Old Mutual appoints new CEO Hemphill
15th Apr 2015 07:57
Insurance and banking group Old Mutual has appointed well-respected South African banker Bruce Hemphill as its new chief executive. The current chief executive of wealth, insurance and non-bank financial services at South Africa's Standard Bank will replace outgoing CEO Julian Roberts during the fou
Read moreSector movers: Results from Aviva and Friends Life spark surge among life insurers
5th Mar 2015 14:18
Insurers Aviva and Friends Life Group (FLG) each jumped over 7% on Thursday as investors celebrated the companies' 2014 results ahead of the proposed merger, giving the life insurance sector a big boost in London. The impressive figures also helped to allay fears across the wider sector, showing tha
Read moreLondon midday: FTSE flat on mixed earnings as Germany approves Greek extension
27th Feb 2015 11:50
UK stocks touched a new intraday record on Friday before slipping into the red, as investors treaded carefully on another busy day for corporate earnings and economic data. The FTSE 100 reached a new high of 6,960.00 early on, surpassing the previous intraday record reached on Tuesday, but had erase
Read moreLondon open: Stocks flat early on ahead of German vote and economic data
27th Feb 2015 08:27
Strong gains from Lloyds, IAG and Old Mutual were not enough to lift markets on Friday as UK stocks held steady near record levels. The FTSE 100 was trading 0.07% lower at 6,945.11, after having settled at an all-time closing high of 6,949.73 on Thursday. Markets were directionless early on ahead o
Read moreOld Mutual profit rises 16% on economic growth in US and UK
27th Feb 2015 07:59
Improving economic growth in Britain and the US saw insurance and investment group Old Mutual report a 16% increase in its operating profit for 2014, after a year of significant strategic development. The company said operating profit rose to £1.6bn, while analysts had expected a figure closer to £1
Read moreLondon close: Greek fears rattle stocks, but miners limit downside
9th Feb 2015 16:35
London's FTSE 100 had trimmed losses by the end of the session but still finished in the red as ongoing concerns about the future of Greece weighed on market sentiment. "Eurozone equities are being ground down by Greek fears, and financial stocks across the EU are bearing the brunt of the sell-off,"
Read moreOld Mutual ups stake in East African insurance company
26th Jan 2015 14:06
Investment and banking group Old Mutual has increased its stake in a East African insurance company. Old Mutual spent $155.5m for an additional 37.3% stake in UAP Holdings, and now holds a total of 60.7% stake. The purchase is subject to regulatory approvals from others shareholders in the company
Read moreSunday newspaper round-up: Enquest, Britain's economy, Bank of England
18th Jan 2015 19:00
EnQuest is cutting spending, jobs and pay in an effort to avoid breaking the terms of its bank loans, the Sunday Times reported. The biggest independent UK North Sea oil producer's shares have fallen 80% since last summer as the price of crude oil collapsed. Investors took fright because of the comp
Read moreOld Mutual purchases 23.3% stake in UAP Holdings
9th Jan 2015 11:35
Investment, insurance and banking company Old Mutual has taken a 23.3% stake in East and Central African financial services company UAP Holdings for $97.6m (£64.1m). The firm said the deal for UAP - which operates in six different countries in the region, including Kenya, Uganda and Tanzania and the
Read moreAnother Quindell director tops up his stake
7th Nov 2014 15:06
Yet another boardmember at Quindell has bought shares in the law, insurance and technology conglomerate, the company announced on Friday. Bickleigh Ridge, a company controlled by non-executive director Steve Scott and his family, has bought 175,000 shares at a price of 120.88p a share, equal to £211
Read moreLondon pre-open: FTSE to move higher ahead of services PMI readings
5th Nov 2014 07:40
UK markets are set to open on a positive note on Wednesday, despite a generally weak performance from the US and Asia overnight. City sources predict the FTSE 100 will open around 42 points higher than Tuesday's close of 6,453.97. Asian markets, with the notable exception of the Nikkei in Tokyo, de
Read moreOld Mutual manages more funds in Q3 but warns of tough economy
5th Nov 2014 07:15
Pension and asset management group Old Mutual posted a 5% rise in funds under management to £307.6bn in the three months to the end of September, but warned of a challenging economic environment. Old Mutual said its wealth operation had £82.2bn of funds under management and its asset management arm
Read moreFriday tips round-up: National Express, Aviva
31st Oct 2014 11:39
National Express seems to be on a firm footing, with a sound base from which to expand into new territories. Nevertheless, the company's chief executive, Mr. Finch, has experienced some setbacks of late. His outfit wasn't picked for Crossrail and he decided not to compete on TransPennine or Northern
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreFTSE 100 movers: Travel stocks fly higher
21st Oct 2014 14:51
Travel stocks were once again in positive territory as the sector recovered from a recent poor performance amid mounting concerns about the Ebola crisis. A report from Reuters claiming the European Central Bank is considering the possibility of buying corporate bonds on the secondary market, potenti
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