ANALYST VIEWS: WHAT DO YOU THINK OF AVIVA’S RESULTS? August 5, 2010 BARRIE CORNES | PANMURE GORDON These were great figures pretty much across the board. The life operation was the star performer, driven in part by improving new business margins – specifically in the UK, where the 3.4 per cent margin was very impressive and benefited from a favourable product mix, with a shift to annuities [...]
FTSE ends lower as Barclays leads banking sector retreat August 5, 2010 BRITAIN’S top shares closed down yesterday, with Barclays leading banking shares lower after it posted first-half numbers and downbeat US weekly jobless claims data later in the day only adding to the downward pressure. The FTSE 100 closed down 20.38 points, or 0.4 per cent, at 5,365.78, having fallen back from a session high of [...]
Double champ Farah targets African elite August 5, 2010 LONG distance king Mo Farah insists his European double gold is just the kick-start he needs for a crack at the Africans. The 27-year-old won the hearts of the nation last week by leading Great Britain to a best ever European Championships campaign with gold in both the 5,000m and 10,000m in Barcelona. Despite earning [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2010 THE SUNDAYS The Sunday Telegraph INVESTORS DEMAND ETHICS AUDIT New rules should be introduced that would increase the cost of capital for companies with controversial environmental and human rights records, according to one of Britain’s largest investors. Steve Waygood, chief of sustainability research at Aviva Investors, said: “If companies were forced to publish long-term data [...]
Insurers set to raise dividends in results week August 1, 2010 THE INSURANCE sector earnings season is expected to deliver growing profits and dividend increases this week, though uncertainty over new European rules could dampen forecasts, according to analysts. Legal & General is set to kick off on Wednesday with a widely tipped dividend rise. Analysts have forecast operating profits of up to £412m for the [...]
CITY MOVES | WHO’S SWITCHING JOBS August 1, 2010 Association of British Insurers Alain Dromer will join the ABI’s investment committee as chairman on 15 September. Dromer, who is currently chief executive of Aviva Investors, takes over the position from Keith Skeoch, who has spent three years in office. Dromer has also spent time as head of global investment at HSBC, head of insurance [...]
EARNINGS SEASON | CALENDAR August 1, 2010 Monday 2 August Xchanging – UK Thomas Cook – UK Hammerson – UK Tullett Prebon – UK HSBC – UK Intertek – UK Mouchel – UK Qinetiq – UK Berkshire Hathaway – US Warner Music Group – US Linde – Germany BNP Paribas – France Air Liquide – France Tuesday 3 August ITV – UK [...]
CITY MOVES | WHO’S SWITCHING JOBS July 29, 2010 RBC Wealth Management The wealth manager has promoted Philip Harris to the position of head of private client wealth management for the British Isles. Harris has been at the firm since early last year, when he joined to create a domestic wealth management business. He previously founded financial advisory business Scott Goodman Harris, which was [...]
CITY VIEWS: HAS THE CITY STARTED TO QUIETEN DOWN IN THE SUMMER? July 26, 2010 RACHEL NEWTON | BREWIN DOLPHIN “I think people have become more optimistic as the weather has improved. But until the government’s spending review comes out in the autumn there’s still going to be a lot of uncertainty in the City. In the public sector too, people still seem anxious about spending cuts.” RUSSELL LAMB | [...]
CITY MOVES | WHO’S SWITCHING JOBS July 20, 2010 XENFIN CAPITAL The systematic trading firm has hired Luca Rubinelli to head up its new fixed income trading arm. Rubinelli joins from a family office, where he was a multi-asset portfolio manager on the proprietary trading desk. Prior to that, he was a director at Société Générale in the derivatives solutions group and also held [...]