Hiscox warns on impact of mild storms November 8, 2010 BERMUDA-based insurer Hiscox saw premiums remain largely flat in its third quarter trading update but warned that pricing pressure later this year will come to bear, particularly in the US. The firm yesterday blamed a lack of severe summer hurricanes for the likelihood of hot competition during the January policy renewal period. In years with [...]
Hiscox warns on impact of mild storms November 8, 2010 BERMUDA-based insurer Hiscox saw premiums remain largely flat in its third quarter trading update but warned that pricing pressure later this year will come to bear, particularly in the US. The firm yesterday blamed a lack of severe summer hurricanes for the likelihood of hot competition during the January policy renewal period. In years with [...]
BHP moves on from Potash takeover bid November 15, 2010 MINING giant BHP Billiton’s shares rose yesterday following its decision to abandon its hostile takeover of Potash Corp and begin a $4.2bn (£2.6bn) share buyback, as analysts pored over the world’s largest mining group’s next move. BHP’s London-listed shares closed 1.8 per cent up at £24.06, outperforming a 0.4 per cent gain in the FTSE [...]
FTSE 100 gets a US boost to close at a four-month high September 20, 2010 Britain’s leading share index extended early gains to close strongly yesterday, after US market bulls helped London to its highest close since late April. The FTSE 100 closed up 94.09 points, or 1.7 per cent, at 5,602.54, more than reversing the 0.6 per cent decline in Friday’s session after risk appetite made a strong return. [...]
FTSE led lower as Smiths Group and banks fall despite gains by Unilever September 27, 2010 THE FTSE 100 closed down 25.06 points, or 0.5 per cent, at 5,573.42, after gaining 1.6 per cent last week, with Smiths Group out of favour while Unilever rose after a US acquisition. Broker recommendation and target price changes were behind some of the individual equity moves. Smiths shed 1.6 per cent after Bank of [...]
Firms fail on reporting standards March 21, 2010 The majority of FTSE 350 firms are failing to provide clear enough information when reporting, leading problems with communication with investors, suppliers and customers, a new report from PricewaterhouseCoopers has found. The report said firms concentrate too hard on “box-ticking” when it comes to regulatory reporting requirements, but are not releasing enough clear-cut detail on [...]
Weaker dollar is behind the mining sector rally March 29, 2010 IT IS a sign of the optimism flooding the mining sector at the moment that Rio Tinto’s share price was able to rise yesterday even as a Chinese court jailed four of its staff for between seven and 14 years for taking bribes and stealing commercial secrets. The heavyweight miner was able to shrug off [...]
Pension deficits fell in 2009 March 8, 2010 Pension deficits fell among UK firms during 2009, but the overall improvement masks yawning liabilities at some notable names including British Airways, research to be published today will show. The report by consultants Hymans Robertson on the ability of FTSE 350 companies to support their pension schemes shows the median deficit fell to 6p per [...]
UK bank stocks are attractive but precarious June 2, 2010 COMPARED to some of the financial institutions in continental Europe, Britain’s banks, even the part-nationalised ones, are managing to exude an air of respectability and even strength. While French and German financial institutions – banks and insurers – are estimated by Barclays Capital to hold just under €80bn of Greek debt, British banks have minimal [...]
Weir expands Indian business September 2, 2010 ENGINEERING company Weir Group expanded its presence in the Indian market with the purchase of BDK Engineering Industries yesterday. BDK specialises in valve manufacturing for energy sectors, and is based in the southern state of Karnataka and generated £20.9m in the year to March, with gross assets of £16.7m. The firm did not disclose the [...]