Change at the top as Legal and General appoints new CEO
10th May 2012 07:07
Risk, savings and investment management provider Legal and General has appointed its Chief Financial Officer (CFO) Nigel Wilson as its new Chief Executive Officer (CEO), replacing Tim Breedon when he steps down from the board next month.. Wilson joined the firm back in September 2009 and his appoin
Read moreMorgan Crucible CEO buys up 'cheap' stock
9th May 2012 15:53
Mark Robertshaw, the Chief Executive Officer of Morgan Crucible purchased 35,000 shares in the the FTSE 250 industrial materials group on the same day stock broker Jefferies hailed the stock as cheap, compared to its sector peers. Robertshaw purchased the shares at 290.00p for a total of £101,500,
Read moreLondon close: Gains pared after comments from ECB's Draghi
3rd May 2012 16:37
- Stocks pare gains after Draghi offers no hints - US economic data comes in mixed - Mining and oil stocks weigh on Footsie After a decent start, gains for London's FTSE 100 were pared late on after a European Central Bank (ECB) press conference failed to boost confidence, meaning that the index fi
Read moreFTSE 100 movers: Smith and Nephew beat expectations
3rd May 2012 14:36
Shares in technology group Smith and Nephew marched ahead after profits and margins at medical beat both analysts' and management forecasts in the first quarter of 2012. Alcoholic drinks maker Diageo's was also on the up following its announcement that growth in the third quarter of its fiscal yea
Read moreLondon midday: Investors eye ECB decision as stocks edge higher
3rd May 2012 12:08
- Investors await ECB decision - Successful bond auctions in France, Spain - Mixed reception to barrage of corporate updates The Footsie had traded within a narrow range in morning trade after a strong start ahead of a closely watch interest rate decision from the European Central Bank (ECB) due th
Read moreBroker tips: Legal and General, Randgold, Smith and Nephew
3rd May 2012 10:47
Nomura has maintained its buy rating and 182p target price for insurance group Legal and General, saying that the firm's first quarter showed strong asset management inflows. The stock is trading at just 7.7 times 2012 earnings, compared with the UK sector average multiple of 9.6. "We think the sh
Read moreBroker snap: Nomura reiterates buy rating for Legal and General
3rd May 2012 09:33
Nomura has maintained its buy rating and 182p target price for insurance group Legal and General, saying that the firm's first quarter showed strong asset management inflows. Sales and flow figures were in line or above expectations, says Nomura. Total new business annualised premium equivalent of
Read moreThursday broker round-up
3rd May 2012 09:15
Afren: finnCap downgrades from buy to hold. Carnival: Shore Capital upgrades from hold to buy. CSR: Jefferies reiterates buy rating and 290p target. Fenner: Credit Suisse downgrades from outperform to neutral, target cut from 540p to 480p. Ferrexpo: Renaissance Capital upgrades from hold to buy.
Read moreNew business ossifies at Legal and General
3rd May 2012 08:43
Insurance giant Legal and General disappointed the market with its first quarter revenue figure, which was barely changed from a year earlier. New business on an annualised premium equivalent (APE) business in the first three months of 2012 edged up to £434m from £433m in the first quarter of 2011
Read moreLondon close: Financials weigh on Footsie
18th Apr 2012 16:34
- Financials, ex-div stocks weigh down Footsie - BoE's Miles alone on more QE - Italy may delay achieving balanced budget by a year The Footsie finished firmly lower on Wednesday afternoon despite some positive domestic jobless figures, as concerns over the Eurozone continued to dampen sentiment. S
Read moreFTSE 100 movers: Miners leading the way
18th Apr 2012 13:50
Miners were among the best performers on the Footsie with precious metals group Fresnillo rising strongly. The group this morning hailed a strong start to 2012 with gold production beating its own expectations and silver output being on target. BHP Billiton was wanted after iron ore production at
Read moreLondon midday: Investors show caution after yesterday's strong rise
18th Apr 2012 11:46
- Ex-div stocks weigh on Footsie - MPC minutes: Miles calls for more QE - Eurozone swings to deficit in February - UK jobless rate falls for first time since May 2011 London's FTSE 100 index was trading slightly lower by Wednesday lunchtime following a strong showing from the benchmark yesterday, a
Read moreLondon open: Stocks flat before MPC minutes
18th Apr 2012 08:22
- Supermarkets rise after Tesco's results - BHP, Fresnillo lead miners higher - Markets await MPC minutes London's blue chips opened broadly flat on Wednesday morning despite a strong rise by supermarket and mining stocks. Stocks rose strongly on Tuesday, with the Footsie gaining nearly two per ce
Read moreFTSE 100 movers: Ashmore bucks the trend
5th Apr 2012 14:32
Fund manager Ashmore was bucking the downward trend of the financial sector after UBS raised its rating on the stock from neutral to buy. The broker said that its recent under-performance, combined with the strong fund performance and record inflows at industry level, was the reason behind the upgra
Read moreLondon midday: Footsie down after manufacturing data, BoE holds rates
5th Apr 2012 11:41
- BoE holds rates, QE - UK manufacturing in surprise decline - Financials lead Footsie lower, Ashmore bucks trend After a cautious start, the Footsie found its direction by mid-morning, falling steeply after some worse-than-expected domestic manufacturing data. Meanwhile, the Bank of England's po
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