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Negative Points: The insurer said it now expects 2013 return on equity to be below 10%. Initial early estimates of the net loss across the group's UK, Scandinavian and Baltics business following the October windstorm is £45 million to £65 million. The Group's underwriting profit was also affected by other extreme weather events in 2013. In August, RSA's Canadian business was affected by the worst Canadian natural catastrophe on record in June, in Alberta (RSA net loss: £46m), and the third worst on record in July, in Toronto and the surrounding areas (RSA net loss: £37m). Competition within the group's core UK home market remains intense. A highly competitive market in recent years saw many players slash rates to maintain market share, which the industry claims led to unsustainably low rates that are now rising to more normal levels. The insurance industry is vulnerable to risks arising from exposure to bond markets, movements in interest rates, along with foreign currency exchange rate fluctuation. RSA has ongoing exposure to potential weather and catastrophe losses.

Financial Highlights: RSA reported a 7% rise in net written premiums to £6.7 billion broken down as follows: Scandinavia flat at £1.48 billion, Canada up 14% to £1.34 billion, Emerging Markets up 17% to £1.03 billion and UK & Western Europe up 3% at £2.83 billion. Management confirmed that investment income remained comfortably on track at around £470 million.

Third quarter interim management statement: In contrast to a good set of interim results in August, the insurer warned that losses caused by the severe weather seen in Europe and Canada are "materially above assumptions". As a result, full year returns to shareholders are likely to suffer. The announcement saw the share price fall as much as 7% in early morning trade. "We now expect 2013 return on equity to be below 10%" RSA said in a statement. RSA added that its initial estimates on the net loss across its UK, Scandinavian and Baltics businesses as a result of the October storm will fall between £45 - £65 million. Net losses in Canada, (Alberta and Toronto) as outlined in its interim results in August have reached £83 million. On the upside, the insurer has seen its net written premiums rise 7% over the first three quarters of 2013, and it remained on track to post £470 million in full year investment income.

Positive Points: The relatively new Chief Executive has announced a number of initiatives, including increased investment in customer services and the sale of non-core businesses. A number of non-core businesses have been sold, with the group highlighting "35 businesses to grow, restructure or recycle capital." An increased focus on disciplined financial management is also being adopted. The group's balance sheet has been strengthened through the placing of up to approximately 140.9 million new ordinary shares representing up to 9.99% of the company's existing issued share capital. Management previously noted that "balance sheet repair is required to reduce the current high level of gearing (Net Debt/EBITDA of 3.2x at 30 June 2013) in order to provide greater flexibility to invest in the business and to reduce the risk of a credit downgrade and its associated cost." Developing or emerging markets grew on an organic basis by 14% for the nine month period. Despite the Olympics fiasco, the company commenced new contracts of £200 million annual value with the UK government during 2012. Management changes have been made. The appointment of Adam Crozier of both Royal Mail and ITV fame was previously announced. Ashley Almanza, former CFO of BG Group is now the group's Chief Executive, whilst the newly announced Chief Financial Officer has come from Misys and has previous experience at both BT Group and Logica. The half year dividend payment was held. G4S is a major global security company, with operations in more than 115 countries.

Negative Points: Management announced investment of between £15 million and £20 million in customer service and generating organic growth - a likely drag on earnings during the next financial year. The company highlighted "challenging market conditions in Europe and lower US federal government spending which has affected our secure solutions and systems businesses." On 4 November, the UK government's SFO notified the company that it opened an investigation into the provision of electronic monitoring services which commenced in April 2005. In the wake of the Olympics fiasco, the company's reputation has arguably been damaged. The Olympics problems dominated the 2012 full year results. "The proposed closure of 30 prisons and other cost reductions by the Netherlands Ministry of Justice will have a significant negative impact on the group's Dutch business which provides staff to the prisons" management previously noted. The company is exposed to foreign exchange risk.

