Monday broker round-up UPDATE
3rd Jun 2013 07:22
Anglo Pacific Group: Finncap cuts target price from 320p to 279p staying with its buy recommendation. Ashtead Group: Citi takes target price from 660p to 750p and maintains a buy recommendation. Centrica: Berenberg ups target price from 370p to 380p keeping a hold recommendation. Coal of Afica: I
Read moreLegal & General completes acquisition of Cofunds platform
23rd May 2013 07:40
Legal & General Group has completed the acquisition of Cofunds by purchasing the remaining 75 per cent of its share capital, according to an update issued by the group on Thursday. The acquisition valued Cofunds at £175m and Legal & General said that it had paid a cash consideration of £131m. Th
Read moreLondon close: Stocks gain after ECB rate cut, US data
2nd May 2013 16:32
After a subdued start, the FTSE 100 ended Thursday's session in a volatile fashion as traders digested an underwhelming interest-rate cut from the European Central Bank (ECB), comments from Mario Draghi and better-than-expected economic data from the States. The ECB did what was expected at midday
Read moreLondon midday: Markets subdued as eyes turn to ECB
2nd May 2013 11:18
Markets were trading within a narrow range on Thursday as traders refrained from taking risk ahead of a potential rate cut from the European Central Bank (ECB) this afternoon. The consensus forecast is for a 25 basis-point cut in the ECB's key lending rate (the 'refi' rate) from 0.75% to 0.5%, give
Read moreBroker tips: Lloyds, Legal & General, Sainsbury
2nd May 2013 11:15
Investec has downgraded its recommendation for Lloyds Banking Group from 'hold' to 'sell' and left its target price at 50p following the bank's first-quarter results this week. Analyst Ian Gordon said that after an exceptionals-enhanced attributable profit of £1.5bn in the first three months of the
Read moreBroker snap: Legal & General undervalued, says Panmure Gordon
2nd May 2013 11:12
Financial services group Legal & General is currently undervalued on all valuation metrics, according to Panmure Gordon which kept its 'buy' rating for the stock following a strong first-quarter result. Panmure left its target price at 205p, having recently increased it from 190p. While the stock
Read moreLondon open: Markets cautious ahead of ECB decision
2nd May 2013 08:57
The FTSE 100 was in the red in early trading on Thursday as nerves set in ahead of the all-important European Central Bank (ECB) policy decision later on. "The day of reckoning has arrived, with the market largely priced for a 25 basis-point (bp) cut in the ECB's main refinancing rate to 0.50%. The
Read moreLegal & General breaks records with first-quarter results
2nd May 2013 08:09
Financial services group Legal & General (L&G) hailed record assets, sales and cash generation in the first quarter of 2013 as its UK and US businesses exceeded management's expectations. Strong flows and "positive" equity markets drove L&G Investment Management's (LGIM) assets under management up
Read moreLondon midday: Footsie flat after recent strong run
29th Apr 2013 12:01
The FTSE 100 had pared gains by Monday lunchtime, pausing for breath after a strong surge last week on anticipation of a potential rate cut from the European Central Bank (ECB) in a few days' time. Recent disappointing economic figures from the Eurozone have sparked hopes that the ECB will move to
Read moreLondon open: Stocks rise as Italy forms coalition government
29th Apr 2013 08:20
UK stock markets opened with decent gains on Monday morning after the weekend saw Italy form a new government, removing some of the political uncertainty that has dampened sentiment over the last few months. The formation brings together Prime Minister-designate Enrico Letta's Democratic Party and
Read moreMonday broker round-up UPDATE
29th Apr 2013 08:17
Afren: Liberum Capital shifts target price from 130p to 136p and maintains a hold recommendation. AngloAmerican: Nomura upgrades from reduce to neutral with a target price of 1700p. Antofagasta: Nomura cuts target price from 1250p to 1200p, while its neutral rating remains unchanged. Investec redu
Read moreLegal & General signs first annuity deal outside UK
29th Apr 2013 08:11
Legal & General has signed a deal to reinsure 136m euros of New Ireland Assurance's existing and future annuity business. The insurance and investment company said the agreement with New Ireland was its first annuity transaction outside the UK, allowing it to expand its reach to new markets. The r
Read moreFTSE 100 movers: Standard Life soars after beating analyst expectations
24th Apr 2013 15:09
Insurance giant Standard Life was a strong riser after beating analysts' predictions in the first quarter after delivering strong sales and group assets under administration. The group recorded a 24% increase in long-term savings sales to £6.3bn and a 26% increase in long-term savings net flows to
Read moreLondon midday: Stocks flat as ECB rate cut speculation ramps up
24th Apr 2013 11:49
Stocks had trimmed gains and were trading broadly flat by Wednesday lunchtime as markets gave a mixed reaction to weak economic data from Germany with traders guessing at whether the figures will prompt the European Central Bank (ECB) to cut interest rates. However, the cautious mood on market this
Read moreMonday broker round-up UPDATE
22nd Apr 2013 07:20
Admiral Group: Deutsche Bank takes target price from 1140p to 1300p retaining a hold recommendation. African Barrick Gold: Deutsche Bank ups target price from 173p to 180p staying with its hold recommendation. Albemarle & Bond: Canaccord Genuity reduces target price from 280p to 146p and downgrade
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