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The FTSE 100 has continued diving and now looks in danger of dipping below the 5,000 point mark as comments from the US Federal Reserve last night continue to jangle nerves. Miners Xstrata and Kazakhmys are now posting double-digit percentage losses. Luxury fashion group Burberry is also nursing he
Read moreCredit 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 moreBurberry: 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
Read moreStocks have come in for heavy selling in early dealings after the US Federal Reserve yesterday painted a gloomy picture of the growth prospects for the world's largest economy. "Information received since the Federal Open Market Committee met in August indicates that economic growth remains slow,"
Read moreTraders are strapping on their tin hats in expectation of a barrage of sell orders after the US Federal Reserve yesterday painted a gloomy picture of the growth prospects for the world's largest economy. "Information received since the Federal Open Market Committee met in August indicates that econ
Read moreTim Breedon, chief executive of the insurance group Legal & General, is to retire from the company at the end of next year. Breedon, who is chairman of the Association of British Insurers, took up his current post at the start of 2006. "It has been an absolute privilege to lead Legal & General, b
Read moreFollowing a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreThe top share index remains a few points in the red, with all eyes on Greece ahead of the sticken Eurozone member's announcement of austerity measures. Greece's foreign minister Stavros Lambrinidis has assured that the country will stay in the euro and not default. "For the past year and a half I'
Read moreInmarsat: Citi downgrades to hold from buy. Inmarsat: Morgan Stanley downgrades to underweight from neutral. Imperial Tobbacco: Investec retains buy. Carnival: Credit Suisse confirms neutral rating and 2,357p target. Drax: Credit Suisse cuts target from 400p to 350p, underperform rating maintain
Read moreMarkets opened lower on Wednesday morning on the back of ongoing concerns over the Eurozone, despite a Greek official assuring that the country will not default. Meanwhile, investors in London await the release of the policy rate decision from the Bank of England's Monetary Policy Committee (MPC) du
Read moreFollowing a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreThe phenomenon that is Rightmove chalked up another rock-solid performance in the six months to June. The online property advertising platform seems unstoppable. The shares are a strong hold, even on a gloomy view of the economy and the housing market. Investors of a more sunny disposition should bu
Read moreStocks were posting triple-digit losses at the finish, with the FTSE 100 at its lowest closing level for the year so far as worries over global growth intensified. Things got worse after a poor start in the US, where yesterday's deficit-cutting agreement among politicians has done little to assuage
Read moreNomura has kept its buy rating and 180p target price on insurer Legal & General, saying that its valuation remains "compelling". The firm reported on Wednesday that net cash earnings grew by 14% to £427m, driven by its 'capital light' operations with 30% growth in investment management and a 53% im
Read moreInsurance group Legal & General upped its dividend by a quarter in the first half, despite recording a £64m fall in pre-tax profits. Shares fell 1.73% lower to 107.80p at 09:54 on Wednesday morning. The firm paid out £97m to investors by way of an interim dividend, which was raised by 25% from 1.3
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