Old Mutual reports solid rise in net client cash flows
5th May 2016 07:50
(ShareCast News) - Banking group Old Mutual reported an 80% rise in net client cash flows in its first quarter on Thursday, to £1.8bn, citing its vertically-integrated strategy of owning distribution, an investment platform, discretionary fund management and asset management. The FTSE 100 group said
Read moreSunday newspaper round-up: Shell, LSE, Old Mutual
27th Mar 2016 20:27
(ShareCast News) - Shell has quietly begun sounding out buyers for parts of its sprawling North Sea operations amid a slump that has seen the industry shed tens of thousands of jobs. Europe's biggest oil company strengthened its presence in the basin just last month when it completed its blockbuster
Read moreBoard changes for Old Mutual's Nedbank
24th Mar 2016 08:06
(ShareCast News) - Old Mutual's majority-owned South African division Nedbank added a new independent non-executive director to its board on Thursday. The FTSE 100 firm's subsidiary - one of the largest banks in South Africa, which it intends to spin off as part of a separation plan - appointed Erro
Read moreOld Mutual hires investment banker to oversee split
14th Mar 2016 15:08
(ShareCast News) - Old Mutual, which confirmed last week that it will split its business into four units, has appointed Rob Leith as director of managed separation. The financial services company said Leith will be responsible for the coordinated execution of the managed separation. He will work in
Read moreLondon pre-open: Stocks expected to bounce back
11th Mar 2016 07:15
(ShareCast News) - London stocks are set to push higher at the open on Friday, bouncing back from the previous session's Draghi-fuelled losses following positive trading in Asia. The FTSE 100 is seen starting 67 points higher at 6,103. "It was the admission by Mr Draghi during the press conference
Read moreOld Mutual confirms plans to separate four businesses
11th Mar 2016 07:09
(ShareCast News) - Along with preliminary results for calendar 2015, Old Mutual Group announced it will separate its four underlying businesses - Old Mutual Emerging Markets (OMEM), Nedbank, Old Mutual Wealth (OMW) and OM Asset Management (OMAM). Apart from confirming that it will reduce its 54% sta
Read moreTuesday newspaper share tips: Just East, Mediclinic
8th Mar 2016 15:44
(ShareCast News) - Should investors in Just Eat follow its chief and finance director's decision to bail-out of the better part of their stakes in the food-delivery chain? On Monday, each of them discarded roughly 60% of their holdings, sending the stock tanking. However, the company has seen sales
Read moreOld Mutual tells market to wait on split rumours
7th Mar 2016 07:16
(ShareCast News) - Old Mutual responded to weekend press speculation with anything but clarity on Monday, releasing a short statement to the market. The FTSE 100 insurance and finance group was said by Sky News and numerous Sunday newspapers to be planning a £9bn split into numerous standalone compa
Read moreLondon pre-open: Stocks seen lower on profit-taking
7th Mar 2016 07:15
(ShareCast News) - London stocks are expected to open a little weaker on Monday as investors look to book some profits following recent gains. The FTSE 100 is seen starting 29 points lower than Friday's close at 6,170. Michael Hewson, chief market analyst at CMC Markets, said: "Despite this recover
Read moreFCA to investigate six life insurers over exit fees
3rd Mar 2016 10:16
(ShareCast News) - The Financial Conduct Authority has launched an investigation into six insurers following a review of the fair treatment of long-standing life insurance customers in relation to what they disclose about exit fees. The City regulator said on Thursday that Abbey Life, Countrywide, O
Read moreNedbank in strong position, Old Mutual reports
2nd Mar 2016 07:42
(ShareCast News) - Old Mutual reported on the health of its majority-owned South African banking subsidiary Nedbank Group on Wednesday, with the organisation - one of the country's largest banks - showing some strong growth. Headline earnings at Nedbank increased 9.6% during calendar year 2015, to Z
Read moreOld Mutual to sell London-based Rogge Global
8th Feb 2016 10:11
(ShareCast News) - Financial services group Old Mutual has agreed to sell London-based fixed income asset management business Rogge Global Partners to Allianz Global Investors. The company, which did not disclose any financial details, said the deal is expected to complete in the second quarter o
Read moreOld Mutual AM increases fees in fourth quarter
4th Feb 2016 12:57
(ShareCast News) - After a volatile fourth quarter, Old Mutual's asset management subsidiary posted solid core earnings for 2015, stated its confidence about withstanding the market challenges in 2016 and announced a buyback programme. Old Mutual Asset Management (OMAM) posted a $22.7m decrease in q
Read moreLondon close: Equities close higher as oil prices rise, BoJ loosens policy
29th Jan 2016 16:11
(ShareCast News) - The UK equity market closed higher on Friday as oil prices rose and the Bank of Japan's latest policy decision was well received. Oil prices gained on hopes of a deal by major exporters to cut production to address the global supply glut. At 1640 GMT, Brent crude rose 1.4% to $34.
Read moreFTSE 100 movers: South Africa rate rise sends Old Mutual surging
29th Jan 2016 14:50
(ShareCast News) - The FTSE 100 was back over the 6,000 mark on Friday, rising 105.69 points (1.78%) to 6,037.47 by mid-afternoon. Old Mutual topped the list after South Africa's central bank raised interest rates for the second time in two months yesterday. The bank also cut its growth forecast as
Read more