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Underwriter Chaucer has reported a 3% dip in first quarter total gross written premium income to £250.1m, which KBC Peel Hunt said shows discipline. "Despite a high level of losses to the Chilean and Deepwater catastrophes in Q1, the tone of Chaucer's IMS is positive," said the broker. "The group i
Read moreImpax, the investment manager focused on environmental sector, saw its assets under management rise by 40% in the six months to March 31 as markets improved. 'Evidence of improving macroeconomic conditions, particularly in the United States and in the Asia-Pacific region, has resulted in continued
Read moreCobham trades on a surprisingly thin multiple of 11.6 times Evolution's forecasts for 2010. That falls to 10.8 times on the numbers for 2011, suggesting that the market may be pricing in too much disappointment while at the same time overlooking the potential for growth. The Independent said buy in
Read moreTechMARK is dominated by pharma companies who have disappointed the market in the past week. Antisoma and Vernalis continue their declines. Shares in cancer drug developer Antisoma plunged following news that Novartis has halted a Phase III trial for lung cancer treatment ASA404. Vernalis was hit
Read moreDisappointing results from the IN-STEP Phase IIb study for the safety and efficacy of V3381 (indantadol) hit the Vernalis share price. The study was of patients with neuropathic pain due to diabetes. The indantadol study showed a 25% reduction in pain scores but the placebo also showed a reduction
Read moreEngineering design software provider Aveva is rising on the back of yesterday's upgrade by broker Panmure Gordon. The broker has not touched the forecast for the year to March 2010 but it has increased its 2010-11 earnings per share forecast from 55.6p a share to 58.7p a share. This is based on re
Read morePharma company Vernalis will receive a $3m milestone payment from Novartis following the commencement of a phase II study of one of its cancer drugs. The milestone payment was "triggered by the first dosing in a Phase II proof of concept clinical trial of AUY-922, an Hsp90 inhibitor, in a range of
Read moreMalcolm Calvert, formerly a partner at blue-blooded stockbroker Cazenove, has been sentenced to 21 months in jail for insider dealing offences. The 65-year-old was found guilty yesterday of passing confidential takeover information on to an accomplice, Bertie Hatcher, who then profited by trading s
Read moreShares in electronic components supplier e2v Technologies perked up following last Friday's announcement that its chairman had increased his stake in the company. This comes at a time when e2v has been hit by industrial strife at its Grenoble facility. It anticipates that this will reduce turnover
Read moreProperty fund manager Capital & Regional reports valuations in the UK fund businesses, particularly in retail warehouses, are trending higher in the fourth quarter. This reflects the strength of the investment market which is likely for the balance of this year to outweigh pressure on income. C&R
Read moreInnovation leapt to its highest since September last year after the property and insurance software group admitted it received a 16p-a-share bid in August. The company said the unsolicited approach from US outsourcing firm, EXL Service Holdings Inc, regarding a possible cash offer contained pre-con
Read moreAnite is one of the main fallers after it warned that profit in the first half is expected to be significantly lower than the record profits that were reported in the prior year. The group said the current trading year has been challenging, with less favourable currency movements and seasonality
Read moreFootsie fell back in the afternoon session after the Bank of England increased its quantitative easing programme, but still finished healthily in the blue. Banks continued to rise with Royal Bank of Scotland, Lloyds Banking and Barclays all up. RBS reports its interim figures tomorrow. It is being
Read moreDrug developer Vernalis has signed an exclusive collaboration, option and license agreement with GlaxoSmithKline relating to a Vernalis research programme against an undisclosed oncology target. Under the terms of the deal, Vernalis will receive $6m upon signing (including a $3m equity subscriptio
Read moreIrish drug firm Elan saw net losses narrow to $68.2m from $71.5m in the second quarter thanks to a rise in revenues. Revenues were up by 14%, led by a 30% increase in sales from Tysabri and a 10% increase in revenues from EDT. "For the full year 2009, we remain on target to record double-digit re
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