Phoenix Group Holdings (PHNX)

The FTSE 100 opens 12.45 points higher at 7,395 despite many global equity markets being in the red. The main US exchanges all finished down while the only Asian exchange to move up was Hong Kong’s Hang Seng. Heading UK corporate news is a profit warning from high street favourite Dixons Carphone (DC.). Its shares slide by 27.3% to 171.1p on releasing a worrying trading update for the 13 ...

UK investors may feel there are more questions than answers as we hurtle towards Brexit and detailed negotiations on a deal with Europe. That won’t change in the short-term regardless of the outcome of today’s General Election and the identity of the next government. That suggests, in our opinion, that buying market experience into your portfolio could be a sensible move, and few fund managers ...

A lot of people moan about how difficult it is to get a decent income from the market, but is it really that hard? The FTSE 100 index currently yields 3.86%, so you can buy a low-cost tracker fund and get that level of income with relative ease. Getting a higher level of income is also fairly easy if you do some research. This article discusses the stocks, ETFs and funds with the potential ...

Rebounding miners helped lift the FTSE 100 on Tuesday, the index rising 0.5% to 7023.32 after a positive session on Wall Street last night. Wealth manager St James’s Place (SJP) gains 5.2% to 998p as it reports third quarter assets up 8.9% thanks to market gains and robust demand for its advice in the wake of the Brexit vote. Costa Coffee and Premier Inn operator Whitbread (WTB) slumps ...

Life insurance investor Phoenix (PHNX) has agreed to buy Deutsche Bank’s UK life business in a deal worth almost half its market cap. Phoenix, which specialises in buying life insurance books closed to new business, will spend £935 million on Abbey Life Assurance. This could prove a shrewd move by the group at a time when investment returns are typically depressed by low interest ...

Investors are relieved that Royal Bank of Scotland (RBS) has agreed a settlement over claims it mis-sold toxic mortgage-backed securities in the run up to the financial crisis in 2008. It will pay $1.1 billion which it says is ‘substantially covered by existing provisions’. The shares rise 1.2% to 176.62p. Parcel delivery group UK Mail (UKM) has received a 440p takeover bid from Deutsche ...

Online gambling group GVC (GVC) says it is reaping the benefits of previous brand investment by Bwin.Party, the rival operator it acquired at the start of 2016. GVC implies Bwin’s brands are now strong enough to cut back on big sponsorship and brand spend, in line with its leaner approach to marketing. ‘Having their name on Real Madrid shirts in the past has certainly help build up the ...

Firmer metal prices help miners to early gains in London as the FTSE 100 treads water ahead of a speech by Federal Reserve chair Janet Yellen this evening. A second reading of US first quarter GDP at 12.30 BST could provide some clues on Yellen's outlook for interest rates in an address which is scheduled after markets close in the US. Overnight, stocks gained in Tokyo and Hong Kong but fell ...

London stocks make modest gains in early trade on Friday as the market mulls over a busy week that included central bank policy decisions, a raft of economic data and the UK Budget 2016. The FTSE 100 nudges 30-odd points higher to 6,229, with midcaps and smaller companies running higher by similar margins. Foods-to-fashion conglomerate Associated British Foods (ABF) firms 15.5p to ...

It’s that time of the year when many people’s thoughts have turned to self-improvement. Let’s join the gym, avoid the pub and buy a self-help book in the hope that this year will be different. Come March or April, we’re all back to our old habits. It’s a different situation in the corporate world. The mantra of ‘self-help’ is a key driver for earnings and share prices that runs ...

London shares continue to sink in early trade on Thursday as US interest rate hawks appear to hold the upper hand, spooking investors on both sides of the pond, and across Europe. The FTSE 100 index dips 33 points, or about 0.5%, to 6,369, although a number of FTSE 100 companies went ex-dividend, shaving 5.4 points off the benchmark and explaining some of the early losses. Declines were heavier ...

655.5p Gain to date: 3.0% Closed-life fund consolidator Phoenix (PHNX) expects to come through this summer’s industry regulatory review unscathed. We remain bullish on the buyer of life insurance funds that no longer accept new business, despite it losing 13% of its value following the Financial Conduct Authority’s (FCA) shock announcement (28 Mar) that it is looking into how ...

Insurers have been hit by reports that the UK financial regulator is to investigate historical product mis-selling allegations. Some £150 billion of policies may come under review, which could result in savers transferring their pensions and other investments into better deals without paying any exit fees if the Financial Conduct Authority (FCA) uncovers evidence that people were exploited by ...

Better-than-expected interim results from housebuilder Bellway (BWY) sends its share price up 3.7% to £16.67. The £2 billion cap reports a 25% increase in volumes to 3,245 homes sold in the period. Stockbroker Davy doesn't believe such volume growth will be repeated in the second-half but it does push through upgrades to margin estimates. Operating margins came in at 15.6% versus 12.8% a year ...

Energy groups come under pressure after weekend speculation that the government could force major suppliers to break-up in order to increase competition. But Centrica (CNA) and SSE (SSE) recover from early selling, down barely barely 1% a piece to 333.9p and £14.87 respectively.   Having fallen by more than 12% at the market open, the drop in Diploma's (DPLM) share price is pared back ...

On a quiet day for corporate news, with weak miners offsetting strength in banks, investors raise a glass to Stock Spirits' (STCK) admission to trading on the London Stock Exchange's (LSE) main market. Frothing up 4p to 232p early on, the branded spirits producer boasts the largest market share for spirits in Poland and the Czech Republic. Guided by chief executive Christopher Heath, the ambitious ...

Life insurer Phoenix (PHNX) climbs 2.7% to 765.7p after increasing its interim dividend by 27% to 26.7p per share. This came despite the Jersey-registered company’s taxable losses widening to £41 million from £3 million year-on-year. Phoenix, a running Shares Play of the Week, is funding its shareholder returns from the £416 million cash made in the six months to July. Management expect to ...

London's FTSE 100 looked on course to finish the week with a flourish, racking up a 33.4 point gain to 6,576.85 by midday on Friday with comments from Federal Reserve chairman Ben Bernanke that the US economy still needs monetary stimulus engendering positive sentiment among investors.   Excitement surrounding potential corporate activity was a key theme for the day, with life insurer ...

A deal to re-term it debt means closed life and pension fund consolidator Phoenix Group’s (PHNX) dividend appears safe this year despite the difficult conditions which face the life insurance industry overall. Low investment returns and a series of natural disasters last year, including floods in the UK and earthquakes in Italy, have forced some big names to re-appraise their dividend ...

On a relatively-quiet day for corporate news, the FTSE 100 advanced 12 points higher to 6,472. Among the big risers were resource stocks including the first day's trading from the newly-merged copper-to-coal producer Glencore Xstrata (GLEN), up 3.9% to 343.95p.   The market latched onto improved performance from Man’s (EMG) flagship AHL fund, with the stock up 9.3% to 116p, helped ...