London 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
Read moreLondon midday: Insurance stocks push markets higher, but banks fall
26th Mar 2014 11:42
- FTSE 100 at highest since March 11th - Insurers provide a lift, Standard Life and Phoenix in focus - Lloyds drops after government sale, RBS downgraded - ECB, PBoC stimulus hopes and US data drive gains techMARK 2,787.86 +0.51% FTSE 100 6,630.79 +0.39% FTSE 250 16,273.83 +0.75% UK stocks were at
Read moreLondon pre-open: Modest start predicted for FTSE
26th Mar 2014 07:24
UK stocks are set to slide slightly higher this morning, tracking gains seen in the US overnight and following a number of significant company news releases early on. City sources predict the FTSE 100 will open six points higher than yesterday's close of 6,604.89. A larger-than-expected rise in c
Read moreLegal & General wins 3bn-pound bulk annuity deal
26th Mar 2014 07:06
Financial services firm Legal & General has won a bulk annuity arrangement with the ICI Pension Fund covering 3bn pounds of its liabilities, the largest ever bulk annuity policy arranged by a pension scheme in the UK. It is thought that bulk annuities, which accounted for 70% of the company's own a
Read moreFTSE 100 movers: Lloyds climbs on rating upgrade
24th Mar 2014 15:48
Investec has upgraded its rating for Lloyds Banking Group from 'hold' to 'buy', telling investors that "it is safe to go back in the water", prompting a strong rise in the share price. "After a 10% 10-week pull-back, we again see reasonable value for a low-risk stock. Upgrade to 'buy'," the broker
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