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FTSE 100 movers: Insurers please market

Thu, 05th Aug 2010 15:40

Strong results from insurers are offsetting disappointing figures from other Footsie companies. Aviva reported a better-than-expected 21% rise in its half-year profit, while RSA Insurance Group announced revenue growth in all geographic regions and a 'resilient underwriting result' in what was a tough first half for the insurance industry.Aviva increased its interim dividend by 6% to 9.5p a share. RSA upped its dividend by 7% to 3.12p a share. Fund manager Schroders revealed funds under management at the end of June were £164bn, up from £148.4bn at the end of 2009. Pre-tax profit increased more than five-fold to £188.2m, from £36.3m, and more than doubled after stripping out one-off costs last year. The one weak spot was the private banking business where profits fell to £6.6m from £14.9m hit by lower interest income and a £4.7m bad debt.Medical devices firm Smith & Nephew posted a 7% rise in second quarter trading profit and expects further progress in the second half.Defence and aerospace firm Cobham is being hit by delays in defence projects at a time when commercial revenues are weak. Cobham is hopeful that projects will start in the second half of 2010 but commercial revenues are likely to be flat. Pre-tax profits for the first half of 2010 were £97m, down from £139m, even though revenues increased to £963m from £952m.Randgold Resources is down even thoug it posted a sharp rise in profits in the second quarter of 2010, despite lower production, on higher gold prices. Randgold upped its production target for a mine that is developing ahead of schedule. Anglo-Dutch household goods conglomerate Unilever is lower after it saw volume growth slow in the second quarter and said it expects the trading environment to remain difficult for the rest of the year. The company announced second quarter turnover of €11.75bn, up 12% (3% using constant exchange rates).FTSE 100 - RisersAviva (AV.) 391.10p +6.31%RSA Insurance Group (RSA) 134.40p +4.59%Schroders (SDR) 1,390.00p +3.89%Schroders NV (SDRC) 1,139.00p +3.17%Lloyds Banking Group (LLOY) 76.51p +2.71%Eurasian Natural Resources (ENRC) 986.00p +2.44%Smith & Nephew (SN.) 573.00p +2.32%Prudential (PRU) 580.50p +2.11%Old Mutual (OML) 124.10p +2.06%ARM Holdings (ARM) 322.00p +2.06%FTSE 100 - FallersCobham (COB) 223.70p -6.79%Randgold Resources (RRS) 5,435.00p -4.90%Unilever (ULVR) 1,743.00p -4.81%Fresnillo (FRES) 1,047.00p -4.64%Barclays (BARC) 324.15p -4.62%Whitbread (WTB) 1,403.00p -2.37%Reckitt Benckiser Group (RB.) 3,100.00p -2.02%Cairn Energy (CNE) 465.20p -1.92%Compass Group (CPG) 538.50p -1.91%BG Group (BG.) 1,020.50p -1.87%
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1 Jul 2010 13:57

FTSE 100 movers: Investment managers decline

Footsie remains lower with financials heading the losers. This is because of concerns of a slow-down at Barclays Capital (BarCap) investment management arm. Barclays said BarCap had seen weaker trading conditions in the past two months. Schroders and Investec are also well down on the back of this

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6 May 2010 15:33

FTSE 100 movers: Banks lead market down

Banks are leading Footsie downwards after ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, Lloyds, HSBC and even Asia-focused Standard Chartered fell sharply after Moody's said banks in the UK, as well as in Ireland, Italy, Portu

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1 Apr 2010 11:20

Home Retail boss opens Hammerson account

Terry Duddy, chief executive of Argos and Homebase owner Home Retail Group, has opened his account at Hammerson having joined the board of the shopping centre operator in December. He took 20,000 shares at 394p a time in his first purchase of shares in the company, paying a total of £78,800. In a

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10 Mar 2010 16:19

FTSE 100 movers: Footsie ahead despite ex-dividends

Resources companies and banks are heading the risers on the Footsie, while the forward momentum has been held back by a raft of companies going ex-dividend. Rising copper prices have boosted the shares of Fresnillo, Eurasian Natural Resources and Xstrata. RBS upgraded oil services provider Petro

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4 Mar 2010 16:05

FTSE 100 movers: Results dominate index

A mixed bag of results dominate the main movers in the Footsie. The bright spot was fund manager Schroders. Net new business inflows jumped to £15bn in 2009 compared with net outflows of £9.6bn in 2008, while funds under management ended the year at £148.4bn versus £110.2bn a year earlier. Total p

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17 Nov 2009 15:51

Schroders executives pocket option gains

Two executive directors of asset manager Schroders have taken up options and sold most of them for large profits. Chief executive Michael Dobson took up options over 1,802,033 non-voting shares, of which 906,285 were at nil cost and the rest at prices of 705p, 483p and 398p a share. The total cost

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29 Jul 2009 11:32

FTSE 100 movers: Schroders leads the pack

Fund manager Schroders leads the FTSE 100 higher after saying it is seeing strong demand for its European corporate bond product, prompting Morgan Stanley to upgrade the stock. Rexam is the heaviest faller. The packaging giant's well -flagged right issue has been launched with the firm looking to r

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24 Jul 2009 17:13

London close: Ten out of ten for Footsie

The FTSE 100 index made it ten days of rises in a row, despite tailing off towards the close as investors looked to bank profits ahead of the week-end. It capped the best rally by the blue-chip index in five years. The rise was achieved despite dismal gross domestic product data. UK output contract

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24 Jul 2009 14:11

London afternoon: Financials find favour

Footsie eased back a little over the lunchtime session but thanks to firm financials the blue-chip index continues to shrug off this morning's gloomy data on gross domestic product (GDP). UK output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Of

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