Hints and tips:
...For S&N it all boils down to 2020 adjusted trading profit of $1,218bn to US$1.241bn versus a consensus of $1.243bn, so hardly a warning at all....
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...Intraday In the US, the S&P 500 is set to climb the same amount when trading starts in New York....
...Sompo Japan Insurance is the largest unit of NKSJ Holdings, the country’s third biggest property and casualty (P&C) insurer by market value....
...According to bankers, N&P could also be a target for new entrants looking to establish themselves in the banking market, such as NBNK, a venture that has been set up by Lord Levene, the head of the Lloyd...
...Capita rose 2.9 per cent to 718½p on hopes that it will sign up F&C Asset Management as a new customer. F&C said last week that it was close to selecting a back-office outsourcing partner....
...RollsRoyce closed up 6.5 per cent at 520½p and S&N was 4.3 per cent higher at 660p....
...Friends Provident, the life assurer, dipped 3 per cent to 116.1p, in spite of talk that it was set to dispose of its holding in F&C Asset Management, off 2 per cent at 155¾p....
...Shares in Northern Rock fell 12½p, to 172p....
...On the downside, Resolution, the closed life fund consolidation vehicle, faded0.4 per cent to 668½p on concerns that it could be dragged into a bidding war for Abbey Life, the insurer owned by Lloyds TSB...
...Substantial upgrades for insurance brokers Jardine Lloyd Thompson and Benfield sent their shares up 9 per cent to 485p and 3.4 per cent to 323½p respectively....
...The judging panel for the 2005 Award is: Lloyd C....
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