Direct Line on track as motor premiums stabilise
31st Oct 2014 07:44
Direct Line said it remains on track to hit its full-year targets despite "highly competitive" markets, with pricing in the motor insurance market continuing to stabilise in the third quarter. Group gross written premiums totalled £928m in the three months to 30 September, down 5.1% on the third qua
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreLondon close: Markets up on positive company news
22nd Oct 2014 17:04
The London market closed in positive territory for the second time this week as traders weary of negative economic news took heart from upbeat corporate results. The FTSE 100 Index ended the session 27.4 points ahead at 6399.73 as drug group GlaxoSmithKline pleased investors with news of higher earn
Read moreFTSE 100 movers: GlaxoSmithKline leads risers after pleasing with Q3 results
22nd Oct 2014 16:05
Drug giant Glaxosmithkline (GSK) rose after the pharmaceutical giant said core operating profit fell by just 6% to £1.89bn, compared with the £1.71bn forecast. Figures out from AA Insurance lifted shares in car insurers on Wednesday, with Direct Line and Admiral both parking themselves in the top 10
Read moreCar insurers lead market gains after AA data on premiums
22nd Oct 2014 15:52
British car insurers were the best of the lot in the London market after motoring group AA reported that Shoparound premiums - an aggregation of the five cheapest premiums available - rose by 1.2% in the latest quarter to reach £531. That was the first increase since early 2012, although they were s
Read moreThursday broker round-up UPDATE
9th Oct 2014 09:27
African Barrick Gold: Numis reduces target price from 330p to 270p keeping its hold recommendation. Antofagasta: Numis upgrades to hold with a target price of 700p. Aureus Mining: Numis lowers target price from 45p to 40p staying with its buy recommendation. Boohoo: Barclays initiates with a targe
Read moreFriday tips round-up: Sports Direct, Direct Line
26th Sep 2014 11:59
Sports Direct's decision to sell 'put' options on 23m shares of Tesco to Goldman Sachs is tantamount to a bet that the grocer's shares will not fall further. Fortunately, the strike price for those derivatives seems to lie close to Tesco's current share price, as the firm said that its total exposur
Read moreFriday broker round-up UPDATE
26th Sep 2014 08:38
Balfour Beatty: Deutsche Bank ups target price from 245p to 270p upgrading to buy. Betfair: JP Morgan raises target price from 1050p to 1175p leaving its neutral rating unchanged. British Land: Societe Generale upgrades to buy with a target price of 780p. Dairy Crest: Investec cuts target price fr
Read moreLondon midday: Dollar strength weighs on commodities, Footsie
25th Sep 2014 12:36
UK stocks were holding slightly lower come midday and lagging the rest of European benchmarks as the dollar continued to strengthen, pressuring commodity prices lower across the board. The US dollar index is trading at a four-year high, just as commodities such as wheat plumb four-year lows. Three-m
Read moreLondon open: Tesco still in the news, as euro continues to slip
25th Sep 2014 09:29
UK stocks have begun the session with the slightest of gains, with investors focusing on remarks by European Central Bank President Mario Draghi, to a Lithuanian publication, to the effect that the ECB could implement additional easing measures. That comes as the euro/dollar slips below the 1.28 dol
Read moreLondon pre-open: FTSE to open marginally higher after US data, Fed speech
25th Sep 2014 07:42
UK stocks are expected to start Thursday's session with modest gains, thanks to a dovish speech from a Fed member and strong US housing data released the previous day. City sources predict the FTSE 100 will open around three points higher than Wednesday's close of 6,706.27. The anticipated rise com
Read moreDirect Line sells international division for £430.5m
25th Sep 2014 07:22
Insurance provider Direct Line has announced it has reached an agreement to sell its international division to Spain's Mapfre for €550m (£430.5m). Direct Line's international division focuses exclusively on the German and Italian markets, selling motor insurance in the two largest motor vehicle mark
Read moreTuesday broker round-up UPDATE
23rd Sep 2014 09:36
AVEVA: JP Morgan reduces target price from 2450p to 1825p, while leaving its overweight rating unchanged. African Minerals: Credit Suisse reduces target price from 120p to 25p, while leaving its neutral rating unchanged. Aviva: Goldman Sachs ups target price from 490p to 515p and reiterates a neutr
Read moreBroker tips: Smith & Nephew, Centamin, Balfour Beatty, UK motor insurers
15th Aug 2014 12:14
Shares in Smith & Nephew were under pressure on Friday after analysts at Morgan Stanley downgraded the medical devices maker from 'overweight' to 'equal weight' following a recent strong run in the stock. The bank said that even if US peer Stryker returns with a bid in November, the deal "remains
Read moreBerenberg upgrades Esure but expects "challenging period" for UK motor insurers
15th Aug 2014 10:52
Berenberg has lifted its target prices for Admiral, Direct Line and Esure but reckons that the UK motor insurance market is "about to enter a very challenging period". "We expect recent declines in pricing to squeeze underwriting margins as claims costs continue to grow, while regulatory change pre
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