Aviva shifts eastern Europe businesses
1st Aug 2012 08:03
Insurance giant Aviva said it had completed the sale of its Czech, Hungarian and Romanian business to US life assurance firm MetLife. The firm added that the sale of its Romanian Pensions business was expected to go through later this year subject to regulatory approval. "This transaction is cons
Read moreFTSE 100 movers: Miners and financials lead the way
30th Jul 2012 14:23
The banking and resources sectors were among the best performers on Monday as risk appetite increased on the back of stimulus hopes. Barclays, RBS, ENRC and Xstrata were high risers by mid-afternoon. Global banking group HSBC was along among them after seeing an 11% rise in reported pre-tax profit
Read moreAiling Aviva looks to US sale
30th Jul 2012 11:43
Ailing insurance giant, Aviva, looks to be teeing up its US division for a 1bn sterling sale. The Sunday Telegraph has reported the group's Chief Financial Officer, Patrick Regan, has been holed up in the US HQ in Iowa, getting the unit ready for a disposal. It's part of a strategy to flog aroun
Read moreLondon open: Central bank hopes drive gains early on
30th Jul 2012 08:26
- Leaders have 'no time to lose', says Juncker - Markets await ECB decision on Thursday - QE3 hopes drive gains UK stocks rose in early trading on Monday on the back of hopes that the European Central Bank (ECB) will act this week to stem the Eurozone crisis. Eurogroup head Jean-Claude Juncker sai
Read moreSunday newspaper round-up: BoE, RBS, Weir
29th Jul 2012 17:57
The British Chambers of Commerce and the Ernst & Young Item Club, the only forecasters to use the Treasury's economic model, have both urged the Bank of England to take bold action to boost growth at Wednesday's meeting of the Monetary Policy Committee [MPC]. The economy has shrunk for three success
Read moreFTSE 100 movers: Slow-burning Croda catches fire
24th Jul 2012 15:40
It took a while for the market to fully digest the results from speciality chemicals producer Croda International, but once it did the shares raced ahead. Strong demand for the group's products in the USA offset weaker trading conditions in Europe, while a change in the product mix sold led to an i
Read moreLondon close: Footsie drops two per cent on Eurozone fears
23rd Jul 2012 17:17
- Footsie near one-month low - Spanish regions ask for aid; bond yields surge - Evraz leads the Footsie lower Indices across Europe and the US tanked on Monday, with the FTSE 100 finishing near a one-month low, as Eurozone debt concerns spread fear across equity markets. The Footsie dropped 2.09%
Read moreFTSE 100 movers: Financials and miners dive on Eurozone worries
23rd Jul 2012 14:54
Financial peers Aviva, RBS and Schroders, and mining stocks Evraz, Vedanta, Kazakhmys, ENRC and Anglo American were heavy fallers as investors fled for 'safer' assets on the back of concerns about Spain's financial health and renewed speculation about a Greek exit from the Eurozone. Fund manager A
Read moreLondon midday: Footsie drops nearly 100 points on euro fears
23rd Jul 2012 11:42
- Spanish and Greek concerns weigh on stocks - Spanish yields continue to soar - Chinese policy-maker warns of slowing growth Concerns about Spain's financial health and renewed speculation about a Greek exit from the Eurozone sank European markets on Monday morning, prompting US stock futures to t
Read moreBroker tips: Vodafone, GKN, Aviva
20th Jul 2012 12:54
Jefferies has maintained its 'hold' rating for telecoms group Vodafone saying that the highlight of the first-quarter statement is the uptick in competitive pressures across several markets. "We see downside risk to consensus controlled free cash flow forecasts at three levels (lower revenues, less
Read moreBroker snap: US sale could boost Aviva's economic capital, says Panmure
20th Jul 2012 12:09
Panmure Gordon has reiterated its 'buy' rating and 425p target price for insurance giant Aviva, saying that is its US operation is sold, it would result in a massive increase in economic capital. The broker highlights that, as Aviva admits, the group's capital position is relatively weak compared t
Read moreLondon close: Footsie flat ahead of FOMC minutes, Glencore up
11th Jul 2012 17:06
- Investors await FOMC minutes - BarCap cuts US growth estimates - Burberry disappoints; 'Glenstrata' in demand - Some say Glencore could benefit from rising grain prices The Footsie had pared early losses to trade broadly flat by the close as markets remained cautious ahead of the release of minu
Read moreFTSE 100 movers: Burberry sinks after sales growth slows
11th Jul 2012 15:03
Luxury brand Burberry sank into the bottom spot after underlying sales growth slowed down from 15% in the fourth quarter to 11% in the first quarter. Analysts were expecting a 13% increase. Both Nomura and Bank of America Merrill Lynch cut their target prices for the stock today. Precious metals m
Read moreLondon midday: Footsie pares losses but still in the red
11th Jul 2012 11:33
- Burberry leads stocks lower after Q1 update - Johnson Matthey, Lloyds, Centrica, SSE fall after broker downgrades - FOMC minutes due out later The FTSE 100 had pared some of its earlier losses but was still trading firmly in the red by Wednesday lunchtime with a disappointing trading update from
Read moreWednesday broker round-up
11th Jul 2012 08:10
ASOS: HSBC downgrades to neutral, target lifted from 1,780p to 1,950p. Avanti Communications: Jefferies reiterates buy rating and 600p target. Aviva: Morgan Stanley upgrades to overweight. Balfour Beatty: UBS downgrades to neutral, target cut from 340p to 310p. BTG: Jefferies downgrades from buy
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