FTSE 100 movers: Old Mutual, housebuilders rally, but miners under the cosh
6th Aug 2015 14:47
(ShareCast News) - London's FTSE 100 index was down 0.2% at 6,740 at 15:00 BST as investors took in 'Super Thursday', which saw the Bank of England deliver its interest-rate decision, minutes and Inflation Report all on the same day. Diversified South African financial group Old Mutual was the stand
Read moreOld Mutual first-half profit and AUM rise
6th Aug 2015 07:59
(ShareCast News) - Insurer Old Mutual posted a 20% rise in first-half adjusted operating profit and lifted its dividend by 8% on the back of a strong performance in the UK and South Africa. For the six months ended 30 June, adjusted operating profit came in at £904m from £761m in the first half of 2
Read moreNedbank first half profits up 15.7%, off non-interest revenue
4th Aug 2015 09:01
(ShareCast News) - Old Mutual subsidiary Nedbank upped its first half earnings by 15.7% to R5223m, off strong non-interest revenue generation. Headline earnings per share were up by 14.1% up to 1,101c from 965c in the first half of last year. Non-interest revenue, such as from transaction and depo
Read moreFTSE 100 movers: Aviva tops risers, housing and property shares fall
8th Jul 2015 16:58
On the day of Chancellor George Osborne's summer Budget, the FTSE 100 was in the green thanks to political boosts for several key sectors and optimistic buying of commodities companies. Aviva was the highest riser just before close on Wednesday, after the Budget saw the chancellor reduce the tax adv
Read moreFTSE 100 movers: Admiral hit by downgrade, Tesco higher on bid speculation
25th Jun 2015 13:29
UK stocks inched lower on Thursday as investors continued to fret over the Greek debt crisis, with creditors issuing an ultimatum to Prime Minister Alexis Tsipras. As of 14:00, the FTSE 100 was trading 0.3% lower at 6,825. Insurer Admiral declined after Citigroup downgraded the stock to 'sell' from
Read moreLondon open: UK stocks rise ahead of pivotal Eurogroup meeting on Greece
24th Jun 2015 09:13
UK stocks opened with small gains on Wednesday morning ahead of another Eurogroup meeting, as officials hope to secure desperately-needed bailout funds for Greece. The FTSE 100 was up 0.22% at 6,849.80 early on, rising for the fifth consecutive session. The index has not closed above this mark since
Read moreOld Mutual ups stake in UAP; appoints non-exective director of OMEM
24th Jun 2015 07:03
Old Mutual said on Wednesday that it has completed the acquisition of a further 37.3% shareholding in UAP Holdings, bringing its total interest to 60.7%. It said they have commenced with the integration process to combine the businesses. In a separate statement, the company also announced the appoi
Read moreOld Mutual prices asset manager share offering at $17.50
17th Jun 2015 08:11
Old Mutual said on Wednesday that it is planning to offer 13.3m shares in its asset management business at $17.50 each to raise money for general corporate purposes. Old Mutual has granted the underwriters a 30-day option to purchase up to an additional 1.995m shares at the public offering price, le
Read moreOM Asset management launches secondary offering
15th Jun 2015 12:06
OM Asset Management has made a secondary offering of 11 million ordinary shares, for general corporate purposes, Old Mutual announced Monday. OMAM will not sell shares in the proposed offering and therefore will not receive the proceeds, the company said in a statement. The underwriters also hav
Read moreOld Mutual gains approval for additional stake in UAP
3rd Jun 2015 11:08
Old Mutual has received the necessary approvals for its acquisition of an additional 37.3% of UAP, an East and Central African financial services company. The purchase, which is expected to take place within the next two months, will take the group's stake in UAP to 60.7%. Shares in Old Mutual had
Read moreOld Mutual sells Swiss unit to Life Invest Holding
29th May 2015 08:03
Old Mutual has agreed to sell Skandia Leben in Switzerland, part of the Old Mutual Wealth unit, to Life Invest Holding for an undisclosed sum. The group said the deal is expected to be complete in six months after regulatory approvals. "The transaction continues Old Mutual Wealth's commitment to si
Read moreFriday tips round-up: Old Mutual, Vesuvius
15th May 2015 16:06
Old Mutual's latest quarterly results revealed gross sales up by almost a fifth, mostly thanks to its UK-based wealth management unit. Yet the company continues to be dogged by pressures to give up its London domicile and listing. The firm still obtains two-thirds of its operating profits from South
Read moreOld Mutual confident for 2015 despite mixed first quarter results
14th May 2015 08:14
Insurance and banking group Old Mutual reported mixed first quarter results, with gross sales ahead of consensus but with net client cash flows lower than expectations. The FTSE 100 group said gross sales rose 18% year-on-year on a constant currency basis to £7.3bn in the three months to end of Marc
Read moreSector movers: Tobacco, financial stocks tumble as market retreats from election highs
12th May 2015 15:04
Most sectors were in the red as the London market pulled back from post-election highs on Tuesday with the FTSE 100 back below the 7,000 mark. At 15:51 BST, the blue chip index was trading down 103.87 points or 1.48% at 6925.98, with the bounce received from the election of a Conservative majority g
Read moreOld Mutual's Nedbank sees increase in first quarter interest
11th May 2015 08:23
Financial services group Old Mutual said Nedbank, the South African bank in which it owns a 52% stake, reported an increase in first quarter net interest. In a statement released on Monday, the lender said its interest income rose 4.3% to 5.57bn South African Rand in the quarter to 31 March, while t
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