Phoenix in tie-up talks with Swiss Re
12th Jul 2013 07:19
Phoenix Group is in talks with Swiss Re about combining their businesses. The deal would bring Phoenix together with the Swiss insurance giant's Admin Re business and would see Swiss Re take a minority stake in Phoenix. Phoenix said in a statement that discussions were at an early stage and ther
Read moreThursday broker round-up UPDATE
20th Jun 2013 08:43
Ashtead Group: Jefferies takes target price from 690p to 750p and leaves its buy recommendation unchanged. ASOS: Deutsche Bank increases target price from 3300p to 3800p and reiterates a hold recommendation. Atkins: Liberum Capital takes target price from 1020p to 1100p and maintains a buy recomme
Read moreLondon midday: FTSE 100 lifted by Resolution, Reckitt and Vodafone
17th Jun 2013 11:22
The FTSE 100 was performing strongly on Monday morning as bargain hunters moved in to pick up stocks following the index's recent slump. Global markets have been extremely choppy over the last month since Federal Reserve Chairman Ben Bernanke suggested that the bank could begin 'taper' its quantita
Read morePhoenix Group Holdings on track to meet financial targets
3rd May 2013 12:55
Phoenix Group Holdings said it achieved strong cash generation in the first quarter and remains on track to meet its financial targets. The company reported £410m of cash for the first three months of the year, driven largely by free surplus within its Life division which benefitted from significa
Read moreFriday broker round-up UPDATE
12th Apr 2013 07:25
Aggreko: Panmure Gordon raises target price fro, 1727p to 2106p and upgrades from hold to buy. Alternative Networks: Westhouse Securities moves target price from 280p to 295p and reiterates a neutral rating. Investec raises target price from 330p to 350p maintaining a buy recommendation. Finncap in
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreLondon close: Gains erased as Cyprus puts bank levy back on the table
22nd Mar 2013 16:47
Stocks trimmed gains on Friday afternoon on the back of ongoing developments in Cyprus as politicians desperately scramble to come up with a 'Plan B' to raise the funds needed to secure financial assistance from the Troika. Nevertheless, markets maintained their positive bias on hopes that a deal c
Read moreFTSE 250 movers: Phoenix Group climbs on strong results
22nd Mar 2013 15:51
Closed life fund consolidator Phoenix Group climbed after it unveiled strong results for the financial year ended December 31st, underpinned by solid cash generation from its operating companies. Howden Joinery was higher after Canaccord Genuity raised its target price from 174p to 305p and upgrad
Read moreLondon 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 more