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Nomura has highlighted Legal & General (L&G) as its preference in the UK insurance sector, saying that it has higher cash yields than peers Aviva, Prudential and Standard Life. "We estimate that L&G still has the highest cash yield of 10% in the sector, measured against our FY 2011 cash earnings fo
14 Feb 12 09:56Industrial property firm Segro and Moorfield Real Estate Fund have together, through their recently established joint venture (JV), completed the acquisition of the UK Logistics Fund from Hermes Real Estate Investment Management, Legal & General and LaSalle Investment Management. The move marks a s
1 Feb 12 07:50Footsie limped back above the 5,400 level in thin trade, with financial stocks leading the way. OLD MUTUAL SURGES AFTER DISPOSAL South African savings and insurance group Old Mutual was the best performing blue-chip after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in
15 Dec 11 16:56Life insurance stocks were on the rise on Thursday afternoon, helped by FTSE 100 savings, investment and insurance group Old Mutual. Shares in Old Mutual roared higher on Thursday after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in an effort to "reduce complexity" and p
15 Dec 11 15:01Old Mutual, the savings and investment group, leapt into the top spot on news it is to sell its Nordic business Skandia AB for £2.1bn in an effort to "reduce complexity" and pay down debt. The deal, which still needs regulatory and shareholder approval, is expected to complete during the first quar
15 Dec 11 14:36Legal & General's vice chairman and senior indepedent director Henry Staunton purchased over £10,000-worth of shares, one month after the firm reported a slight drop in sales. Staunton, who was appointed to the board in 2004, bought 9,708 shares at 105.60p each for a total of £10,252. At the sta
2 Dec 11 14:58Financials 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
14 Nov 11 16:40Insurers 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
14 Nov 11 16:09The Ministry of Defence will this week award contracts worth up to £420m to Interserve to maintain four overseas military bases. The group will provide electrical, mechanical and building services for bases in Cyprus, Ascension Island, Gibraltar and the Falkland Islands, where Prince William is to s
13 Nov 11 15:35The Independent looks at Randgold Resources which issued a management statement yesterday and was one of the FTSE 100's biggest climbers. The numbers for the third quarter were impressive with a huge rise in revenues and profits over the equivalent period of 2010. That said, there are a few dark clo
3 Nov 11 09:20G4S: Credit Suisse upgrades from neutral to outperform, target raised from 240p to 285p. Standard Chartered: Evolution Securities downgrades from buy to neutral, target unchanged at 1,800p. Standard Chartered: Nomura maintains buy rating and 1,800p target. Next: Investec places 2,350p target unde
2 Nov 11 09:51With a surprise referendum vote on the Greek bail-out announced, a mass sell-off was seen in stock markets across the globe on Tuesday, not helped by some worrying manufacturing data at home and away. The Footsie may have finished some 78 points off its intraday lows, but that wasn't enough to pul
1 Nov 11 16:47Man Group was heading lower despite Credit Suisse reiterating its outperform rating and 235p target on the stock. The stock has been contaminated by association with its former subsidiary, US futures broker MF Global, which applied for bankruptcy yesterday. Barclays was close behind after UBS downg
1 Nov 11 13:57News that Greece is to hold a referendum on its latest bailout package and some worrying economic data at home and away rattled the markets on Tuesday, with the Footsie dropping close to 3%, while other European benchmarks fell by between 4% and 5%. GREEK REFERENDUM SCARES MARKETS The decision by
1 Nov 11 12:02Man Group: Credit Suisse reiterates outperform rating and 235p target. Barclays: UBS downgrades from buy to neutral, target raised from 208p to 215p. Barclays: Investec keeps buy rating and 330p target. Legal & General: Nomura keeps buy rating and 180p target. Legal & General: Investec keeps sel
1 Nov 11 09:33
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