Prudential strength in Asia offset by weak UK, US markets
6th May 2015 09:35
Prudential reported a drop in first-quarter new business profit Wednesday to £496m from £526m in the same period last year. Although new business profit for Asia increased to £309m from £243m, it was a very different story elsewhere. New business profit in UK retail fell to £34m from £38m, with no U
Read moreTuesday broker round-up
5th May 2015 14:59
Lloyds: Exane, UBS and Jefferies reiterated their buy recommendation, with the latter bumping up its price target to 201p from 88p. BT Group: Credit Suisse reiterates outperform and Barclays its overweight stance, with price targets of 495p and 600p, respectively. Aviva: Barclays ups target to 632p
Read moreBarclays lowers European insurers on capital and earnings headwinds
5th May 2015 09:23
Barclays Capital has lowered its recommendation for the entire European insurance sector from 'neutral' to 'negative'. The broker said companies are facing "significant and growing" capital and earnings headwinds, particularly in parts of the life insurance sector. "These challenges are primarily a
Read morePrudential appoints Mike Wells as new CEO
1st May 2015 13:02
FTSE 100 insurance group Prudential has appointed Mike Wells as its new chief executive from 1 June. Wells, who currently heads the group's US subsidiary Jackson National Life Insurance, will replace outgoing CEO Tidjane Thiam, who announced in March that he would be joining Swiss banking giant Cred
Read moreFTSE 100 movers: HSBC soars on potential high street spin-off, house builders lower
27th Apr 2015 13:27
HSBC surged as reports emerged that it may spin-off its UK high street banking business, ahead of a review of its headquarters' location. Asia-facing bank Standard Chartered, also situated in London, rose on speculation it could follow suit with a move out of the capital. Prudential was making gain
Read moreLondon close: Chinese stimulus lifts stocks despite ongoing Greek uncertainty
20th Apr 2015 16:35
Stocks rebounded on Monday after as measures by policymakers in China to boost bank lending helped to repair sentiment after recent losses, despite ongoing uncertainty in Greece. London's FTSE 100 finished the session 0.82% higher at 7,052.13, with mining stocks leading the rise on increased hopes f
Read moreWednesday newspaper round-up: Business leaders back Tories, Honda, Shell
1st Apr 2015 06:43
100 senior business leaders have signed an open letter throwing their weight behind the Conservative party ahead of the elections in May, warning that a Labour government would "threaten jobs and deter investment" in the UK, writes The Telegraph. Honda has announced a £200m investment in its factory
Read moreFriday broker round-up
27th Mar 2015 16:29
Aviva: Jefferies reiterates buy and ups target to 630p from 608p. RBS: UBS keeps at neutral and trims target to 375p from 386p. ITV: Exane reiterates add and lifts target to 288p from 267p. Wolseley: Exane reiterates underperform and lowers target to 2,660p from 2,730p. Hunting: JP Morgan Cazenov
Read moreFriday broker round-up
20th Mar 2015 15:33
Asos: Citi reiterates neutral. TSB Banking: Numis reiterates hold and 340p target. Aviva: Nomura reiterates buy and lifts target to 690p from 650p. WPP: Morgan Stanley reiterates buy and raises target to 1,625p from 1,400p. Tullow Oil: Barclays reiterates overweight and 550p target. William Hill
Read moreThursday broker round-up
19th Mar 2015 15:59
Smiths Group: Charles Stanley downgrades to reduce while Nomura reiterates buy recommendation. Weir Group: Barclays reiterates equalweight and 1,700p target. Prudential: Barclays reiterates overweight and lifts target to 1,868p. Serco: Jefferies reiterates hold but trims target to 185p from 195p.
Read moreFriday broker round-up
13th Mar 2015 12:06
Poundland: Morgan Stanley lifts target to 280p from 245p and reiterates underweight. Vesuvius: UBS hikes target to 610p from 560p and reiterates buy. Prudential: Credit Suisse raises target to 1,900p from 1,750p and reiterates outperform. BT Group: Berenberg raises target to 570p from 475p and rei
Read moreSocGen calls for quick reaction from Prudential but no change in strategy
11th Mar 2015 12:52
Société Générale called for Prudential to quickly appoint of a replacement for departing chief Tidjane Thiam and said the new man from the Pru should not be tempted to change course, as the existing strategy would deliver sustainable double-digit earnings growth. Maintaining its 'buy' rating, the Fr
Read moreWednesday tips round-up: Prudential, Close Brothers
11th Mar 2015 12:40
Whoever replaces Tidjane Thiam at the helm of Prudential will have a tough act to follow, but he should stick to the game plan. Since being brought on board Thiam managed to constantly confound those who doubted the rationale behind the strategic direction on which he set out. Nonetheless, he manage
Read moreWednesday broker round-up
11th Mar 2015 11:50
Ashtead: Credit Suisse lifts target to 1,300p from 1,220p and reiterates outperform. Cairn Energy: Jefferies lowers target to 172p from 220p and downgrades to hold. RBC downgrades to neutral. Inchcape: Exane BNP reiterates outperform, raises target to 920p from 850p. BG Group: Credit Suisse lowers
Read moreLondon close: FTSE plunges 2.5% to seven-week low as commodity stocks tank
10th Mar 2015 16:33
A stronger US dollar and falling commodity prices led to a rout in the heavyweight energy and mining sectors on Tuesday, pushing the FTSE 100 down 2.5% to its lowest level in seven weeks. The Footsie ended the day down 173.63 points at 6,702.84, with ongoing concerns about Greece further weighing on
Read more