FTSE 100 movers: Fresnillo, Wood Group, G4S
13th Aug 2013 13:00
Fresnillo's shares surged after UBS rated its stocks a 'buy', saying it was well placed to handle the volatility of gold and silver prices by keeping costs down and generating free cash flow. Wood Group rallied after Investec raised its target price to 900p from 800p, noting the company's strong p
Read moreTuesday broker round-up UPDATE
13th Aug 2013 07:45
Aviva: Nomura increases target price from 414p to 474p reiterating its buy recommendation. BBA Aviation: Jefferies raises target price from 290p to 345p and keeps a buy recommendation. Braemar Shipping Services: Westhouse Securities takes target price from 450p to 515p and retains a buy recommenda
Read moreTuesday newspaper round-up: RICS, Blackberry, HP
13th Aug 2013 06:58
The Royal Institution of Chartered Surveyors said house prices rose in July for a fourth consecutive month, marking their fastest growth since November 2006, The Telegraph reported. BlackBerry is selling its struggling smartphone business after attempts to arrest its decline proved futile, The Time
Read moreTuesday tips round-up: Sirius Minerals, St Ives, Prudential
13th Aug 2013 06:49
Sirius Minerals' refinancing should allow the company to begin on its potash mine under the North York Moors National Park. However uncertainties remain including planning permission and pricing pressures, The Times' Tempus column noted. The shares have halved since last month over such concerns. Pr
Read moreLondon close: Markets finish lower despite mining strength
12th Aug 2013 16:44
Markets were choppy on Monday with early gains on the FTSE 100 being erased by the end of trade as traders reacted to mixed newsflow from Asia and Europe. Even a strong performance in the heavyweight mining sector wasn't enough to push the London benchmark into positive territory today, with Financ
Read moreFTSE 100 movers: Prudential lifts H1 profits
12th Aug 2013 15:00
Higher income from the US and growth in Asia boosted first half operating profits at insurer Prudential by 22 per cent to 1.415bn pounds. The shares surged to the highest level since at least 1988 as the group raised its interim dividend 16 per cent to 9.73p per share. Silver miner Fresnillo and Ra
Read moreLondon midday: Markets fall on low volumes, Japan data
12th Aug 2013 11:52
In spite of a decent start, the FTSE 100 had swung into the red by Monday lunchtime, with analysts citing low volumes and weaker-than-expected economic data from Japan. Asian markets were mixed overnight with Chinese benchmarks performing well on an improved outlook in China, while Tokyo's Nikkei w
Read moreBroker tips: Capita, Prudential, Ladbrokes
12th Aug 2013 11:19
Capita was under selling pressure on Monday morning after Citigroup cut its rating for the outsourcing group from 'buy' to 'neutral' on valuation grounds. "Capita has returned to 10-15% PE premium to the sector. While this is below its 20-30% decade-average premium, this seems justified in our view
Read moreBroker snap: Prudential remains Nomura's favoured insurer after strong results
12th Aug 2013 11:10
Nomura has reiterated its 'buy' rating and 1,392p target price for Prudential after the insurer's forecast-beating first-half results on Monday morning, saying that it remains the top pick in the sector. Headline IFRS operating profit came in at £1,415m, up 22% year-on-year and 6.0% ahead of consen
Read morePrudential reports better-than-expected rise in first half profits
12th Aug 2013 11:07
Insurance company Prudential posted a 22 per cent jump in first-half operating profits to 1.415bn pounds, driven by an increase in income in its US operation and growth in Asia. The British firm's shares surged to the highest level since at least 1988 as profits came 6.0% ahead of consensus and as
Read morePrudential agrees to sell life insurance business in Japan
16th Jul 2013 14:38
UK financial services group Prudential has agreed to sell its life insurance business in Japan to SBI holdings. The company will dispose of PCA Life Insurance (PCA Life Japan) for $85m, subject to regulatory approval. Prudential said the proposed sale is consistent with its strategy of allocating
Read moreFTSE 100 movers: Aberdeen, Resolution lead financials higher
12th Jul 2013 14:08
Financial stocks were performing well on Friday with asset manager Aberdeen and insurance group Resolution leading the way after positive comments from analysts. UBS reiterated its 'buy' rating for Aberdeen and added the stock to its 'most preferred' list, saying that the recent share price falls h
Read moreLondon midday: Markets extend gains despite concerns over China
12th Jul 2013 12:11
Strong gains in the financial sectors were lifting markets higher on Friday despite concerns over a slowdown in China, as investors continued to focus on dovish comments from Federal Reserve Chairman Ben Bernanke. Stock futures on Wall Street were pointing to a positive start on Friday, extending g
Read moreBroker tips: Aberdeen, Prudential, Mothercare
12th Jul 2013 12:00
The recent share price fall at Aberdeen Asset Management over the past month has been overdone, according to UBS, which reiterated its 'buy' rating for the stock on Friday. "The market is pricing in outflows in emerging market (EM) equities; while we expect these to have slowed, we note that Aberde
Read moreBroker snap: Nomura names Prudential as top pick in UK life sector
12th Jul 2013 10:45
Nomura has upgraded its rating for insurance and financial services group Prudential by two notches from 'reduce' to 'buy', labelling it as its favoured choice in the UK life sector. In a research report on the wider sector, the broker said that Aviva's dividend earlier in the year has brought 'cas
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