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- Profit to be towards or slightly above the upper end of current market expectations
- Strong capital generation leaving pre-dividend solvency capital ratio around 205%
Sabre is scheduled to present its audited full year results for 2023 on 19 March 2024.
A Mayfair fund has taken a £120m stake in ITV as the broadcaster grapples with a deep advertising downturn and slump in its market value. Silchester International Investors has become one of ITV's largest shareholders after snapping up a 5pc stake in the business. The media-shy fund, which has also built a £500m stake in advertising giant WPP, states that its investment philosophy is to identify fairly valued businesses "capable of increasing earnings, assets and dividends by their own efforts". - Telegraph
Sharecast News) - Legal & General was under the cosh on Friday as Citi cut its 2023 earnings per share estimates and opened a 30-day 'negative catalyst watch' on the shares ahead of full-year results on 6 March.
The bank cut its 2023 EPS estimate by around 27%, primarily driven by negative investment variances but said its operating profit estimate also declined, by around 3%.
"There is some follow to the outer years as our EPS estimates decline by circa 10%," it said.
Citi said it expects material EPS downgrades into results "and although this is primarily investment variance driven, this highlights the opacity of Legal & General Capital (LGC) and comes against a backdrop of L&G being the best performing UK life insurer over the past three months and what we see as limited upside capital return surprise potential".
Figures released earlier by Halifax showed that house prices rose in January for the fourth month in a row, as mortgage rates fell.
House prices were up 1.3% on the month following a 1.1% increase in December 2023.
On the year, prices rose 2.5% in January following a 1.8% jump the month before. This marked the highest annual growth since January 2023.
The average UK home now costs £291,029, up from 287,244.