profits this year but warned they 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 pr
Read moreFTSE 100 Movers: Weir tumbles more than 5%
7th Nov 2011 13:01
Weir Group, the Glasgow based engineering giant, was heading lower after warning that "downstream market conditions remain challenging". However, the firm had positive news too, saying revenues in the third quarter grew more strongly than in the first half of the year and also on a like for like b
Read moreDigital Look broker talk -UPDATE
7th Nov 2011 09:37
RBS: "At c0.45x TBV, the shares already discount a lot of negative news. The group prospects are uncertain and vulnerable to downturns in the economy and financial markets. Our recommendations of Barclays and the two Far Eastern banks are more analysable. However, RBS does now look oversold to us, e
Read moreLondon open: Footsie heads lower as G20 heats up
3rd Nov 2011 09:08
BThe Footsie fell lower on Thursday morning, with investors keeping a cautious eye on developments in the Eurozone, as the G20 Summit begins to heat up in Cannes. GREEK ROWS ONGOING It's now make-or-break time for Greek prime minister George Papandreou, after German chancellor Angela Merkel and Fr
Read moreUPDATE: Monday broker round-up
10th Oct 2011 09:08
Antofagasta: Morgan Stanley downgrades to 'underweight' from 'equalweight'. Capita: Galvan Research and Trading gives buy rating and 760p target. Premier Oil: HSBC upgrades to 'overweight' from 'equalweight'. GKN: Credit Suisse cuts target to 205p from 243p. IMI: Credit Suisse cuts target to 67
Read moreBroker tips: Burberry, Admiral, Cookson
3rd Oct 2011 12:56
Nomura has kept its neutral rating on British luxury brand Burberry ahead of the group's first half trading update on 12 October. The broker expects Burberry to report 29% constant currency sales growth to £820m, but forecasts a 50 basis point decline in the first half earnings before interest and
Read moreBroker snap: Regulatory pressures continue for Admiral, says Investec
3rd Oct 2011 12:55
Investec has maintained its sell rating and 843p target price on FTSE 100 motor insurer Admiral, highlighting continuing pressures from the Association of British Insurers (ABI). Analyst Kevin Ryan said, "Following ABI's victory in getting the Ministry of Justice to announce it will ban referral fe
Read moreUPDATE: Monday broker round-up
3rd Oct 2011 09:03
Antofagasta: Citi upgrades to hold, target cut from 1,230p to 1,010p. Man Group: Citi has kept its hold/high risk rating and 190p target. Lonmin: Citi maintains hold/medium risk recommendation and 1,237p target. Burberry: Nomura reiterates neutral rating and 1,356p target. Cookson: UBS upgrades
Read moreBroker tips: Insurers, SABMiller, United Utilities
22nd Sep 2011 12:38
Credit Suisse has refreshed its views on the UK life insurance sector, staying positive with an outperform rating on Prudential, saying that it is a "structurally more attractive company given its geographic bias." Aviva is upgraded to outperform, as the broker thinks it has been oversold on Europe
Read moreBroker snap: Prudential, L&G and Aviva to outperform, says Credit Suisse
22nd Sep 2011 12:01
Credit Suisse has refreshed its views on the UK life insurance sector. "Our base case from a macro perspective is that economic growth stalls, interest rates stay low for an extended period and equity markets remain volatile. While this implies a challenging macro backdrop, we are constructive on t
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreAll hands on deck as Admiral non-exec buys
13th Sep 2011 14:06
Non-executive of Admiral, John Sussens's wife has bought £381,900 worth of shares in the insurance firm. This is the second purchase for wife Cheryl, increasing her stake in the company by 30,000 shares to a total of 52,000. The first purchase, made at the end of August, saw the shares purchased
Read moreLondon close: Stocks dive on euro worries
9th Sep 2011 16:55
The volatility continued heading into the weekend and stocks were nursing hefty losses at the close of play. The resignation of European Central Bank official Juergen Stark brought the Eurozone crisis into focus. Stark, a German, like many of his compatriots is unhappy about the Bank's policy of b
Read moreLondon midday: Stocks fall after flat start
9th Sep 2011 12:06
Stocks have eased slightly as nerves set in ahead of this weekend's meeting of the G7 grouping of industrialised countries. Motor insurer Admiral is in the slow lane after saying it could see "a small proportion" of its profits put at risk under the government's plans to ban the payment of referra
Read moreFTSE 100 Movers: Tullow rockets after discovery
9th Sep 2011 11:17
Good news for Tullow Oil sent its share price soaring after its joint venture with Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana. The Guyana Maritime permit said it has encountered 72m of net oil pay in two turbidite fans, and the results
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