Broker tips: Legal & General, Drax, Polo Resources
21st Sep 2011 12:22
Following a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreLondon midday: Stocks stuck lower ahead of Greek announcement
21st Sep 2011 12:02
The top share index remains a few points in the red, with all eyes on Greece ahead of the sticken Eurozone member's announcement of austerity measures. Greece's foreign minister Stavros Lambrinidis has assured that the country will stay in the euro and not default. "For the past year and a half I'
Read moreUPDATE: Wednesday broker round-up
21st Sep 2011 08:52
Inmarsat: Citi downgrades to hold from buy. Inmarsat: Morgan Stanley downgrades to underweight from neutral. Imperial Tobbacco: Investec retains buy. Carnival: Credit Suisse confirms neutral rating and 2,357p target. Drax: Credit Suisse cuts target from 400p to 350p, underperform rating maintain
Read moreLondon open: Greek worries drag down market early on
21st Sep 2011 08:34
Markets opened lower on Wednesday morning on the back of ongoing concerns over the Eurozone, despite a Greek official assuring that the country will not default. Meanwhile, investors in London await the release of the policy rate decision from the Bank of England's Monetary Policy Committee (MPC) du
Read moreBroker snap: UBS slashes target for Legal & General
21st Sep 2011 08:23
Following a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreThursday tips round-up: Rightmove, Legal &General, Taylor Wimpey
4th Aug 2011 06:49
The phenomenon that is Rightmove chalked up another rock-solid performance in the six months to June. The online property advertising platform seems unstoppable. The shares are a strong hold, even on a gloomy view of the economy and the housing market. Investors of a more sunny disposition should bu
Read moreLondon close: ARM and Imagination Technologies lead the slide
3rd Aug 2011 16:40
Stocks were posting triple-digit losses at the finish, with the FTSE 100 at its lowest closing level for the year so far as worries over global growth intensified. Things got worse after a poor start in the US, where yesterday's deficit-cutting agreement among politicians has done little to assuage
Read moreBroker snap: Legal & General's valuation 'compelling', says Nomura
3rd Aug 2011 16:32
Nomura has kept its buy rating and 180p target price on insurer Legal & General, saying that its valuation remains "compelling". The firm reported on Wednesday that net cash earnings grew by 14% to £427m, driven by its 'capital light' operations with 30% growth in investment management and a 53% im
Read moreLegal & General hikes divi by 25%
3rd Aug 2011 09:10
Insurance group Legal & General upped its dividend by a quarter in the first half, despite recording a £64m fall in pre-tax profits. Shares fell 1.73% lower to 107.80p at 09:54 on Wednesday morning. The firm paid out £97m to investors by way of an interim dividend, which was raised by 25% from 1.3
Read moreWednesday preview: Standard Chartered, GKN, L&G ...
2nd Aug 2011 17:17
Banks results season continues with emerging markets-focused Standard Chartered shuffling into the spotlight on Wednesday at the unholy time of 5:30am (London time). Japanese broker Nomura - quite possibly the only broker likely to be awake when the figures come out - predicts first half profit bef
Read moreFTSE 100 movers: Financials mixed as investor lock in profits
22nd Jul 2011 14:18
The financial sector was mixed on Friday, despite rising strongly early on following yesterday's Eurozone deal to bailout Greece. Shares soared on Thursday after the region's leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. While RBS bucked the tre
Read moreLondon close: European hopes boost Footsie back to 5,900
21st Jul 2011 16:34
London equities rallied to a strong finish - recouping the losses experienced over the last week - on hopes of a solution to the sovereign debt crisis in Europe. At midday, shares offset early losses as reports surfaced that Europe's leaders have agreed on a new aid package for Greece and an overh
Read moreLondon close: BSkyB, financials provide a drag
11th Jul 2011 16:37
The Footsie dropped over 1% lower on Monday as satellite broadcaster British Sky Broadcasting (BSkyB) and European debt-contagion fears weighed on sentiment. Shares of BSkyB took a tumble as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was pre
Read moreFTSE 100 movers: BSkyB leads fallers, Int'l Power rises
11th Jul 2011 15:11
Shares of BSkyB dropped by6% and was the top loser on the blue chip index on Monday as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was preparing to ask telecoms regulator Ofcom for additional advice. The Australian government's proposal on cl
Read moreSector movers: Insurers rise, retailers fall
7th Jun 2011 16:09
The life insurance sector is being boosted higher by the blue chips today, after Resolution announced a share repurchase. UK insurance buyout firm Resolution was the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' r
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