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LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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Legal & General Group said Non-Executive Director Julia Wilson bought shares as the company's cautiously upbeat outlook led to concern among investors about the blow UK pension funds may face from the Brexit.
Wilson bought 7,320 shares at 206.068 pence each on Tuesday.
Legal & General Group on Tuesday said operating profit grew in the first half of 2016 and assets under management increased. The blue-chip insurer expressed confidence in navigating through any Brexit-driven challenges despite not being immune to them.
The investment manager and life insurer said operating profit for the first half to the end June was GBP777.0 million, up 4.0% year-on-year from GBP750.0 million a year prior.
"There are many different views of the outlook for economic growth, the state of financial markets and political uncertainty, we reflect this in our approach to risk management," said Chief Executive Nigel Wilson.
"While we cannot be immune to this uncertainty, we remain confident that we will continue to deliver attractive returns for shareholders, great value to customers and better outcomes for society," Wilson added.
The stock closed up 2.3% at 210.68p one of the best performers in the FTSE 100, Wednesday.
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Unilever said Kees Kruythoff, president of its North America region, sold 10,000 shares at a price of 3,566.10 pence per share on Wednesday. The deal is worth GBP356,610. Shares in the fast-moving consumer goods company closed down 0.6% at 3,551.95p Wednesday.
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Betting chain Ladbrokes said Chairman John Kelly bought 19,400 shares at a price of 152.8 pence per share Wednesday. Ladbrokes last Thursday said it swung to a profit in the first half of 2016 as favourable betting results helped to boost revenue, but the FTSE 250 bookmaker kept its interim dividend flat on the prior year. The company said it made a pretax profit of GBP25.2 million in the six months to June 30, having suffered a pretax loss of GBP51.4 million in the first half of 2015. The stock closed down 1.3% at 149.50p Wednesday.
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U & I Group said Deputy Chief Executive Richard Upton bought 46,012 shares at 161.5 pence each on Wednesday. Shares in the property regeneration company closed up 0.3% at 165.50p Wednesday.
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Gresham House said Finance Director Kevin Acton bought 1,587 shares at a price of 314.2 pence per share on July 29. Gresham House, the AIM-listed money manager, in April hired Acton, previously of Los Angeles-based investment company Oaktree Capital Management and FTSE 100 private equity firm 3i Group. Gresham House is one of the oldest companies on the London Stock Exchange, first listing in 1950 and becoming an investment trust 16 years later. In 2014, it moved to AIM from the London Main Market and dumped its investment trust status. The stock closed up 0.4% at 321.12p Wednesday.
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French Connection Group said Non-Executive Director Christos Angelides bought 20,000 shares at a price of 40 pence per share Tuesday. Following the purchase, Angelides now holds 120,000 shares, representing 0.1% of the issued share capital. Shares in the high-street fashion retailer closed down 0.7% at 40.46p Wednesday.
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SRT Marine Systems said Non-Executive Director Andrew Lapping bought 20,000 shares at a price of 48.4 pence per share Tuesday. Following this acquisition, Lapping holds 1.2 million shares, representing a 0.97% stake in the marine radio communications group. The stock closed down 1.2% at 49.88p Wednesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
28 Apr 2022 06:22
Britain proposes post-Brexit changes to insurer capital rules
LONDON, April 28 (Reuters) - Britain launched on Thursday a public consultation for a post-Brexit relaxation of capital rules for insurers in a step the government said would increase investments in long-term infrastructure.
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