London midday: Old Mutual and miners provide a lift
15th Dec 2011 11:46
The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London's blue chip index 0.6% higher. In domestic news, the volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest da
Read moreWednesday broker round-up - UPDATE
23rd Nov 2011 09:22
Compass: Seymour Pierce reiterates buy rating and 650p target. Compass: Investec maintains buy and 630p target. Compass: Evolution Securities keeps buy rating and 640p target. Meggitt: UBS downgrades from neutral to sell, target cut from 340p to 330p. SABMiller: Investec upgrades from hold to bu
Read moreBroker snap: Prudential to outperform, says Credit Suisse
22nd Nov 2011 12:07
Credit Suisse has reiterated its outperform rating and 888p target price for insurance giant Prudential despite the macroeconomic pressures that are continuing to overshadow operations across the whole industry. In a research note covering the European Insurance industry, the broker says that sees
Read moreLondon close: Financials lower as euro fears persist
14th Nov 2011 16:40
Financials led the decline on Monday, bearing the brunt of Eurozone contagion fears. All eyes were on the bond market as yields on Italian and Spanish debt crept higher. ALL EYES ON BOND MARKETS The Italian Treasury met its target after issuing €3bn in five-year debt today, and while demand improv
Read moreSector movers: Insurers head lower
14th Nov 2011 16:09
Insurers were among the worst performers of the day, as the broader financial sector was weighed down by concerns over rising bond yields in Italy and Spain. FTSE 100 life insurance peers Prudential, Legal & General and Resolution were among the heaviest fallers on the blue chip index, while Phoeni
Read moreWednesday broker round-up - UPDATE
9th Nov 2011 09:58
Admiral: Nomura puts buy rating and 1,900p target under review Admiral: Investec keeps sell rating and 843p target. HSBC: Evolutions Securities keeps sell rating and 650p target. British American Tobacco: Alpha Value downgrades to reduce from add. Regus: Credit Suisse upgrades from neutral to o
Read moreFTSE 100 Movers: Lloyds rises despite £3.9bn loss
8th Nov 2011 12:46
Shares in Lloyds Banking Group surged this morning despite the firm reporting a £3.9bn loss for the first nine months of 2011. Much of the loss - £3.2bn - was down to the bank setting money aside for the mis-selling of payment protection insurance, but its total income for the period also fell 15%
Read moreLondon midday: Lloyds leads the way
8th Nov 2011 12:32
There has been no shortage of company announcements to keep investor occupied while they await the outcome of the keenly awaited vote in the Italian parliament this afternoon, which could determine whether Silvio Berlusconi continues his charmed life as Italian Prime Minister. PUNTERS BACK THE BLAC
Read morePrudential sees record Q3 sales in Asia
8th Nov 2011 09:04
Insurance giant Prudential reported strong profits in the third quarter, driven by expansion of new business in Asia. The firm said it had seen its highest ever third quarter of new business sales in Asia, pushing its shares up 2% in early trading. Excluding India, third quarter sales were up 24%
Read moreTuesday preview: Lloyds, M&S, AB Foods, Prudential
7th Nov 2011 18:03
Temporary chief executive Tim Tookey will no doubt be handling conference call duties on Tuesday after the release of third quarter figures from part-nationalised lender Lloyds Banking. Tookey, the group's chief financial officer, is standing in for António Horta-Osório, while the Portuguese boss re
Read moreLondon close: Late surge propels Footsie 3.7% higher
6th Oct 2011 16:35
The Footsie finished at the highest level of the day, with just four stocks in the red, as gains were built on after the opening bell in New York, which saw stocks rise on the back of a better-than-expected unemployment claims report. It was a busy day on the macroeconomic front with policy rate de
Read moreBroker tips: Insurers, SABMiller, United Utilities
22nd Sep 2011 12:38
Credit Suisse has refreshed its views on the UK life insurance sector, staying positive with an outperform rating on Prudential, saying that it is a "structurally more attractive company given its geographic bias." Aviva is upgraded to outperform, as the broker thinks it has been oversold on Europe
Read moreBroker snap: Prudential, L&G and Aviva to outperform, says Credit Suisse
22nd Sep 2011 12:01
Credit Suisse has refreshed its views on the UK life insurance sector. "Our base case from a macro perspective is that economic growth stalls, interest rates stay low for an extended period and equity markets remain volatile. While this implies a challenging macro backdrop, we are constructive on t
Read morePrudential falls, tracking sector on Wall Street
22nd Sep 2011 10:56
Life insurer Prudential is being hit hard this morning. Interestingly, Reuters cites traders at ETX Capital as linking that fall to those seen last night amongst insurers on Wall Street. According to them, "Operation Twist" could threaten the earnings of some of the country's largest insurers for ye
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
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