Novae bounces back in second half
4th Mar 2010 13:32
Underwriter Novae recovered in the second half after hefty aviation and credit losses hit the early part of the year. Underlying profit before tax fell to £17.7m from £27.3m, with pre-tax profits tumbling to £4.2m from £40.2m. The group lost £18.5m at the half-year. Net assets per share rose 4% to
Read moreInchcape chairman buys
22nd Dec 2009 16:07
Inchcape non-executive chairman Ken Hanna has nearly doubled his stake in the vehicle distributor and dealer. Hanna has acquired 330,000 shares at 29.58p each, costing a total of £97,614. That takes his stake to 700,000 shares. Hanna acquired 333,000 shares at 6p each in April's rights issue. T
Read moreTuesday tips round-up: BHP Billiton, Rio Tinto, Shanks
8th Dec 2009 06:36
The fundamentals for both BHP Billiton and Rio Tinto look good now their iron ore tie-up in Australia has finally happened. Spot iron ore prices are currently around one-third higher than contract prices, indicating the latter will move in line, and Chinese steel production continues at high level
Read moreBenign claims lift Novae
7th Dec 2009 12:51
Underwriter Novae has seen an improvement in its business in the third quarter, which if maintained, will 'counter the disappointments of the first half'. Group gross written premium for the nine months of 2009 rose to £308.2m, up 15.1%, while rate increases averaged 9% against a 7% reduction this
Read moreNovae looking for strong fourth quarter
11th Nov 2009 14:01
Underwriter Novae Group is looking for the steady improvements in trading in the third quarter to feed through to the fourth quarter in order to make good setbacks suffered in the first half. The group's gross written premiums in the first nine months of 2209 rose 15.1% to £308.2m from £267.8m in t
Read moreNovae non-execs ups stake
21st Aug 2009 16:10
Peter Matson, a non-executive director at Novae Group spent £60,000 on shares in the group yesterday as the underwriter and speciality insurer announced the formation of a new reinsurance unit to diversify its offerings. He bought 20,000 shares at 303p a time. It takes his holding to about 590,00
Read moreFTSE 250 movers: Wellstream recovers some losses
21st Aug 2009 11:10
Shares in Wellstream Holdings have recovered slightly after falling sharply yesterday when the pipeline products maker for the oil and gas industry reported a slide in half-year profits. Silicon wafers supplier PV Crystalox Solar, which said on Wednesday it is confident of a "robust" performance in
Read moreSmall caps round-up: Toledo Mining, Gasol, Novae...
20th Aug 2009 10:25
Toledo Mining fell back after it said a shipment of nickel ore from the Berong mine in the Philippines to mining giant BHP Billiton had been delayed due to bad weather BHP is lodging a claim for the delay. Africa-focused oil and gas explorer Gasol has raised a further £1m through a placing of shar
Read moreSunday tips round-up: BG, Accsys, Gulfsands
9th Aug 2009 11:26
Shareholders have done well out of oil and gas group BG and some who bought shares back in the 1980s or even in 2006 may be tempted to take profits. There is no harm in selling some stock - maybe even 30%- but hold on to the rest. This company is solid, reliable and should continue to deliver for
Read moreLondon close: Blue chips surge continues
30th Jul 2009 16:42
Corporate newsflow and resurgent miners sent Footsie to within a whisker of its highest close this year. Investors piled into blue chips after a string of household names reported earnings this morning. Triple-digit gains for the Dow added to the upward momentum in the afternoon. Telecoms giant
Read moreLondon afternoon: Miners push Footsie higher
30th Jul 2009 14:48
Corporate news-flow and resurgent miners are driving Footsie higher today, with the benchmark index adding to its gains over the lunch-time session. Telecoms giant BT racked up a double-digit percentage gain in the morning after quarterly figures that were not as bad as feared. EBITDA (earnings b
Read moreAir France crash hits Novae
30th Jul 2009 12:00
Underwriter and specialty insurer Novae Group slipped into the red at the interim stage after taking a £26m hit from aviation reinsurance and credit insurance claims. "An otherwise sound performance in the first half was hit principally by an abnormal incidence of loss during the period in our avia
Read moreLondon midday: Footsie tops 4600
30th Jul 2009 11:54
Footsie has broken through the 4,600 barrier, helped by well received results from index heavyweight BT and strong demand for miners. Telecoms giant BT racked up a double-digit percentage gain in the morning after quarterly figures that were not as bad as feared. EBITDA (earnings before interest, t
Read moreBrit confirms Chaucer talks
12th Jun 2009 16:02
Brit Insurance confirmed it is in talks regarding a possible all share offer for underwriter Chaucer. There can be no certainty that an offer will be forthcoming, the group added. Earlier this year, Novae ended merger talks with rival Chaucer after concluding it was not possible to structure the d
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