Broker snap: Sound investment case at Admiral, says Nomura
24th Aug 2011 12:42
Despite the tumble in Admiral's share price on Wednesday, Nomura has reiterated its positive stance on the stock, saying that headline results from the car insurer came in more or less in line. In the first half, the firm reported a pre-tax profit of £161m, ahead of consensus of £159m but below Nom
Read moreLondon midday: Stocks mixed after stream of updates
24th Aug 2011 12:10
The leading share index is flitting between red and blue amid differing receptions for today's stream of updates. Investors in Admiral are feeling mutinous despite pre-tax profits growing by 27%. However, according to a Thomson Reuters poll, the result was a slight miss. Miner BHP Billiton is hig
Read moreLondon open: Admiral drags Footsie into the red
24th Aug 2011 08:29
Early gains proved short-lived as the blue chip index in London fell into the red by 08.32, dragged lower by Admiral and the miners, who were registering losses on the back of falling metals prices. Admiral was the worst performer on the FTSE 100, losing over 5% after despite pre-tax profits growi
Read moreLondon pre-open: Footsie bandwagon rolls on
24th Aug 2011 07:18
Encouraged by Wall Street's solid showing overnight, UK shares are set to continue their recent revival, with City traders predicting the top-share index will open at around 5,174, up 45 points from last night's close. Car insurer Admiral announced record half-year figures, with profit before tax 2
Read moreMarket keel-hauls Admiral despite record results
24th Aug 2011 07:18
The share price of car insurer Admiral was showing a few dents on Wednesday morning despite unveiling record interim results. The share price fell 74p to 1,461p at the outset of trading, despite a 27% increase in half-year pre-tax profit to £160.6m from last year's £126.9m. Turnover jumped 53% to
Read moreWednesday preview: Tullow Oil, Admiral, Serco
23rd Aug 2011 17:32
Broker finnCap thinks there is a good chance that Tullow Oil will cut its full-year guidance, after its partner on the Jubilee field, Kosmos Energy, reported a slower than expected ramp-up of production at the field, located off the coast of Ghana. "Current guidance is 90-94mboepd [million barrels
Read moreWeek Ahead: Lower output guidance expected from Tullow
19th Aug 2011 11:41
After a brief lull, the flow of company results is starting to increase again, with big names such as Admiral, Diageo, Petrofac, G4S, Antofagasta, Cairn, Wood Group, Serco, Tullow, WPP, BHP Billiton and Kazakhmys all set to report. Broker finnCap thinks there is a good chance that Tullow Oil will c
Read moreLondon close: US debt uncertainty persists, Footsie finishes under
25th Jul 2011 16:42
The Footsie trimmed earlier gains as markets in the US recovered after a weak start. Despite falling as low as 5,893 on Monday, London's blue chip index finished firmly above the 5,900 mark, as giants BP, ARM, BG and GlaxoSmithKline rose ahead of their interim results due tomorrow. While stocks on
Read moreLondon close: BSkyB, financials provide a drag
11th Jul 2011 16:37
The Footsie dropped over 1% lower on Monday as satellite broadcaster British Sky Broadcasting (BSkyB) and European debt-contagion fears weighed on sentiment. Shares of BSkyB took a tumble as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was pre
Read moreFTSE 100 movers: BSkyB leads fallers, Int'l Power rises
11th Jul 2011 15:11
Shares of BSkyB dropped by6% and was the top loser on the blue chip index on Monday as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was preparing to ask telecoms regulator Ofcom for additional advice. The Australian government's proposal on cl
Read moreSector movers: Insurers rise, retailers fall
7th Jun 2011 16:09
The life insurance sector is being boosted higher by the blue chips today, after Resolution announced a share repurchase. UK insurance buyout firm Resolution was the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' r
Read moreFTSE 100 movers: Insurers dominate the risers
7th Jun 2011 15:34
UK insurance buyout firm Resolution is the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' recommendation on the stock, saying that - given lower asset and debt leverage - "the Resolution business should be at a premi
Read moreFTSE 100 movers: Insurers under the weather
23rd May 2011 15:12
Analysts at Digital Look have attributed the share price weakness of insurers Admiral and Old Mutual to the Icelandic volcano, which could cause disruption to travellers across western Europe on reports of a drifting ash cloud. Airline International Consolidated Airlines is also flying lower. Also
Read moreBroker tips: Admiral, Cobham, RPS
9th May 2011 11:51
After a strong first quarter statement, Admiral has seen its target price raised by Credit Suisse to reflect upside revisions to the broker's near-term earnings forecasts. "Few details were released in the interim management statement on Friday. However, the delta between revenue and vehicle count
Read moreBroker snap: Strong first quarter for Admiral
9th May 2011 11:31
After a strong first quarter statement, Admiral has seen its target price raised by Credit Suisse to reflect upside revisions to the broker's near-term earnings forecasts. On Friday, the car insurer reported a 56% year-on-year growth in first quarter turnover to £539m, while group vehicle count was
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