Direct Line rallies on Morgan Stanley upgrade
24th Nov 2016 08:44
(ShareCast News) - Direct Line got a boost on Thursday as Morgan Stanley upgraded the stock to 'overweight' from 'equalweight' and lifted the price target to 465p from 414p. The bank said the company's shift towards more own brands business and away from partnership business should lead to higher re
Read moreDirect Line costs rise after Flood Re charges
8th Nov 2016 07:06
(ShareCast News) - Direct Line Group posted a trading update for the nine months to 30 September on Tuesday, with gross written premium for ongoing operations 4.2% higher,and the company claiming continued growth in Motor own brands, up 9.7%. The FTSE 100 firm said motor and home own brands in-force
Read moreRBC Capital downgrades Esure after GoCompare demerger
3rd Nov 2016 12:35
(ShareCast News) - Esure shares tumbled on Thursday following the completion of the demerger of price comparison website GoCompare.com. RBC Capital Markets downgraded its stance on the stock to 'underperform' from 'outperform' and slashed the price target to 180p from 305p as it removed GoCompare ea
Read moreSector movers: Grocers and non-life insurers lead gains
15th Sep 2016 14:11
(ShareCast News) - Grocers and non-life insurance paced advances, with Morrisons buoying the former after posting what analysts described as an "encouraging" set of interims. Wm Morrison saw like-for-like sales excluding fuel and VAT increase by 1.4% during the first six months of the year, driving
Read moreHSBC upgrades RSA, downgrades Hastings
8th Sep 2016 09:57
(ShareCast News) - HSBC upgraded RSA Insurance to 'buy' from 'hold' and raised the price target to 595p from 520p despite the strong share price performance. The bank noted RSA shares are up 19% year-to-date, outperforming the FTSE 100 index and the DJ Stoxx Insurance index by 9% and 36%, respective
Read moreFTSE 100 movers: Miners dive as banks, insurers progress
31st Aug 2016 16:25
(ShareCast News) - Mining stocks were headed lower in an overall negative session on the FTSE 100, with gold and three-month industrial metals prices southbound as silver and copper eased ahead. Anglo American faded, having on Tuesday completed the sale of its Foxleigh mine interest, while both f
Read moreThursday broker round-up
4th Aug 2016 11:59
(ShareCast News) - Next: Goldman Sachs reiterates sell with a target price of 4800p. Standard Chartered: JP Morgan maintains overweight with a 800p target. Shire: JP Morgan reiterates overweight with a 6300p target. Genus: HSBC stays at buy with a 2200p target. Nichols: UBS keeps at buy with a ta
Read moreBroker tips: Johnston Press, Direct Line, Hikma Pharmaceuticals
4th Aug 2016 11:01
(ShareCast News) - Johnston Press shares plunged on Thursday as Numis placed its rating and target price 'under review' after the company swung to a first half loss. For the 26 weeks to 2 July, the company posted a statutory pre-tax loss of £183.7m versus a £2.2m profit the year before, as it booked
Read moreBerenberg cuts Direct Line to 'hold' from 'buy'
4th Aug 2016 09:35
(ShareCast News) - Direct Line Insurance Group's rating has been downgraded to 'hold' from 'buy' by Berenberg as the broker said "questions remain about earnings sustainability". "We believe there is some risk regarding the sustainability of Direct Line's earnings," Berenberg said in a note on Wedne
Read moreWednesday round-up
3rd Aug 2016 12:13
(ShareCast News) - Laird: UBS upgrades to buy with a target price of 350p. Direct Line Group: Deutsche Bank maintains buy with a 435p target. Associated British Foods: Exane BNP Paribas reiterates outperform with a 3300p target. Sky: Goldman Sachs reiterates buy with a target price of 1029p. Fres
Read moreOperating profit down, but Direct Line remains confident
2nd Aug 2016 07:10
(ShareCast News) - Insurance company Direct Line Group posted its half year report for the six months to 30 June on Tuesday, with gross written premiums for ongoing operations 3.9% higher, driven by strong growth in motor in-force policies - up 2.5% - and a 9.5% increase in premium rates. The FTSE 1
Read moreLondon open: Housebuilders lead FTSE higher on Brexit confidence
22nd Jun 2016 08:41
(ShareCast News) - London stocks inched up on Wednesday morning as polls showed the EU referendum remained too close to call, though rallying housebuilding and financials stocks indicated investors were confident a Brexit will be avoided. The FTSE 100 was 0.09% higher at 6,232.19 just before 0900 BS
Read moreCommercial insurers face more claims, slimmer margins from August - Fitch
14th Jun 2016 09:34
(ShareCast News) - Insurers are likely to face more more claims, more intense price competition and slimmer margins, Fitch Ratings said, due to changes to UK laws on disputing commercial insurance claims and timing of payments due to come into force in August and next year. Coming into force on 12 A
Read moreDirect Line said solvency model approved by PRA
14th Jun 2016 07:10
(ShareCast News) - Direct Line Insurance Group said it had received approval from the Prudential Regulation Authority to use its partial internal model (PIM) to calculate the solvency capital requirement under EU solvency rules. "In line with management's previous expectations, this approach will en
Read moreLondon pre-open: Stocks seen a little lower amid growth, Brexit concerns
14th Jun 2016 07:01
(ShareCast News) - London stocks were seen opening a little lower on Tuesday amid ongoing concerns about global growth and the possibility the UK might vote to leave the EU in next week's referendum. Investors were also likely to be cautious ahead of rate announcements from the FOMC and the Bank of
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