Legal & General in talks to sell French insurance unit to APICIL
31st Jul 2015 09:47
(ShareCast News) - Legal & General has entered into exclusive talks to sell its French insurance unit to APICIL for an undisclosed sum. L&G's chief financial officer, Mark Gregory, said: "We have an increasingly focused strategy and our French business is no longer a core operation for us. Legal & G
Read moreLegal & General sells Egyptian joint venture to AXA
13th Jul 2015 10:15
(ShareCast News) - Legal & General and Commercial International Bank ASE (CIB) jointly announced the sale of Commercial Life Insurance Company (CIL) to AXA for $97.5m. Legal & General owns 55% of CIL, while owns 45%. Egypt-based CIL has 90,000 individual insurance policies and provides retirement b
Read moreGoldman Sachs expects rethink on bank levy in UK Budget
7th Jul 2015 12:43
Ahead of Chancellor George Osborne's Budget on Wednesday, here's a round-up of what Goldman Sachs expects. For UK banks, attention will be focused on any potential reform of the bank levy, as Osborne did not discuss it in his Mansion House speech in June, despite prior speculation. Goldman does not
Read moreLondon close: Stocks creep higher but risk appetite limited ahead of elections
6th May 2015 16:32
UK stocks finished a choppy session marginally in positive territory on Wednesday as investor risk appetite was curbed by pre-election uncertainty and cautious comments from Federal Reserve chair Janet Yellen. The FTSE 100 closed up 6.16 points (+0.09%) at 6,933.74, rebounding slightly after settlin
Read moreLondon midday: Stocks pare gains as election uncertainty kicks in
6th May 2015 11:30
UK stocks bounced off a one-month low on Wednesday though gains were quickly trimmed as mining stocks dropped into the red and Sainsbury's extended losses after an underwhelming annual report. The FTSE 100 was up just 0.11% at 6,935.50 by midday, having pulled back after reaching a high of 6,974.82
Read moreLondon open: FTSE bounces as corporate earnings impress
6th May 2015 08:27
UK stocks bounced on Wednesday morning as investors picked up bargains after the FTSE 100 dropped to a one-month low the previous session. Blue chips Imperial Tobacco, Legal & General and GKN were leading the rise after impressing investors with results, while Vodafone was boosted by a broker upgrad
Read moreLegal & General first quarter net cash generation rises 8%
6th May 2015 07:46
Legal & General reported an 8% increase in first-quarter net cash generation to £326m, with operational cash generation up 11% at £330m. The company posted a 19% rise in annuity sales for the quarter and said it was on track to deliver £80m of operating cost savings across the group in 2015. The va
Read moreFTSE 100 movers: Anglo American, utility stocks surge
23rd Apr 2015 13:30
Anglo American, owner of jeweler De Beers, surged on Thursday as the mining giant cut its forecast for annual diamond production in order to avoid overproduction in the weaker diamond market. United Utilities, SSE and Centrica was making gains as investors sought refuge in defensive utility stocks.
Read moreTuesday broker round-up
24th Mar 2015 14:42
Legal&General: Canaccord Genuity reiterates hold and raises target to 290p from 240p. Standard Chartered: JP Morgan Cazenove reiterates overweight and lifts target to 1,250p from 1,050p. Vesuvius: Credit Suisse reiterates underperform and hikes target 460p from 405p. Marks&Spencer: Investec reit
Read moreTuesday broker round-up
17th Mar 2015 11:20
Aviva: Credit Suisse reiterates outperform and 610p target price. Legal&General: JP Morgan Cazenove ups target to 220p from 212p and reiterates underweight. Glencore: Investec reiterates buy and takes target to 328p from 306p. John Wood Group: Canaccord Genuity reiterates hold and lowers target to
Read moreTuesday broker round-up
10th Mar 2015 11:53
Pearson: Barclays reiterates equal-weight recommendation and keeps target at 1,405p. UBM: Westhouse Securities takes target to 599p from 552p but reiterates add. ARM Holdings: Citi keeps at buy with a 1,35p target price. Kaz Minerals: Jefferies shaves target to 250p from 275p and reiterates hold.
Read moreSector movers: Results from Aviva and Friends Life spark surge among life insurers
5th Mar 2015 14:18
Insurers Aviva and Friends Life Group (FLG) each jumped over 7% on Thursday as investors celebrated the companies' 2014 results ahead of the proposed merger, giving the life insurance sector a big boost in London. The impressive figures also helped to allay fears across the wider sector, showing tha
Read moreThursday tips round-up: Dignity, Legal & General
5th Mar 2015 12:47
There are few things in life as certain as death, which gives funeral parlour operator Dignity exceptional visibility. So while the number of funerals dropped by 3.5% last year, the company is now set to benefit from the 23% rise in deaths registered over the first eight weeks of this year. In 2014
Read moreLondon close: Stocks erase losses as ITV, StanChart and IAG gain
4th Mar 2015 16:41
After a weak start, UK markets managed to push into positive territory by Wednesday's close as decent gains from ITV, Standard Chartered and IAG offset some heavy falls in the mining sector. The FTSE 100 snapped three days of losses to finish up 0.44% at 6,919.24. Economic data from across the glob
Read moreFTSE 100 movers: ITV soars after beating 2014 forecasts, Fresnillo plunge on weak profits
4th Mar 2015 15:11
ITV topped the risers after the strongest advertising performance in five years helped it beat forecasts for 2014, as it hiked its annual dividend 34% and proposed an extra payout for shareholders. Numis Securities upped its rating on the broadcaster and producer from 'add' to 'buy'. Emerging market
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