Legal & General Share News (LGEN)

- Legal and General jumps five per cent after solid 2011- Majority of US banks pass stress tests- Osborne considering 100-year giltsLondon's blue chips rose strongly on Wednesday morning, led by financial stocks, following on from a surge on Wall Street last night. The Footsie opened up at levels not seen since last summer.Last night, the US Federal Open Market Committee (FOMC ) said it would maintain exceptionally low interest rates until the end of 2014 because the unemployment rate remains at high levels, economic growth in coming quarters will be moderate and there are still significant risks to economic forecasts. Meanwhile, 15 of the 19 major banks in the US passed the Fed's stress tests and would be able to maintain capital levels above the minimum requirement in a worst-case scenario.In domestic news, Chancellor George Osborne is reported to be launching a new 100-year, or even perpetual, gilt as part of next week's 2012 Budget, in an attempt to "lock in" the benefits of the UK's low borrowing costs and its international 'safe-haven' status.As for the Eurozone, Fitch last night upgraded its rating for Greece out of default territory following the largest sovereign debt restructuring in history last week. LEGAL & GENERAL LEADS FINANCIALS HIGHERInsurance group Legal & General led the risers early on after all four operating business divisions delivered increased sales, cash generation and profits in 2011. The full-year dividend was increased by 35%.Financial stocks were dominating the top spots on the risers list: Barclays, Man Group, Royal Bank of Scotland, Lloyds, Aviva and Prudential rose strongly.Africa-focused oil and gas giant Tullow Oil was also a high riser after pre-tax profits broke through the billion dollar barrier in 2011, helped by a ramp-up in production and higher commodity prices. Pre-tax profit jumped 499% to $1,073m on sales that rose 111% to a record $2,304m.Hammerson and Meggitt were heavy fallers after both stocks went ex-dividend.Medical devices and airport scanners maker Smiths Group after its interim results disappointed. Revenue rose 3% (+1% on an underlying basis), while pre-tax profits improved by 2%, but the operating margin declined slightly. The group assured that it was a "resilient performance in a difficult trading environment".FTSE 250: YULE CATTO JUMPS ON STRONG PROFITSShares in Yule Catto, the Essex headquartered polymer business, jumped this morning after it announced it had doubled profits in 2011. The price was also boosted by the firm saying it had enjoyed a solid start to 2012. Underlying profit before tax at the firm was up 99% to £84.8m in 2011, largely due to its PolymerLatex acquisition in March, which doubled the size of the business. Building products distributor SIG rose strongly after capping a strong year with a 27% jump in profits in 2011, as it benefitted from improved trading conditions. Meanwhile, bakery and hot snacks retailer Greggs fell after reporting that 2012 got off to a slow start. Meanwhile, sales growth in 2011 was a bit more than the market expected after a strong finish to the year while the profit before tax figure was a tad under-baked. BCFTSE 100 - RisersLegal & General Group (LGEN) 131.50p +4.95%Barclays (BARC) 248.05p +3.55%Prudential (PRU) 787.00p +3.15%Resolution Ltd. (RSL) 275.30p +2.30%Man Group (EMG) 142.20p +1.94%Lloyds Banking Group (LLOY) 35.23p +1.81%Tullow Oil (TLW) 1,479.00p +1.72%Essar Energy (ESSR) 112.50p +1.63%Royal Bank of Scotland Group (RBS) 26.17p +1.59%International Consolidated Airlines Group SA (IAG) 173.00p +1.53%FTSE 100 - FallersSmiths Group (SMIN) 1,070.00p -2.82%G4S (GFS) 277.70p -2.05%Polymetal International (POLY) 993.00p -1.68%Meggitt (MGGT) 402.90p -1.27%Randgold Resources Ltd. (RRS) 7,030.00p -1.13%Hammerson (HMSO) 424.40p -1.07%Kazakhmys (KAZ) 976.00p -1.01%Burberry Group (BRBY) 1,557.00p -0.95%Hargreaves Lansdown (HL.) 476.00p -0.90%BHP Billiton (BLT) 2,030.50p -0.81%FTSE 250 - RisersYule Catto & Co (YULC) 228.00p +8.57%Home Retail Group (HOME) 115.60p +5.09%SIG (SHI) 120.50p +4.33%SVG Capital (SVI) 288.00p +3.23%Henderson Group (HGG) 122.70p +3.11%Telecom Plus (TEP) 677.50p +2.65%AZ Electronic Materials SA (DI) (AZEM) 303.80p +2.64%Brown (N.) Group (BWNG) 237.60p +2.46%Senior (SNR) 195.40p +2.30%International Personal Finance (IPF) 259.30p +2.21%FTSE 250 - FallersGreggs (GRG) 543.50p -2.60%Temple Bar Inv Trust (TMPL) 949.00p -2.16%Impax Environmental Markets (IEM) 101.30p -1.94%BH Global Ltd. USD Shares (BHGU) 11.71 -1.84%Fidelity European Values (FEV) 1,131.00p -1.82%Rotork (ROR) 2,023.00p -1.75%Ladbrokes (LAD) 159.20p -1.61%Allied Gold Mining (ALD) 122.30p -1.61%TR Property Inv Trust Sigma Shares (TRYS) 71.05p -1.32%Betfair Group (BET) 875.00p -1.30%