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It seems very strange today, someone is buying 100 shares in every few minutes, so far 65 x 100 shares, but it helps the share price. Keep it going!
We estimate its [Legal & General’s] earnings are likely to be boosted by around 20% compared with other non-UK insurers over the next two years as it uses its credit provision to offset credit losses. Aviva and Prudential are also likely to benefit, although to a smaller extent (Aviva by 6% and Prudential by 10%) since they have material un-provisioned credit exposure outside their UK annuity books in their foreign operations.’ Nomura has also upgraded Friends Provident, to ‘neutral’, following the bid from Resolution.
Wed 02 Sep 2009 LONDON (SHARECAST) - Insurers were out of favour on Wednesday morning on balance sheet concerns but Japanese broker Numura believes these fears have been overdone. Nomura argues that in its panic over ‘the threat Solvency 2 may pose to UK annuity reserving’ the market has overlooked the fact that UK firms have ‘already taken significant credit provisions for their UK annuity books. In contrast, other European and US insurers have no credit provisions.’ The broker notes that Aviva, Friends Provident, Legal & General and Prudential have between them established £4.2bn of credit provisions to cover £50bn of annuity liabilities. ‘Since most of the credit risk in the UK insurance sector is concentrated in annuity products, we estimate that the UK insurers' annuity provisions are likely to insulate them from the majority of credit losses over the medium term,’ Nomura said. Nomura identifies Legal & General as the stock most weighed down by capital adequacy and risk management (Solvency 2) regulatory concerns and, given that it regards these fears as being overdone, it has upgraded the stock to ‘buy’. ‘We estimate its [Legal & General’s] earnings are likely to be boosted by around 20% compared with other non-UK insurers over the next two years as it uses its credit provision to offset credit losses. Aviva and Prudential are also likely to benefit, although to a s
Absolutely, but I am sure they will buy some more at this level to lower their average purchase price, that will help the share price.
These people know share more than us, they own 58% of CKSN. Standard Life Investment Limited 30,703,370 @£80,442,829 Standard Life Group 30,110,867 @£78,890,472 Lloyds Banking Group plc 16,388,620 £42,938,184 BlackRock, Inc 14,868,315 @£38,954,985 Aegon UK Group of Companies 14,143,831@£37,056,837 Schroder Investment Management Ltd 14,084,695@£36,901,901 FIL Limited 11,596,056@£30,381,667 Legal & General Group Plc (L&G) 10,900,429 @£28,559,124 Aviva 10,729,257@£28,110,653 JPMorgan Chase & Co 6,874,385@£18,010,889
AT 12:04 CKSN Director Barry Perry brought 1980 shares @ £2.50 = £4950
Watch the video. See: http://www.citywire.co.uk/personal/-/video/week-in-investment/content.aspx?ID=344740&re=5832&ea=209261