Broker snap: Jefferies turns cautious on insurers
2nd Jul 2012 10:59
Jefferies has downgraded its rating for insurance group Catlin as part of its review of the Lloyds of London insurance market. "Although forecasts are for a relatively quiet hurricane season this year, the recent strong performance of the London Market insurers warrants some caution. With capital p
Read moreMonday broker round-up
2nd Jul 2012 09:28
Amlin: Jefferies keeps hold rating and 350p target. Avocet Mining: Numis downgrades to hold, target slashed from 230p to 130p; Westhouse Securities downgrades to neutral, target cut from 262p to 102p; JP Morgan Cazenove downgrades to neutral, target cut from 240p to 100p. Barclays: Investec mainta
Read moreTuesday tips round-up: Severfield-Rowen, Serco, Lancashire Holdings
12th Jun 2012 06:55
The Telegraph's Questor column stays steer clear of structural steel firm Severfield-Rowen. It issued a profits warning yesterday, prompting a big sell-off. This has an attraction for investors because buying on weakness often leads to profits. But Questor believes the construction industry is too w
Read moreFTSE 250 movers: Aquarius Platinum dives on operations halt
11th Jun 2012 14:59
Aquarius Platinum disappointed investors after saying that its operations with its Marikana Pooling and Sharing Agreement in South Africa are being put on hold as a result of the ongoing low PGM (platinum group metals) basket price. 'Trading conditions in the platinum industry are expected to remain
Read moreLancashire whips out Accordion for another year
11th Jun 2012 07:24
Insurance underwriter Lancashire Holdings has renewed Accordion Insurance, its reinsurance 'side-car' vehicle set up to enable reinsurance contracts to be collateralised. Flexibly capitalised for up to $250 million, Accordion was launched in May 2011 as a fully collateralised side-car quota share r
Read moreLancashire Holdings rues Costa Concordia losses
4th May 2012 07:47
Insurance group Lancashire Holdings' performance was hurt by the Costa Concordia shipwreck in the first quarter, while pay costs have rocketed. The main way insurance companies are judged is by something called the "combined ratio" - this compares the amount received in premiums against the amount
Read moreLondon open: Stocks drop on US jobs report
10th Apr 2012 08:32
- Markets digest Friday's US jobs data - Rising exports push China into trade surplus - Randgold bounces back after Malian settlement After a long weekend, the FTSE 100 fell sharply in early trade on Tuesday on the back of a mixed performance by the miners and a decline in the banking sector, as in
Read moreLancashire rolls over credit facility for another five years
10th Apr 2012 07:42
Insurance firm Lancashire Holdings has rolled over a credit facility with its bankers for another five years. The speciality insurance product provider entered into a new $350m five year letter of credit and revolving facility with Lloyds TSB Bank as administrative agent and issuing bank and Barcla
Read moreMaintel sales director reduces sizeable stake in firm
28th Mar 2012 16:09
Angus McCaffery, Sales and Marketing Director of Maintel, a telecoms and data services company, sold off 115,000 ordinary shares for 380p each. The £437,000 transaction left McCaffery with just over two million shares, equal to around 19.25% of the company. Earlier this month the firm posted a r
Read moreLondon close: Subdued finish for Footsie, but Vedanta jumps
24th Feb 2012 17:07
- Vedanta jumps on further speculation of restructuring in India. - Lloyds falls on tough outlook for 2012. - BoE's Fisher thinks outlook is 'incredibly uncertain'. The Footsie finished flat on Friday after the blue chip index swung between gains and losses in a tight range of just 20 points or so
Read moreFTSE 250 movers: Aquarius Platinum drops on plan fail
24th Feb 2012 14:24
Mining giant Aquarius Platinum fell after it said the Indigenisation Implementation Plan that its indirect 50% subsidiary submitted to the government of Zimbabwe in November 2011 has been rejected. Mimosa Holdings had submitted a plan outlining how it would meet the country's law requiring foreign
Read moreFriday broker round-up - UPDATE
24th Feb 2012 09:36
Lloyds Banking Group: Nomura keeps reduce rating and 35p target; Credit Suisse keeps neutral rating and 33p target. Royal Bank of Scotland: Nomura reiterates reduce recommendation and 26p target. RSA Insurance: Nomura downgrades from buy to neutral, target reduced from 148p to 120p; UBS keeps long
Read moreLancashire still chipper after unusually tough year
23rd Feb 2012 09:33
Insurance underwriter Lancashire Holdings survived one of the toughest years for the insurance industry in living memory in 2011 and says things are beginning to look up. The optimistic tone comes despite 2012 getting off to a bad start, with January's Costa Concordia cruise ship disaster. Based on
Read moreThursday broker round-up - UPDATE
23rd Feb 2012 08:31
Bodycote: Credit Suisse raises price target on Bodycote to 380p from 350p. Royal Bank of Scotland: Nomura keeps reduce rating and 26p target. British American Tobacco: Nomura maintains buy rating and 3,320p target. RSA Insurance: Nomura reiterates buy rating and 148p target. Anglo American: Alp
Read moreFTSE 250 movers: BTG on the up after trial success
30th Jan 2012 13:35
Healthcare firm BTG was on the up after successfully completing the first phase of the US-based trial of Varisolve, a varicose vein treatment. Casinos group Rank was also higher after confirming speculation that it is in talks with Gala Coral about the potential acquisition of Gala's casino busine
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