Phoenix profits edge higher in 2013
26th Mar 2014 07:55
- Cash generation exceeds targets - Profits up two per cent, AuM and dividend flat - Ignis sold to Standard Life, gearing to fall Closed life funds consolidator Phoenix Group left its 2013 full-year dividend payout unchanged after operating profits rose two per cent and assets under management (AuM
Read morePhoenix plans gearing reduction through Ignis disposal
26th Mar 2014 07:29
Closed life funds consolidator Phoenix Group has sold its Ignis Asset Management division to Standard Life as part of its planned reduction in gearing levels and diversification of its financing structure. The £390m cash deal came just two days after the companies confirmed media speculation that t
Read moreFTSE 250 movers: Diploma falls on full-year outlook
24th Mar 2014 13:52
Technical product firm Diploma was a big faller after it told investors its final results would be adversely affected by the appreciation of sterling. Broker Jefferies warned that currency headwinds will likely result in mid-single digit downgrades to earnings estimates for this year. Diploma, whi
Read moreLondon midday: Stocks fall as Crimea turmoil drags on
24th Mar 2014 11:42
- Ukraine tensions escalate as G7 leaders meet - Interim President orders withdrawal from Crimea - Chinese manufacturing PMI eases - Kentz, Centamin impress, Diploma drops techMARK 2,769.80 -0.75% FTSE 100 6,537.07 -0.31% FTSE 250 16,085.67 -0.46% Heightened geopolitical tensions in Ukraine pushed
Read morePhoenix would be 'selling the family silver' in Ignis deal, says Shore Capital
24th Mar 2014 10:28
Shore Capital has reiterated its 'hold' recommendation on insurer Standard Life after the company confirmed speculation that it is in talks with Phoenix regarding the potential purchase of the latter's Ignis Asset Management division. Standard Life said it was in "exclusive and advanced" discussion
Read moreLondon open: Ukraine, China fears weigh on stocks
24th Mar 2014 08:24
- Reports of increased Russian presence near Ukraine border - Chinese manufacturing PMI falls - Standard Life in talks with Phoenix over Ignis - Kentz, Centamin rise after results techMARK 2,779.91 -0.39% FTSE 100 6,549.85 -0.11% FTSE 250 16,173.87 +0.09% UK stocks opened in the red on Monday as r
Read moreSector movers: Life Insurers lifted by ratings report
19th Dec 2013 14:39
Life insurers were almost universally higher after rating agency Fitch gave an encouraging bill of health on US counterparts for 2014. The sector was up 2.3 per cent on the day. Insurance peers Aviva, Legal & General, Old Mutual, Phoenix, Prudential, St James's Place and Standard Life were all high
Read moreLondon close: FTSE 100 finishes at eight-week low
5th Dec 2013 16:27
- FTSE 100 at lowest level since October 11th - Autumn Statement, BoE, ECB in focus - Eyes on jobs report ahead of Fed meeting - AZ Electronic soars after 1.6bn-pound offer from Merck techMARK 2,648.11 +0.15% FTSE 100 6,498.33 -0.18% FTSE 250 15,157.70 +0.20% UK markets traded broadly sideways on
Read moreFTSE 250 movers: AZ Electronic Materials gains on Merck takeover
5th Dec 2013 15:16
AZ Electronic Materials advanced after Merck KGaA agreed to buy the speciality chemicals company for about 1.6bn pounds, a 53 per cent premium to the stock's closing price on Wednesday. Gold miner Centamin rallied as miners rebounded following a sell-off earlier in the week. Sector peer Polymetal h
Read moreThursday broker round-up UPDATE
14th Nov 2013 09:21
Afren: Goldman Sachs moves target price from 260p to 270p and retains its strong buy recommendation. APR Energy: Citi raises target price from 1250p to 1350p reiterating a buy recommendation. Atkins: Investec places both its target price (prev.: 1025p) and its reduce rating under review. Babcock
Read morePhoenix on track to hit top of 2013 cash generation target
25th Oct 2013 07:03
- Year-to-date cash generation of 734m pounds - Discussions with Swiss Re's UK Admin Re division "progressing" Phoenix said it was on track to hit the top end of its 2013 cash generation target range after a strong financial performance in recent months. The closed life fund group, which is in tal
Read moreTuesday broker round-up UPDATE
17th Sep 2013 08:56
Aggreko: Credit Suisse reduces target price from 2000p to 1400p and downgrades from neutral to underperform. Antofagasta: WH Ireland downgrades to neutral. Associated British Food: Nomura moves target price from 1650p to 1670p staying with its reduce rating. Aviva: Berenberg downgrades from hold
Read moreSector movers: Prudential leads life insurers higher
16th Sep 2013 15:45
Life insurance stocks were performing well on Monday as financials benefited from strong start to the week for stock markets across the globe. Prudential was among the best performers after Panmure Gordon hiked its target price for the stock from 1,376p to 1,453p and retained its 'buy' rating follo
Read moreLondon close: Stocks higher after late rally ahead of risk events
4th Sep 2013 16:37
The FTSE 100 managed to rally in afternoon trade on Wednesday to finish in positive territory after a strong start on Wall Street, though gains were only modest ahead of several key 'risk events' which have the potential to spark market volatility. It is set to be a busy end to the week with centra
Read moreLondon midday: Markets cautious ahead of risk events, Syria action
4th Sep 2013 11:26
Traders adopted a cautious approach on Wednesday morning with UK stocks registering losses in morning trade ahead of a number of 'risk events' later in the week which have the potential to spark market volatility. Fears about impending US military action in Syria also hit investor sentiment today a
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