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Pin to quick picksLegal & General Share News (LGEN)

Share Price Information for Legal & General (LGEN)

London Stock Exchange
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Share Price: 248.00
Bid: 247.70
Ask: 247.80
Change: 1.40 (0.57%)
Spread: 0.10 (0.04%)
Open: 247.00
High: 248.90
Low: 246.20
Prev. Close: 246.60
LGEN Live PriceLast checked at -

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Legal & General cash machine delivers bumper Q3

Tue, 05th Nov 2013 08:00

- AuM up 2.3 per cent- Gross inflows accelerate- 'Growing momentum' in outlookCash generation continued to swell at Legal & General as gross inflows accelerated in the third quarter.Total assets under management rose 2.3% to £443bn, as gross inflows of 71% in the quarter lifted year-to-date inflows to 65%.International inflows were strong, with good contributions from the Gulf, US and Europe, including adding £2.9bn of assets from Legal & General France.The FTSE 100 group said its retail business continued to benefit from the growth in retail passive funds, due to greater pricing transparency following the government's implementation of the Retail Distribution Review (RDR) and pricing action taken earlier in the year.On pricing, Chief Executive Nigel Wilson challenged the government and the industry over workplace pensions charging, saying the group had capped auto-enrolment pension charges at 50 basis points (bps)."The government's proposed 75bps cap needs to be strengthened in our opinion: Reducing it to 50bps could benefit pension savers by tens of thousands of pounds over a working lifetime."Even after four acquisitions, net cash has risen 20% in the year to date as L&G enjoyed improved cash generation from each of the Annuities, UK Protection, Insured Savings and With-profits businesses, while LGIM and General Insurance both made a strong contribution to operational cash generation.The assurance business delivered premiums well ahead of 2012, with retail protection sales up 11% boosted by the UK housing market and continuing to trade well in October.Overall, Wilson lauded the group's broad-based growth and said the outlook was very robust."We see growing momentum in the business, driven by our strategic responses to five growth macro trends: homogenous asset markets and international investment management; ageing populations and retirement solutions; digital lifestyles requiring digital solutions; welfare reform which creates opportunities for pensions and protection; and bank retrenchment which is creating direct investment opportunities."OH
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30 Jan 2023 08:57

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(Alliance News) - Stock prices in London opened lower on Monday morning, amid market caution at the start of an important week for interest rate decisions by the world's top central banks.

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30 Jan 2023 08:28

TOP NEWS: Legal & General Wilson to retire as CEO after over 10 years

(Alliance News) - Legal & General Group PLC on Monday said Chief Executive Nigel Wilson plans to step down, after more than a decade in post.

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30 Jan 2023 08:06

L&G chief executive Nigel Wilson to retire

(Sharecast News) - Legal & General said on Monday that Sir Nigel Wilson is planning to retire after more than a decade as chief executive.

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30 Jan 2023 07:55

LONDON BRIEFING: Unilever hires dairyman as CEO; Wilson to depart L&G

(Alliance News) - Stocks in London are set to open lower on Monday, as investors look ahead to three key interest-rate decisions this week.

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24 Jan 2023 11:45

JPMorgan-backed Smart Pension to raise more than 100 mln stg in equity -sources

LONDON, Jan 24 (Reuters) - Smart Pension, a British pension services provider backed by JPMorgan and Legal & General, is in discussions with investors to raise more than 100 million pounds ($123.13 million) worth of equity capital, two sources close to the matter told Reuters.

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23 Jan 2023 10:37

Glass Lewis recommends vote against Capricorn board, NewMed merger

Big question mark over Capricorn's planned merger with NewMed

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23 Jan 2023 09:20

Legal & General Chair John Kingman to become chair of Barclays Bank UK

(Alliance News) - Barclays PLC and Legal & General Group PLC on Monday said L&G Chair John Kingman will join the board of Barclays as a non-executive director on June 1 and will become the next chair of Barclays Bank UK PLC.

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16 Jan 2023 15:48

L&G plans to vote against Capricorn leadership and NewMed merger

LONDON, Jan 16 (Reuters) - Asset manager Legal & General plans to take the rare step of voting to oust energy group Capricorn's senior leadership and halt its planned merger with NewMed, according to a company document seen by Reuters.

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10 Jan 2023 10:11

LONDON BROKER RATINGS: Jefferies likes Inchcape; HSBC cuts Clarkson

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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6 Dec 2022 10:26

LONDON BROKER RATINGS: JPMorgan cuts Lloyds but raises Barclays

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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23 Nov 2022 13:32

Investors back call for UK firms to support low-paid workers

Aviva Investors, LGIM among those to join campaign

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21 Nov 2022 10:09

LONDON BROKER RATINGS: Panmure and Goldman Sachs cut boohoo from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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18 Nov 2022 16:58

LONDON MARKET CLOSE: FTSE 100 gains capped by falling oil prices

(Alliance News) - Stock prices in London closed higher on Friday, but falling prices hit oil majors, keeping a lid on the FTSE 100's progress.

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18 Nov 2022 12:18

LONDON MARKET MIDDAY: Stocks pick up and pound firms against dollar

(Alliance News) - Stocks in London were higher by midday on Friday, managing to shake off a gloomy economic backdrop, while the pound got a boost from market acceptance of Thursday's UK government budget.

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18 Nov 2022 09:09

LONDON MARKET OPEN: FTSE 100 looks to end week on high note

(Alliance News) - Stock prices in London opened mixed on Friday, amid economic gloom in the UK, despite new data showing slight improvements in retail sales and consumer confidence.

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