10 Apr 2015 16:03
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Don't have an account? Click here to register.Broker tips: LSE, Hargreaves Lansdown, British Land, Friends Life
Mon, 24th Nov 2014 15:04
Financial services group London Stock Exchange's steady earnings growth, in an environment where most of its peers have suffered earnings downgrades, has seen its stock significantly outperform its peers.Analysts at Citigroup expect the earnings momentum from the company's high-growth businesses, such as LCH Clearnet and FTSE, to continue. Meanwhile, the group's strategic review should see LSE deciding to sell Russell's investment management business, with the remainder of the unit set to be earnings enhancing. Citi's recommendation has been lifted to 'buy' from 'neutral'.After upgrading their rating on Hargreaves Lansdown just last month, analysts at Citigroup have cut the stock from 'neutral' to 'sell' following the recent run in the share price."We upgraded from 'sell' to 'neutral' last month. Recently, however, shares have rallied strongly and there is now 17% downside to our target price," the bank said on Monday, causing the stock to drop sharply. "We move back to 'sell' but make no change to [...] forecasts or 830p target price."Lower UK bond, or Gilt, yields have prompted broker Liberum to lift its net asset value (NAV) forecasts for UK property groups British Land and Land Securities.However, with the stocks already up 20% over 2014 so far, the analysts reckon that these NAV upgrades are already in the price. They said that stock valuations now sit close to NAV, while returns look to peak in 2015. Liberum has downgraded its rating for British Land from 'buy' to 'hold' and has left Land Securities at 'hold'.Canaccord Genuity has lifted its target price for insurance firm Friends Life from 340p to 400p and repeated its 'buy' call, saying that the £5.6bn takeover offer from rival Aviva is a "good price" for shareholders.While they have lifted their target price to equal the possible offer, analysts said they see potential further upside from this level when more details about synergies from the deal are known.
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9 Apr 2015 05:13
8 Apr 2015 15:07
8 Apr 2015 11:01
Friends Life forced to comment on share price drop
On Wednesday morning Friends Life issued a statement saying its stock should not trade ex-dividend ahead of the 9 April Scheme Record Time and Friends Life Dividend Record Date. The company also noted the sharp move in its stock price. In parallel some reports were indicating that the firm had go
Read more1 Apr 2015 13:19
FTSE 100 movers: Shell boosted by Alaskan exploration approval, banks higher
Oil major Shell was making gains after being given the green light by the US government to restart an exploration campaign in the Alaskan Arctic. Imperial Tobacco rebounded from Tuesday's losses, which were driven by concerns that the Lorrillard-Reynolds merger will fall apart. Banks such as Barcla
Read more31 Mar 2015 16:10
Friends Life partnership scheme sells nearly £164m of Aviva shares
The partnership structure created by insurance group Friends Life has sold nearly £164m of shares in UK insurer Aviva, according to a report by Reuters on Tuesday. Dubbed as "Value Share", the partnership structure was created by Friends Life in order to reward its founders. "Value Share" sold 30.8
Read more6 Mar 2015 12:46
FTSE 100 movers: Weir Group up on bid speculation, Miners lower on weak precious metal prices
Shares in British engineering giant Weir Group rose on the back of market chatter that a cash-rich private equity consortium in the US is looking to table a 2,500p per share break-up offer for the group, compared with current prices at around 1,800p. ITV continued higher on Thursday's raised price t
Read more5 Mar 2015 16:24
London close: FTSE jumps to new record high on ECB stimulus
Details of the European Central Bank's (ECB) quantitative easing package helped the FTSE 100 to another record close on Thursday, with financial stocks making solid gains by the end of the session. The Footise finished the day 41.9 points higher (+0.61%) at 6,961.14, surpassing a previous closing re
Read more5 Mar 2015 14:18
Sector movers: Results from Aviva and Friends Life spark surge among life insurers
Insurers Aviva and Friends Life Group (FLG) each jumped over 7% on Thursday as investors celebrated the companies' 2014 results ahead of the proposed merger, giving the life insurance sector a big boost in London. The impressive figures also helped to allay fears across the wider sector, showing tha
Read more5 Mar 2015 12:22
Friends Life lifts profits 38% and hikes divi ahead of proposed Aviva takeover
Ahead of its proposed takeover by larger peer Aviva, insurance group Friends Life Group (FLG) smashed expectations with its 2014 results on Thursday as profits surged and cash generation exceeded guidance. FLG's shares surged in London, buoyed further by forecast-beating full-year numbers from Aviva
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