Aviva sells majority stake in Sri Lankan JV
27th Sep 2012 07:44
The reshaping of Aviva under Executive Chairman John McFarlane continues apace, with the insurance titan announcing the sale of its controlling interest in its Sri Lankan joint venture, Aviva NDB Holdings Lanka. American International Assurance, a subsidiary of AIA Group, is buying Aviva's 58.44% i
Read moreSector movers: Broker hails Mondi acquisition
19th Sep 2012 15:56
Mondi, the Anglo-South African paper and packaging firm, leads the Forestry & paper sector higher after broker Jefferies issued a bullish note on the company on Tuesday. The group is acquiring two box plants and a container board mill from Duropack for €120m, prompting Jefferies to lift its earning
Read moreFTSE 100 movers: United Utilities rises on takeover speculation
19th Sep 2012 15:43
United Utilities rose into the top spot on the back of renewed speculation over a potential takeover. While one might be justified in being wary of simple speculation and rumours on this ocassion they were given credence by analysts at Bank of America-Merrill Lynch no less. This follows talk to a si
Read moreAviva Investors looks for exit from Global REIT business
19th Sep 2012 10:27
It seems Aviva Investors, the asset management arm of the insurance giant Aviva, is likely to close its global Real Estate Investment Trust (REIT) business. The company has sent clients a letter saying the business is under review because its scale prevents it from competing on the international le
Read moreLondon close: Late rally fizzles
18th Sep 2012 16:50
A late rally which briefly looked like it might see Footsie venture into positive territory for the first time all day was nipped in the bud right at the death. Equities had a dull but fretful day, which started with concerns over China becoming involved in a trade war with the US and a military wa
Read moreFTSE 100 movers: Aviva falls on downgrade
18th Sep 2012 14:39
Broker downgrades put insurance titan Aviva on the skids, pushing the stock's dividend yield beyond seven per cent; BofA Merrill Lynch has downgraded Aviva to 'underperform', although the target price has been raised to 360p from 330p, while Deutsche bank has moved to a 'hold' recommendation and edg
Read moreLondon midday: Stocks pare losses after in-line macro data
18th Sep 2012 12:06
Inflation data was in line with forecasts while the Spanish debt auction went as well as could be expected, prompting London equities to claw back some of the losses seen in early trading The Consumer Prices Index (CPI) measure of inflation dropped to 2.5% in August, down from 2.6% in July, helped
Read moreLondon open: Stocks retreat ahead of inflation update
18th Sep 2012 08:54
London has opened lower ahead of this morning's inflation figures, with tensions in China putting investors in a cautious frame of mind. There are signs that US President Barack Obama may be keen to pick a fight with China over US jobs. Obama launched action at the World Trade Organisation (WTO) to
Read moreLondon pre-open: Stocks to slide as Chinese tensions rise
18th Sep 2012 07:13
London is set to follow Wall Street lower at the outset, with sentiment likely to be dampened by geopolitical concerns. There are signs that US President Barack Obama may be keen to pick a fight with China over US jobs. Obama launched action at the World Trade Organisation (WTO) to stop Chinese aut
Read moreLondon close: Stocks extend gains as QE3 hopes increase
7th Sep 2012 16:48
- Markets buoyed by ECB's plans - QE3 hopes increase as jobs data disappoints - Xstrata and the miners jump, though Glencore bucks the trend In spite of some massive gains the day before, the FTSE 100 and most other stock markets in Europe finished moderately higher on Friday on hopes that central
Read moreBroker tips: Life insurers, ASOS, May Gurney
7th Sep 2012 12:23
Credit Suisse has downgraded its rating for Legal & General as part of its review of the UK life insurance sector. Among the growth-oriented insurers with higher price-to-earnings multiples, the broker said it prefers Prudential ('outperform') and St James's Place ('neutral') over Standard Life ('u
Read moreLondon midday: Stocks add to gains on Eurozone hopes
7th Sep 2012 11:38
- FTSE 100 extends rally after ECB news - Eyes on US data later today - Glencore adjourns shareholder meeting, amends merger terms The Footsie was well off its intraday high of 5,807 by Friday lunchtime, but still trading slightly higher following the massive gains made yesterday as the European Ce
Read moreBroker snap: Credit Suisse downgrades Legal and General
7th Sep 2012 10:21
Credit Suisse has downgraded its rating for Legal & General as part of its review of the UK life insurance sector. For the sector as a whole, first-half results met or beat consensus forecasts across most key metrics, the broker said on Friday morning. Credit Suisse said: "Top-line growth softene
Read moreFriday broker round-up
7th Sep 2012 09:03
ASOS: Jefferies keeps buy rating and 2,199p target. AstraZeneca: Morgan Stanley upgrades to equal weight. Aviva: AlphaValue downgrades to add, target lifted from 385p to 389p. Barclays: Deutsche Bank upgrades to buy. Dixons: Nomura keeps neutral rating and 20p target. Legal & General: Credit Su
Read moreAviva says up to 800 UK jobs at risk
24th Aug 2012 10:27
Up to 800 jobs are on the line at Aviva as the insurance giant restructures in an attempt to save 400m pounds. The group, which sent an internal e-mail around to its UK life insurance workforce on Thursday, said that around 70% would still keep their jobs, while the remaining 30% could be at risk.
Read more