Trading and strategy update: The news failed to inspire, with the share price down over 3% in early stockmarket trading. Whilst trends from the first half of 2013 had broadly continued into the third quarter, additional investments announced going forward were considered by analysts to provide a likely drag on earnings during the next financial year. Management announced investment of between £15 million and £20 million in customer service and generating organic growth. Furthermore, the strategic update provided no surprises in terms of speculated business disposals. Nonetheless, the board had identified 35 businesses to grow, restructure or recycle capital. Increased disciplined financial management is being adopted, whilst management noted that "the global security market has strong structural growth characteristics. According to Freedonia 2013, the global security market is expected to grow 7.3% between 2011 and 2016 with high single digit/double digit growth in emerging markets where G4S has a unique established position" - the company's emerging markets businesses currently accounts for more than 40% of group profits. In all, tough trading conditions in Europe and the US, along with uncertainties such as the UK government's investigation into the provision of electronic monitoring services, currently weigh against management initiatives and growth generated in the emerging markets,

Positive Points: Management noted that "We continue to see signs of recovery in the UK economy with a series of positive retail sales figures and improved consumer sentiment influenced by the better housing market and reduced expectations of unemployment. Occupiers are beginning to show more confidence, with continued strong demand from catering and leisure operators and successful retailers taking the opportunity to upsize." 57 long term leases were signed in the quarter; in aggregate £11 million of annual rent and 8% above previous passing rent (like-for-like units). This brought the total for the year to date to 152 leases producing £33 million of new annual rent, 4% above previous passing rent. The group highlighted that "we have made considerable progress with projects across the portfolio. Planning applications have been approved for new restaurants at intu Eldon Square, intu Bromley and intu Victoria Centre and we have made applications for major leisure and catering extensions at intu Watford and intu Lakeside." Funding for its £1 billion pipeline of projects will include recycling of existing assets as well as the possible introduction of partners into major assets. The dividend payment of over 4% (as of 05Nov2013 - not guaranteed) remains attractive in the current low interest rate environment.

Negative Points: The occupancy rate remained unchanged from June (2013) at 95% by rent, including 1% of rent currently being traded by administrators. Half year net rental income across the Intu estate fell marginally on the same period in 2012, falling from £182 million to £181 million. Half year underlying or adjusted earnings declined to 7.4 pence from 8.1 pence in H1 2012. Intu has a UK investment programme of £1 billion over the next ten years on active management projects and major extensions at most of its centres. The cost of the investment/development programme is currently being carried. Inflation continues to outpace wage growth in the UK, leaving consumer incomes pressured. The impact of the internet on the traditional retailing industry provides medium to longer term uncertainties.

Third quarter trading update: The announcement saw the company (formerly known as Capital Shopping Centres) highlighting "continuing signs of improvement in the UK consumer environment", although the occupancy rate remained unchanged from June (2013) at 95% by rent. The share price drifted lower (-1.8%) in midday trading. Some 57 long term leases were signed in the quarter, generating in aggregate £11 million of annual rent - 8% above previous passing rent on a like-for-like units basis. Five significant transactions were signed in the period to introduce flagship retailers with a view to improving the rental tone over the medium term. As for development activity, management noted that "funding for our £1 billion pipeline of projects will include recycling of existing assets as well as the possible introduction of partners into major assets." In all, with the company currently undertaking development in order to generate rental growth going forward, earnings are seen as remaining under pressure

Positive Points: The insurer reported growth in all of its principal business areas. In total, LGIM achieved net inflows of £3.1 billion in the quarter helping to increase LGIM assets under management to £443 billion. The insurer has pursued a strategy of bolt on acquisitions, the most recent of which was the £151 million purchase of annuity firm Lucida. Other acquisitions in the year to date include Cofunds, an online investment platform, and a stake in Cala homes. Cofunds achieved net inflows of £3.3 billion in Q3, and as a result, assets under management on the platform increased to £58.3 billion. Gross inflows from International clients were £6.9 billion and helped to advance international assets to £57 billion.

Negative Points: The group lacks the scale of Asian geographical exposure currently enjoyed by rival Prudential. Asian and Emerging Market economies have been growing faster than Western counterparts. Changes in regulation or legislation may have a detrimental effect on the group's strategy or profitability. In line with the broader industry, there are risks arising from exposure to bond markets, movements in interest rates, along with foreign currency exchange rate fluctuation.

