Thursday broker round-up UPDATE
10th Apr 2014 09:23
AMEC: Canaccord Genuity takes target price from 1350p to 1400p and leaves its buy recommendation unaltered. Atkins (WS): Numis ups target price from 1600p to 1650p, while downgrading from buy to add. Burberry: JP Morgan reduces target price from 1600p to 1400p and keeps a neutral rating. Capita G
Read moreFCA appoints lawyer to conduct insurance leak investigation
9th Apr 2014 08:26
The Financial Conduct Authority (FCA) has appointed an independent lawyer to conduct an investigation into leaked information about a review of the insurance sector. The regulator on Tuesday afternoon said it had appointed a partner at law firm Clifford Chance, Simon Davis, to conduct an inquiry, b
Read moreSunday newspaper round-up: Insurance, Sports Direct, Tesco
6th Apr 2014 08:57
The Financial Conduct Authority ignored Bank of England warnings that it had created a false market in insurance shares for more than five hours, the Sunday Times writes. A newspaper report that the FCA planned a clampdown on insurance policies going back up to 30 years caused shares of Legal & Gene
Read moreThursday newspaper round-up: Sports Direct, Glencore, Prudential
3rd Apr 2014 07:19
Management at Sports Direct is licking its wounds after being forced into a second humiliating climbdown over a proposed reward scheme for its Chief Mike Ashley. Overnight institutional investors revolted against the proposal to hand Ashley shares worth more than 72.5m pounds. As a result the compan
Read moreLondon close: Traders look through slight weakness in data
1st Apr 2014 16:48
- Aberdeen, Babcock, BHP Billiton and GKN provide a lift - Insurers gain as Osborne calls for inquiry into leak - UK PMI falls to eight-month low techMARK 2,783.94 +0.70% FTSE 100 6,652.61 +0.82% FTSE 250 16,407.56 +0.82% Stocks rose sharply on Tuesday as investors chose to look through what at fi
Read moreSunday newspaper round-up: FCA, bank competition, Glaxo
30th Mar 2014 16:53
Big insurance companies want Martin Wheatley, Chief Executive of the Financial Conduct Authority, to resign after the watchdog sent their shares into freefall by making a misleading announcement about an industry probe, the Sunday Times said. The Association of British Insurers is expected to write
Read moreFTSE 100 movers: Insurers and miners at polar ends of index
28th Mar 2014 14:45
Insurance groups were hit by the news the FCA is planning to look into 30m insurance policies sold between the 1970s and 2000 on the back of concerns that they may have contained 'unfair' terms continue to push insurance companies sharply lower. The policies are reportedly worth 150bn pounds. The
Read moreSector movers: Insurance stocks whacked by FCA investigation
28th Mar 2014 14:42
Insurance stocks were reeling on Friday ahead of a Financial Conduct Authority (FCA) investigation into billions of pounds worth of policies dating back four decades on concerns that customers were being exploited. The FCA, which will formally announce the probe on Monday, is focusing on products t
Read moreLegal & General responds to FCA probe reports
28th Mar 2014 13:39
Legal & General Group has responded to reports the UK regulator is set to release details of an investigation into the policies of insurance firms to determine whether they treated customers fairly. The Financial Conduct Authority is expected to announce next week that it will check 30m insurance p
Read moreLondon midday: Markets erase gains as insurance stocks tank
28th Mar 2014 12:02
- Insurers drop sharply on FCA investigation reports - Miners edge higher - Chinese Premier hints at more stimulus techMARK 2,767.34 +0.16% FTSE 100 6,590.41 +0.03% FTSE 250 16,181.96 -0.12% The FTSE 100 was trading more or less flat by Friday lunchtime after erasing earlier gains as heavy losses
Read moreFCA to launch investigation into insurance policies
28th Mar 2014 09:05
The Financial Conduct Authority (FCA) is reportedly set to announce it will check 30m insurance policies worth 150bn pounds over concerns customers were exploited. The regulator will next week say it is looking at pensions, endowments, investment bonds and life insurance policies sold in the UK sol
Read moreLondon open: Miners rise on Chinese stimulus hopes, insurers drop
28th Mar 2014 08:34
- Miners rise on Chinese stimulus hopes - Li Keqiang hints at possible easing - Insurers fall on FCA investigation techMARK 2,779.04 +0.58% FTSE 100 6,621.74 +0.51% FTSE 250 16,239.90 +0.23% UK stocks were making decent gains on Friday morning after a positive session in Asia overnight as comments
Read moreUK government caps pension management charges
27th Mar 2014 14:32
The British government announced plans on Thursday to cap management fees charged by pension providers, sparking a mixed response from the industry. UK pensions minister Steve Webb told the House of Commons that workplace pension schemes that automatically enrol their members will be subject to a 0
Read moreThursday newspaper round-up: House prices, HSBC, Ofgem
27th Mar 2014 07:14
The Head of the Office for Budget Responsibility yesterday warned that given the very rapid house price rises in some parts of Britain one may see "bubbly activity", such as people willing to buy 'off-plan' or when they do not intend to live in the homes which they are purchasing. That comes as the
Read moreFTSE 100 movers: Standard Life rises on Ignis deal
26th Mar 2014 15:24
Standard Life was making decent gains after agreeing on a deal with Phoenix Group to sell the latter's Ignis Asset Management division. Standard Life said the 390m pound acquisition will enhance earnings from the first full year of ownership. RSA is holding near the top of the leaderboard, part of
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