London midday: Financials jump despite jobs data
14th Mar 2012 11:43
- UK unemployment on the rise - Banking stocks lifted by US stress test results - Legal and General beats forecasts in 2011 Stocks held on to earlier gains by lunchtime on Wednesday despite some gloomy jobs data. Financials were leading the rise, buoyed by the results of the stress tests in the US
Read moreBroker snap: Nomura happy with L and G's results
14th Mar 2012 10:50
Nomura has reiterated its buy recommendation and 180p target price for insurance group Legal and General after its 2011 results came in ahead of consensus expectations in key areas. The group generated an IFRS operating profit of £1,056m, from £1,002 in 2010, and just ahead of estimates of £1,042m.
Read moreWednesday broker round-up
14th Mar 2012 10:02
Antofagasta: Fox-Davies upgrades from sell to hold, target lifted from 1,121p to 1,197p. AZ Electronic Materials: Goldman Sachs upgrades from buy to conviction buy, target raised from 380p to 440p. Close Brothers: UBS raises target from 690p to 750p, neutral rating kept. Computacenter: UBS raises
Read moreDivi delight at Legal and General
14th Mar 2012 08:42
The legion of income investors holding shares of Legal and General were cheered by the insurance leviathan's division to bump up the 2011 dividend by more than a third, well ahead of market expectations. The final dividend in respect of fiscal 2011 has been increased by a whopping 39% to 4.74p per
Read moreLondon open: Legal and General leads the Footsie higher
14th Mar 2012 08:28
- Legal and General jumps five per cent after solid 2011 - Majority of US banks pass stress tests - Osborne considering 100-year gilts London's blue chips rose strongly on Wednesday morning, led by financial stocks, following on from a surge on Wall Street last night. The Footsie opened up at level
Read moreLondon pre-open: FTSE to continue its winning streak
14th Mar 2012 07:29
City sources predict the FTSE 100 will open up 21 points from yesterday's close of 5,956, with investor sentiment boosted after stocks surged in the US and Fitch announced an upgrade of its rating for Greece out of default territory. All four of insurance leviathan Legal and General's operating b
Read moreLegal and General hikes divi by more than a third
14th Mar 2012 07:05
All four of insurance leviathan Legal and General's operating business divisions delivered increased sales, cash generation and profits in 2011. Although operating profit in 2011 rose to £1,056m from £1,002m the year before, profit before tax eased to £956m from £1,092m in 2010, below market expect
Read moreBroker snap: Aviva still a buy but not a top pick, says Nomura
8th Mar 2012 09:54
Nomura has reiterated its buy rating and 630p target price on insurance giant Aviva, after its full-year results showed 'good earnings and improving solvency'. Full-year earnings were better than expected with IFRS operating profit of £2,503m beating consensus estimates of £2,414m and operational c
Read moreBroker tips: Barclays, UK insurers, Yell
14th Feb 2012 11:25
UBS has raised its target price for UK lender Barclays by 21% but has maintained its neutral rating on the stock, saying it is "well-positioned but under-earning." The uplift in the target price, from 199p to 240p, reflects the improvement in tangible net asset value from the BlackRock revaluation
Read moreTuesday broker round-up - UPDATE
14th Feb 2012 10:40
British Land: Credit Suisse downgrades to neutral from outperform, target cut to 532p from 560p. Barclays: UBS raises target from 199p to 240p, neutral rating kept. Shore Capital upgrades to neutral from sell. Exane BNP upgrades to overweight from neutral. Standard Life: Nomura raises target from
Read moreBroker snap: L&G offers better value than peers, says Nomura
14th Feb 2012 09:56
Nomura has highlighted Legal & General (L&G) as its preference in the UK insurance sector, saying that it has higher cash yields than peers Aviva, Prudential and Standard Life. "We estimate that L&G still has the highest cash yield of 10% in the sector, measured against our FY 2011 cash earnings fo
Read moreSegro JV scoops UK Logistics Fund
1st Feb 2012 07:50
Industrial property firm Segro and Moorfield Real Estate Fund have together, through their recently established joint venture (JV), completed the acquisition of the UK Logistics Fund from Hermes Real Estate Investment Management, Legal & General and LaSalle Investment Management. The move marks a s
Read moreLondon close: Financials lead the way higher
15th Dec 2011 16:56
Footsie limped back above the 5,400 level in thin trade, with financial stocks leading the way. OLD MUTUAL SURGES AFTER DISPOSAL South African savings and insurance group Old Mutual was the best performing blue-chip after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in
Read moreSector movers: Old Mutual boosts life insurers after Nordic sale
15th Dec 2011 15:01
Life insurance stocks were on the rise on Thursday afternoon, helped by FTSE 100 savings, investment and insurance group Old Mutual. Shares in Old Mutual roared higher on Thursday after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in an effort to "reduce complexity" and p
Read moreFTSE 100 Movers: Old Mutual jumps into first place
15th Dec 2011 14:36
Old Mutual, the savings and investment group, leapt into the top spot on news it is to sell its Nordic business Skandia AB for £2.1bn in an effort to "reduce complexity" and pay down debt. The deal, which still needs regulatory and shareholder approval, is expected to complete during the first quar
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