Financial Highlights: Total gross inflows in the quarter were up 71% to £15.4 billion (Q3 2012 - £9 billion). Legal & General said operational cash generation was up 11% to £780 million in the first nine months of the year. Year-to-date annuity premiums were up 174% to £3.7 billion. Overall, assets under management rose 2.3% to £443 billion.

Third quarter interim management statement: Legal & General reported another strong quarter with all divisions contributing to growth. Within its investment arm LGIM, gross inflows swelled to £15.4 billion in the quarter, a 71% increase year-on-year. Year to date gross LGIM inflows were up 65% to £42.1 billion, putting total assets under management at £443 billion. Gross inflows from International clients were £6.9 billion with strong inflows seen from the Gulf, US and Europe, including adding £2.9 billion of assets from Legal & General France (LGF). International assets now total £57 billion. The insurer's retail business continued to benefit from the growth in retail passive funds, due to greater pricing transparency following the implementation of the Retail Distribution Review (RDR) and pricing action taken earlier in the year, it added in a statement. Elsewhere, Legal & General Retirement segment (LGR) said year-to-date annuity premiums rose to £3.7 billion from £1.3 billion last year. Nigel Wilson, Group CEO, said: "Another strong quarter for Legal & General with gross inflows and premiums well ahead of 2012. All divisions contributed to our broad-based growth. We are executing well and at pace; four acquisitions have been successfully completed and net cash is up 20%"

Another blue day.....

best rise weve had here for a while may it continue....and only 9m shares on offer

Good start lets see if it can keep some of the rise today gl all.

Positive Points: For the year to date, copper production was 538,300 tonnes, a 4.4% increase versus the same period in 2012. Forecast group production for 2013 remains unchanged at 700,000 tonnes of copper, 280,000 ounces of gold and 8,000 tonnes of molybdenum. Previous accompanying management outlook comments noted that "we remain focused on cost control, advancing our current projects and maintaining a strong balance sheet while being alert to opportunities that may arise." In terms of group growth opportunities, management previously highlighted that "in the longer-term, there are several very large scale growth opportunities, including potential for stand-alone plants at the Esperanza Sur and Encuentro sulphides deposits, and major expansion of Los Pelambres." Antofagasta is one of the most important conglomerates in Chile with equity participation in Antofagasta Minerals, the railroad from Antofagasta to Bolivia, and other investments worldwide. At its half year results, group net cash rose by 12.5% to $1.5 billion. The dividend payment per share was increased by 4.7%.

Negative Points: Copper production for the third quarter declined by 3.4%, primarily due to lower grades across its operations. Group gold production declined by 11.7%. At the half year results, group revenue declined by 12.1% to $2.77 billion, whist adjusted earnings (EBITDA) declined by 31.2% to $1.27 billion. Half year results saw group costs increasing by 9.3% compared to the previous half year period as higher energy costs at its Los Pelambres operations impacted. The copper price remains something of a barometer for the health of the global economy. Accompanying management outlook comments previously noted that "With new copper supply coming online during the remainder of this year and demand growth largely dependent on the economies of China and the United States, the pricing environment for copper is expected to remain challenging." The group has high exposure to the copper price. Over 80% of total group revenue during the 2012 financial year came from copper. Other miners such as BHP Billiton enjoy greater commodity diversification. Chile lies along a major earthquake fault line. The company is exposed to declining grades, water availability, labour instability and cost inflation.

While management noted that "the group remains on-track to achieve production and net cash costs for the full year 2013", copper production for the period declined by 3.4%, primarily due to lower grades across its operations. For the year to date, copper production was 538,300 tonnes, a 4.4% increase versus the same period in 2012, primarily reflecting the improved operational performance at its Esperanza operation. Group gold production declined by 11.7% to 67,700 ounces in the quarter

Positive Points: Meggitt previously acquired Californian based Pacific Scientific (PacSci) for $685 million in 2011. Management highlighted that "the integration of Pacific Scientific Aerospace was fully completed with total synergies of $25 million having been achieved against an original target of $18 million. The Group reported that it continues to invest significantly in site consolidations, capacity expansion and new product development work following recent significant programme wins. Meggitt Production Systems in particular was seeing tangible improvements in quality and delivery. Meggitt acquired Piezotech for $42 million in the period. The group's financial position was reported as "strong" by management in the announcement.