Tuesday broker round-up UPDATE
5th Mar 2013 07:15
Abcam: Investec raises target price from 466p to 484p and keeps a buy recommendation. Numis revises target price from 470p to 530p and maintains its buy ratng. Access Intelligence: Merchant Securities initiates with a target price of 7p and a buy recommendation. Amlin: Canaccord Genuity raises tar
Read moreLondon close: Chinese data and Italian uncertainty weigh on stocks
4th Mar 2013 17:16
UK stocks ended the session moderately lower on Monday, pushed into decline by concerns over a stricter mortgage policy introduced in China, in an effort to curb soaring property prices, and political tensions in Italy. The news out of Asia prompted declines amongst resources stocks on fears demand
Read moreLondon midday: Chinese mortgage policy puts FTSE in the red
4th Mar 2013 12:00
UK stocks were sitting firmly in negative territory by midday on Monday, pushed into decline by concerns over a stricter mortgage policy introduced in China in an effort to curb soaring property prices. The news prompted declines amongst resources stocks on fears demand for building materials coul
Read moreAmlin to expand Marine business with acquisition
4th Mar 2013 08:55
Specialist insurance and reinsurance underwriting group Amlin on Monday announced it has entered into an agreement to acquire RaetsMarine, a managing general agent ranked in the top three global providers of fixed premium P&I business. The group has made the $50m transaction to expand its Marine
Read moreLondon open: HSBC off following results
4th Mar 2013 08:07
Investors have come back from the weekend to find that the budget sequester in the US is in 'full-swing' after US President Barack Obama and Republicans failed to reach an agreement to avoid 85bn dollars in automatic federal budget cuts which will come into effect throughout what remains of this fis
Read moreAmlin swings back into profit with strong financial performance
4th Mar 2013 07:52
Pre-tax profit rose to 264.2m pounds at FTSE 250-listed Amlin in the year ended December 31st, one year after the specialist insurance and reinsurance underwriting group reported a loss before tax of 193.8m pounds. In its preliminary results for the year, the group reported that it had £141.6m of c
Read moreLondon pre-open: Small gains expected on FTSE, tracking US higher
18th Jan 2013 07:29
City sources predict the FTSE 100 will open up 10 points from yesterday's close of 6,132, tracking gains seen in the US overnight. US stocks delivered decent gains on Thursday, particularly the Dow Jones, while the S&P 500 rose above its five-year high. For every stock that rose on the NYSE, one fe
Read moreAmlin Senior Independent Director to step down
18th Jan 2013 07:14
Amlin, the insurance and reinsurance firm, announced Friday that its Senior Independent Director, Nigel Buchanan, will step down from the board at the next annual general meeting (AGM) due to be held on May 16th 2013. Shonaid Jemmett-Page will be appointed Chairman of the Audit Committee in place
Read moreLondon close: Stocks finish flat on US budget uncertainty
20th Dec 2012 16:52
The FTSE 100 index finished broadly flat on Thursday afternoon, taking a pause of two days of decent gains, with the focus remaining on the US 'fiscal cliff' ahead of the Christmas holiday. Even a positive surprise in US gross domestic product (GDP) failed to give markets a boost. The American econ
Read moreFTSE 250 movers: Vesuvius gains after de-merger
20th Dec 2012 16:10
Vesuvius, the de-merged Engineered Ceramics division of former FTSE 250 group Cookson, surged on Thursday, on day after its split from the chemicals division (now called Alent) became effective. In a research report yesterday, Investec gave the stock a 'hold' rating but expressed optimism regarding
Read moreLondon midday: Stocks pause on 'fiscal cliff' concerns
20th Dec 2012 11:54
UK stocks traded broadly sideways on Thursday morning with 'fiscal cliff' uncertainty dashing hopes that a deal between US politicians can be struck before Christmas. Trade was cautious in London this morning with just 14 points separating the Footsie's intraday low and high. Stocks finished sligh
Read moreLondon open: Stocks flat on 'fiscal cliff' uncertainty
20th Dec 2012 08:33
The FTSE 100 was trading little changed on Thursday morning, taking a pause after coming close to its 52-week high the day before, with US 'fiscal cliff' concerns acting as a drag on sentiment. "In scenes reminiscent of the debt ceiling debacle of 2011 US markets slid back last night as the impasse
Read moreLancashire counts cost of Hurricane Sandy
20th Dec 2012 07:41
Insurance outfit Lancashire Holdings has estimated the impact Hurricane Sandy on the business will be in the region of 40m to 60m dollars. However, it added there was considerable uncertainty around this total and it could be revised. The firm said the preliminary loss estimate came from a combina
Read moreAmlin estimates Sandy losses at 145m pounds
20th Dec 2012 07:08
Insurance and reinsurance firm Amlin estimates its losses from hurricane Sandy, net of estimated reinsurance recoveries and inward reinstatement premiums, at 145m pounds. Approximately 80% of this is derived from reinsurance classes where the upper end of all known cedents' estimates of their reco
Read moreAmlin boosted by rate improvements and limited catastrophe losses
15th Nov 2012 09:17
Insurance and reinsurance firm Amlin has said that the underwriting environment for the period from the start of July has been 'encouraging', with rate improvements and limited catastrophe loss activity. The group said rate improvements have been achieved for more than 80% of the portfolio during t
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