London midday: Markets cautious on critical day for Cyprus
22nd Mar 2013 11:47
European stocks were making moderate gains on Friday morning but the mood on financial markets was cautious with the focus firmly on Cyprus ahead of pivotal day for the country's future in the Eurozone. According to government spokesman Christos Sylianides this morning, the "next few hours" are key
Read moreLondon open: Fears of a Cyrpiot default weigh on stocks
22nd Mar 2013 08:29
While the attention had diverted away from Cyprus temporarily over the last few days - owing to the Budget in the UK and the FOMC decision in the States - concerns had returned with a vengeance on Friday morning, causing stocks to slip early on. It seems that talks with Russia to provide additional
Read morePhoenix unveils strong results underpinned by solid cash generation
22nd Mar 2013 07:17
FTSE 250-listed closed life fund consolidator Phoenix Group has unveiled strong results for the financial year ended December 31st underpinned by solid cash generation from its operating companies. The group's operating companies' cash generation was valued at £690m, compared to £810m, at the upper
Read moreSector movers: Aviva and Standard Life weigh on insurance sector
7th Mar 2013 14:34
A surprise dividend cut from Aviva meant that the life insurance sector was the worst performing category on Thursday as shares in the UK firm plummeted. The stock was down 11.6% at 318p in afternoon trade after the company swung to a loss after tax of £3.05bn in 2012, compared with a profit of £60
Read moreWednesday broker round-up UPDATE
27th Feb 2013 08:11
: Panmure Gordon reduces target price from 2159p to 1742p and reiterates its hold recommendation. Antofagasta: JP Morgan cuts target price from 1485p to 1400p, while retaining its overweight rating. Barclays: Numis raises target price from 351p to 400p and upgrades to buy. BT Group: UBS moves tar
Read moreLondon pre-open: Minimal gain expected in opening trade
18th Feb 2013 07:31
City sources predict the FTSE 100 will open up marginally higher from Friday's close of 6,328, with a gain of just three points expected. The coming week will see the flow of data or events on the macroeconomic front pick up, with the ´tempo´ building as the days pass, culminating with the Italian
Read morePhoenix unveils results of capital raising
18th Feb 2013 07:04
Phoenix Group, the UK consolidator of closed-life assurance funds, has received valid acceptances for 31.5m open offer shares from shareholders entitled to participate in the open offer, the company has announced. The announcement comes 19 days after the company announced details of a capital rais
Read moreFriday broker round-up UPDATE
1st Feb 2013 07:55
Afren: HSBC shifts target price from 190p to 200p, while reiterating an overweight rating. Antofagasta: Exane BNP reduces target price from 1500p to 1350p maintaining an outperform rating. Antrim Energy: Westhouse Securities lowers target price from 70p to 65p and reiterates a buy recommendation.
Read moreLondon close: Footsie slips after surprise US contraction
30th Jan 2013 16:57
After a decent start, London's FTSE 100 index slipped into the red in the afternoon session, as disappointing gross domestic product (GDP) figures from the US dampened risk appetite. Mining stocks bore the brunt of the selling today, pulling the resource-heavy Footsie down from the four-and-a-half-
Read morePhoenix hikes dividend and pays off debt
30th Jan 2013 08:38
Shares in Phoenix Group, the consolidator of closed life assurance funds, jumped after it announced a big hike in its dividend and suggested there was more on the way. The company boosted its final dividend by 27% and said it would amend existing dividend conditions, giving it the flexibility to in
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