London close: Retailers and banks pull London to dull finish
30th Mar 2011 17:38
Footsie came off its highs for the day, as retailers and banks did their best to drag the market lower. Nevertheless, the blue chip index finished 16 higher at 5,948. Invensys was sharply lower after RBC Capital Markets initiated coverage of the engineer with an "underperform" rating. That was the
Read moreLondon afternoon: Invensys bid fever fades
30th Mar 2011 14:39
Stocks came off the top over the lunch time session, though risers still comfortably outnumber fallers among Footsie constituents by at least two to one. Miners are setting the pace, particularly Vedanta, BHP Billiton, Rio Tinto and Antofagasta. At the other end of the scale Invensys is sharply lo
Read moreJapan quake could cost Hiscox $150m
30th Mar 2011 07:46
The earthquake in New Zealand and the floods in Australia earlier this year should result in total claims of about $75m (£46.9m), while the Japan earthquake could result in losses of as much as $150m, the specialist insurer Hiscox has said. "Based on an insured market loss of US$10 billion for the
Read moreFTSE 250 movers: Insurers mixed on quake impact
14th Mar 2011 14:07
Insurers Hiscox and Amlin were revealed to be broker Daniel Stewart's preferences within Lloyd's-based insurance stocks. Amlin is making gains, while Hiscox is heading the other way. Sector peer Catlin is also suffering a loss. The broker said that while the scale of the Japanese earthquake is inde
Read moreBroker tips: Carnival, Wetherspoon, reinsurers
14th Mar 2011 12:57
Although Nomura has reduced its target price for Carnival - after the cruise operator lowered its guidance as a result of rising fuel costs - the broker stays with a 'buy' rating. The first quarter results came in at the top end of the guidance range, but the group downgraded its full year earnings
Read moreBroker snap: Quake impact less than expected for insurers
14th Mar 2011 12:22
The scale of the Japanese earthquake is indeed huge, but in terms of an insured loss it appears, at first sight, to be on a more limited scale than might have been expected, according to broker Daniel Stewart. "Given that traditionally the two biggest natural disasters that the insurance has modell
Read moreMonday newspaper round-up: Japan, Bahrain, Tullett Prebon...
14th Mar 2011 06:33
An explosion rocked Japan's earthquake-damaged Fukushima Daiichi nuclear plant on Monday, escalating the emergency at the 40-year-old facility north of Tokyo. The blast, captured by television cameras, appeared to have occurred at the plant's No. 3 reactor building, where combustible hydrogen had b
Read moreLondon close: FTSE 100 rally falls short
28th Feb 2011 16:51
The top share index failed to sustain a rally that came on the back of strength in the US and closed a few points lower. A slight easing in the oil price lightened the mood. Crude had edged up in the morning session amid continuing turmoil in Libya and the spread of protests to the Gulf state of Om
Read moreLondon afternoon: Footsie waxes as oil price wanes
28th Feb 2011 14:29
Shares staged a recovery over lunch, boosted by indications of a firmer start on Wall Street and a weakening of the oil price. Oil prices had edged up in the morning session amid continuing turmoil in Libya and the spread of protests to the Gulf state of Oman. Brent crude for April delivery was abo
Read moreFTSE 250 movers: Hiscox among the high risers
28th Feb 2011 14:13
Shareholders at Bermuda-based specialist insurer Hiscox are pleased after the group increased its annual dividend by 10%. Gross written premiums were little changed at £1,433m in 2010 from £1,435m in 2009, while profit before tax fell to £211.4m from £320.6m the year before. Recruitment firm Hays i
Read moreHiscox weathering the storms
28th Feb 2011 12:57
Bermuda-based specialist insurer Hiscox paid out £165m in claims relating to catastrophes last year, but signalled its confidence in the future with a 10% hike in the dividend. Gross written premiums were little changed at £1,433m in 2010 from £1,435m in 2009, while profit before tax fell to £211.4
Read moreFTSE 250 movers: Renishaw up. Heritage down
26th Jan 2011 15:42
Renishaw surged by almost a fifth on Wednesday after the precision engineer posted a sharp rise in half year pre-tax profit and upped its dividend following a surge in demand from Asia and metrology products. Pre-tax profit surged to £35.5m in the six months ended 31 December 2010 from £7.1m the sa
Read moreHiscox puts cost of winter freeze at £16m
26th Jan 2011 08:06
Bermuda-based specialist insurer Hiscox estimates net claims linked to Britain's coldest winter on record will hit £16m. Despite this, the firm's UK household business is on track to make a "healthy profit" and claims for the Chilean earthquake and Windstorm Xynthia have actually been revised down.
Read moreTikit chairman trebles stake
30th Nov 2010 16:34
Mike McGoun, the non-executive chairman of IT services provider Tikit has invested £1.1m in the company. Tikit supplies software and services to legal and accountancy firms. McGoun has been its chairman since 1997. He has bought 497,833 shares at 221p each. That gives him 5% of Tikit. He appears
Read moreTuesday tips round-up: Inmarsat, Bovis, Hiscox...
9th Nov 2010 06:40
Yesterday's third-quarter results from satellite group Inmarsat showed better than expected earnings as growth in aeronautical services, and an uptick in maritime services, boosting the bottom line. At 22 times forward earnings, Inmarsat's valuation has eased a little and the growth potential meri
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