FTSE 100, Dax and Cac rise as hangover sets in after China stock market crash August 25, 2015 After making its worst losses since 2003 yesterday, the FTSE rose almost three per cent per cent in mid-morning trading, nudging back above 6,000. Meanwhile, the Dax rose 3.2 per cent and the Cac rose 3.1 per cent, suggesting that while European markets were nursing a hangover, the worst may be over. The rebound followed [...]
RSA share price leaps 5.3 per cent as Zurich Insurance Group tables revised £5.6bn offer ahead of takeover deadline August 25, 2015 RSA's share price jumped 5.3 per cent at the open after Zurich Insurance Group revealed a revised offer for the British rival, sneaking in ahead of today's takeover panel deadline. The group is now offering 550p per share in cash for the entire issued ordinary share capital of the insurance firm. That values the [...]
Extractive firms lead UK slump as Shanghai slides – London Report August 25, 2015 THE FTSE 100 slumped 4.7 per cent yesterday to its lowest level in almost three years, with all stocks but one in the red and miners leading the slide on growing fears of a China- led global economic slowdown. The blue-chip index was down 288.78 points at 5,898.87, the worst close since late 2012. The [...]
RSA becomes the only riser on the FTSE as deadline looms for Zurich bid August 24, 2015 RSA became the only riser on the FTSE 100 as the deadline for a bid by rival Zurich loomed. With the cutoff for Zurich to announce its intention to buy the British insurer due at 5pm tomorrow, shares rose 1.5 per cent to 499p in lunchtime trading. If it does not make a formal bid [...]
Global liveability ranking: Melbourne tops the charts again as terror and austerity makes European cities less attractive August 18, 2015 "Liveability" has fallen in cities across Europe, thanks to terror attacks and economic instability, figures published by the Economist showed today. The global liveability index ranked London at 53rd place out of the 140 cities studied. If you want a more pleasant environment, move to Melbourne instead. For the fifth year running, the Australian city [...]
QBE’s David Hall on how insurers are the unsung heroes of major sporting events: “I like to think we are the glue that allows the World Cup to operate” August 9, 2015 For A few short weeks next month, England's rugby team will find itself at the centre of the sporting universe. The World Cup will provide nailbiting thrills and drama, established stars will shine, new stars will burst into life, and seminal moments will be etched into the sport’s history books. Amid this landscape of excitement, [...]
FTSE falls despite rally after Bank’s dovish rate update – London Report August 7, 2015 BRITAIN’S top share index slipped yesterday, weighed down by weakness in miners and insurer RSA, though it briefly rallied off lows after a broadly dovish update from the Bank of England. The FTSE 100 index ended down 5.32 points, or 0.1 per cent lower at 6,747.09 points, turning slightly lower after a negative open on [...]
Hester plays hard to get over Zurich bid for RSA August 7, 2015 RSA BOSS Stephen Hester wants prospective buyer Zurich to put up or shut up, as the insurance giants edge towards a potential merger. The Swiss insurer last week revealed that it is considering making a bid for RSA, and now has until 25 August to make a formal offer, or announce that it has decided [...]
Zurich could “walk away” from RSA as profit rises August 6, 2015 Swiss insurer Zurich's chief exec Martin Senn has told the Financial Times that it could "walk away" from its potential acquisition of UK rival RSA if the deal fails to meet its financial hurdles. The comments were made after RSA surprised the market with a better-than-expected set of results for the first half of this [...]
RSA share price soars 12 per cent after Zurich confirms takeover talks August 3, 2015 Shares in London-listed RSA Insurance Group soared per cent this morning as Swiss rival Zurich confirmed it was considering a takeover bid. Zurich is reportedly mulling a bid in excess of £5.5bn for the business as new rules come in governing how much money insurers must set aside to protect against potential market shocks. [...]