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Stocks 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
Read moreBanks results season continues with emerging markets-focused Standard Chartered shuffling into the spotlight on Wednesday at the unholy time of 5:30am (London time). Japanese broker Nomura - quite possibly the only broker likely to be awake when the figures come out - predicts first half profit bef
Read moreThe financial sector was mixed on Friday, despite rising strongly early on following yesterday's Eurozone deal to bailout Greece. Shares soared on Thursday after the region's leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. While RBS bucked the tre
Read moreLondon equities rallied to a strong finish - recouping the losses experienced over the last week - on hopes of a solution to the sovereign debt crisis in Europe. At midday, shares offset early losses as reports surfaced that Europe's leaders have agreed on a new aid package for Greece and an overh
Read moreThe Footsie dropped over 1% lower on Monday as satellite broadcaster British Sky Broadcasting (BSkyB) and European debt-contagion fears weighed on sentiment. Shares of BSkyB took a tumble as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was pre
Read moreShares of BSkyB dropped by6% and was the top loser on the blue chip index on Monday as the potential takeover by Rupert Murdoch's News Corp hangs in the balance. The UK government said it was preparing to ask telecoms regulator Ofcom for additional advice. The Australian government's proposal on cl
Read moreThe life insurance sector is being boosted higher by the blue chips today, after Resolution announced a share repurchase. UK insurance buyout firm Resolution was the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' r
Read moreUK insurance buyout firm Resolution is the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' recommendation on the stock, saying that - given lower asset and debt leverage - "the Resolution business should be at a premi
Read moreMiner Antofagasta is leading the decline on Wednesday after reporting production figures that missed expectations. Group copper production for the first three months of the year came in at 129,800 tonnes, below forecasts of 158,800 tonnes, reflecting delays and lower-than-budgeted grades at two of i
Read moreCredit Suisse keeps its 'outperform' rating on Whitbread, but slashes its target price from 2,230p to 1,992p, after a cautious outlook alongside its full year results. Credit Suisse said that the Costa Coffee and Premier Inn owner reported "solid" figures for the year ended 3 March, but issued caut
Read moreLegal & General was one of the strongest performing stocks on the FTSE 100 during the first three months of the year, and Panmure Gordon expects the good performance to continue based on the insurance titan's attractive valuation. The broker said new business sales were "impressive" with life and p
Read moreFirst quarter sales at insurance titan Legal & General came in below expectations, but cash generation was strong and ahead of target. Worldwide sales on an annualised premium equivalent (APE) basis in the first quarter rose 12% to £433m from £388m the year before, but were below market expectation
Read moreAccountancy software firm Sage releases its interim results on Wednesday amid slight concerns that small to medium sized enterprises might be taking longer to upgrade their Sage products than has been the case in the past, as they wait to see whether the economic recovery is sustained. Matrix Group
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