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Sector movers: Financials, insurers pace gains as interest rates rise

Thu, 09th Feb 2017 16:07

(ShareCast News) - Interest rate sensitive stocks such as life insurers and banks recovered some of their poise as government bond yields bounced back from their recent lows.Significantly, traders cited comments from US president Trump during the afternoon saying he would have "something phenomenal" on taxes over the next two to three weeks as a reason for the uptick in 'risk appetite'.Thus, as of 1638 GMT the yield on the benchmark 10-year US Treasury was moving higher by five basis points to 2.38%, alongside a bounce of three basis points to 1.24% for similarly-dated Gilts.Close behind were shares in the oil majors such as BP and Royal Dutch Shell as crude oil futures advanced.Miners on the other hand were knocked back as the US dollar continued to gain altitude again, acting as a drag on prices for precious metals.Copper futures were also lower, with March 2017 COMEX copper retreating 0.56% to $2.6515 a pound, even as workers at the largest copper mine in the world, Escondida, in Chile, made preparations to go on strike.Top performing sectors so far todayMobile Telecommunications 4,463.28 +1.47%Life Insurance 7,884.12 +1.32%Oil & Gas Producers 7,970.11 +1.29%Banks 4,375.83 +1.28%Forestry & Paper 19,313.05 +1.24%Bottom performing sectors so far todayGeneral Industrials 5,911.55 -1.60%Mining 16,165.33 -0.94%Food Producers & Processors 7,598.64 -0.84%Electronic & Electrical Equipment 5,234.22 -0.67%Industrial Engineering 10,891.08 -0.66%
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8 Aug 2016 16:59

India's HDFC Life reaches deal with Max Life to create $10 bln insurer

* Companies agree terms of share swap * Relative valuation of HDFC Life 69 pct, Max Life 31 pct * Deal to create top Indian private life insurer By Devidutta Tripathy MUMBAI, Aug 8 (Reuters) - India's HDFC Standard Life Insurance Co Ltd reached agreement on Monday to take

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8 Aug 2016 13:30

Tuesday preview: Standard Life reports first half interims

(ShareCast News) - Investment giant Standard Life reports its first half interims on Tuesday with analysts pencilling in flat operating profit. UBS expects operating profit of £294m, up 1% compared to the same period a year ago, driven by the Standard Life Investments business. The bank said invest

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21 Jul 2016 08:31

BROKER RATINGS SUMMARY: Credit Suisse Cuts United Utilities To Neutral

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17 Jul 2016 12:22

Sunday share tips: Gulf Keystone Petroleum, Marks & Spencer, Lloyds Banking

(ShareCast News) - Gulf Keystone Petroleum shares could be worth buying, said the Sunday Times' Inside the City column, if shareholders vote to accept a debt restructuring deal that will leave them just 14% of the embattled oil producer. Shares in the Kurdistan-focused company last week dipped below

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11 Jul 2016 09:41

Aberdeen UK property fund set to reopen on Monday

(ShareCast News) - Aberdeen Asset Management expected to reopen its £3.2bn UK property fund on Monday after outflows slowed and some investors opted not to sell, company chief Martin Gilbert said. In an interview with Bloomberg TV Gilbert said "Our intention is to open today as long as investors hav

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6 Jul 2016 20:05

UPDATE 4-Number of UK property funds suspended since Brexit vote doubles

* Henderson, Threadneedle, Canada Life funds suspended * Follow M&G, Standard Life Investments, Aviva Investors * Financial service complaints body says 'troubled' * GRAPHIC - Major UK property funds http://reut.rs/29ig4Lf (Adds temporary suspension by Aberdeen Asset Managemen

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6 Jul 2016 16:31

Three more property funds titans freeze redemptions

(ShareCast News) - Henderson Global Investors, Canada Life and Columbia Threadneedle have joined the queue of property funds suspending trading amid acute Brexit fears, lining up behind Aviva, M&G and Standard Life. "Over half of the property fund sector is now on ice, and will remain so until manag

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6 Jul 2016 15:00

TOP NEWS: Henderson Is Latest To Suspend Property Fund Trading

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6 Jul 2016 14:36

UK financial services complaints body "troubled" by funds suspensions

LONDON, July 6 (Reuters) - Britain's financial services complaints body said on Wednesday the suspension of three property funds this week was "quite troubling" and consumers were already getting in touch with it. The three UK funds faced a wave of investors asking for their money back as u

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5 Jul 2016 20:25

WRAPUP 6-May leads three-horse PM race as Brexit hits pound and property

(Adds candidate Crabb withdrawing) * May and Leadsom lead in first ballot of Conservative MPs * Justice minister Gove still in contention * Process lasts till September, economic worries pressing * Pound hits new 31-year low * Three property funds suspend trading

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5 Jul 2016 18:29

Prudential's M&G Becomes Third Firm To Suspend Property Fund Trading

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5 Jul 2016 17:05

UPDATE 2-Bank of England takes steps as Brexit risks appear, pound falls

* BoE gives banks more room to lend * More time for insurers to adjust to EU rules * Sterling renews fall after fund closures * Banks says strong on capital, liquidity - Osborne (Adds suspension of M&G real estate fund, updates market prices) By David Milliken and Huw Jo

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5 Jul 2016 16:28

UPDATE 3-Three UK property funds halt trade in first sign of post-Brexit seize-up

* REITs, housebuilders, asset managers, insurers all hit * Follows decision by three funds to stop investors leaving * BoE flags concerns; investors fear crisis re-run (Adds more detail on fund performance, bank holdings, background, updates shares) By Simon Jessop, Vikram Sub

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5 Jul 2016 16:18

UPDATE 5-Sterling slides to new 31-year low on Brexit worries

(Updates with fresh lows, M&G property fund freeze) By Jemima Kelly and Anirban Nag LONDON, July 5 (Reuters) - Sterling slumped 2 percent to hit a 31-year low against the dollar and a 2-1/2-year trough against the euro on Tuesday as investors worried about the economic and financial f

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5 Jul 2016 16:01

LONDON MARKET CLOSE: Shares Mixed As Pound Falls To Near USD1.30

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