Prudential facing 'significant' Asia slowdown and US headwinds, says SocGen
1st Jun 2016 10:31
(ShareCast News) - Societe Generale has downgraded Prudential to a 'hold' rating from its previous 'buy' due to pressure on the investment and savings group's earnings from tougher conditions in Asia and the US. Cutting its 12-month price target to 1,400p from 1,900p, SocGen said Pru's US franchise
Read moreFTSE 100 movers: RBS and Tesco lead strong rally
24th May 2016 15:05
(ShareCast News) - The FTSE 100 shrugged off an early dip to put on a strong gain over Tuesday's session as Brexit odds lengthened, oil prices strengthened and a banking sector tracking expectations of a US rate rise higher. With an hour to go before the close, the blue chip index was up 1.1% at 6,2
Read moreFinancials lead gains as interest rate curves steepen, pound pops higher
18th May 2016 19:36
(ShareCast News) - Financials led gains in London, over on the Continent and across the Pond too, as interest rate futures continued to progressively - albeit only modestly - price-in a higher probability of a US central bank rate hike in the very near-term, perhaps as soon as the next month. As of
Read moreWednesday newspaper share tips: Legal&General, Inchcape
16th Mar 2016 15:16
(ShareCast News) - Worries surrounding Legal&General's capital position and future dividends appeared to be unjustified, The Times's Tempus said. The insurer's full-year capital surplus, on the basis of the European Solvency II requirements, printed at £5.5bn or about 169% of what it required to sup
Read moreDirector dealing: Prudential and BHP veterans snap up shares
11th Mar 2016 16:10
(ShareCast News) - Following the life insurer Prudential's remarkably strong results on Wednesday, non-executive director Kai Nargolwala showed his belief in the value of the shares at the present level. Nargolwala, who has worked in Asia at director level since the 1990s at Bank of America, Standar
Read moreThursday newspaper share tips: G4S, Prudential
10th Mar 2016 19:03
(ShareCast News) - Three years after rising to the helm of G4S, company chief Ashley Almanza is still promising investors he will fix the balance sheet and shrink a bloated cost base, the Financial Times's Lex column said. During that time, net debt has continued to rise, despite his decision to sel
Read morePrudential declares special dividend and puts Asia fears to bed
9th Mar 2016 08:28
(ShareCast News) - Final results from Prudential showed pre-tax profit falling short of expectations but a bumper dividend and reassuring words from chief executive Mike Wells on the outlook in the UK, US and Asia helped lift the shares on Wednesday morning. Although total revenue fell 31% to £41.3b
Read moreWednesday preview: Prudential reports full year results
8th Mar 2016 12:58
(ShareCast News) - Insurance giant Prudential is expected to report a 14% increase in full year operating profit to £3.64bn on Wednesday. UBS said operating profit in 2015 was likely to have been driven by continued double-digit growth in the Asia business and the US. The Asia division is projected
Read moreFCA to investigate six life insurers over exit fees
3rd Mar 2016 10:16
(ShareCast News) - The Financial Conduct Authority has launched an investigation into six insurers following a review of the fair treatment of long-standing life insurance customers in relation to what they disclose about exit fees. The City regulator said on Thursday that Abbey Life, Countrywide, O
Read moreFTSE 100 movers: StanChart leads market lower on Citi note
3rd Feb 2016 15:54
(ShareCast News) - The FTSE 100 was down again on Wednesday, dropping 78.22 points (1.32%) to 5,843.79 by mid-afternoon. Standard Chartered plunged after Citi lowered its target price on the shares of Asia-focused and commodity-exposed lender. The broker described the lender's valuation at 0.5 times
Read moreBroker tips: Prudential, TalkTalk, Foxtons
3rd Feb 2016 12:40
(ShareCast News) - Barclays and UBS have played down reports that Prudential would be hit by a clampdown on Hong Kong sales of insurance products from mainland China, which sent the shares tumbling 8% on Tuesday. A report from Bloomberg said China's foreign exchange regulator was tightening restric
Read moreBarclays and UBS dismiss Hong Kong concerns over Prudential
3rd Feb 2016 11:35
(ShareCast News) - Barclays and UBS have played down reports that Prudential would be hit by a clampdown on Hong Kong sales of insurance products from mainland China, which sent the shares tumbling 8% on Tuesday. A report from Bloomberg said China's foreign exchange regulator was tightening restrict
Read moreFTSE 100 movers: BP leads market fallers on losses
2nd Feb 2016 14:13
(ShareCast News) - The FTSE 100 was back below 6,000 on Tuesday, dropping 151.22 points (2.5%) to 5,908.88 by mid-afternoon. BP took the biggest hit after $2.6bn of write-downs and restructuring charges sent it crashing into losses for the fourth quarter and full year. A $3.31bn loss was reported f
Read moreFTSE 100 movers: Another Prudential management change leads market down
1st Feb 2016 14:24
(ShareCast News) - The FTSE 100 has started the month on a sour note, with the blue-chip market down 66.82 points (1.10%) to 6,016.97 by mid-afternoon on Monday. Prudential was one of the biggest fallers after the company announced another high-profile departure. Michael McLintock has decided to ret
Read moreM&G Investments poaches Aberdeen's Richards as new chief executive
1st Feb 2016 08:30
(ShareCast News) - Prudential has wooed Aberdeen Asset Management's chief investment officer Anne Richards to take over leading M&G Investments. The FTSE 100 company announced on Monday that Michael McLintock has decided to retire as chief executive of its subsidiary. Richards is currently responsi
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