|Bid||686.10 x 101600|
|Ask||686.20 x 59000|
|Day's range||683.00 - 688.70|
|52-week range||537.50 - 735.20|
|Beta (3Y monthly)||0.64|
|PE ratio (TTM)||10.30|
|Earnings date||7 Aug 2019|
|Forward dividend & yield||0.47 (6.84%)|
|1y target est||750.80|
Rupert Hargreaves outlines three FTSE 100 (INDEXFTSE:UKX) stocks he'd buy to retire on. As an added bonus, they all yield 6% or more!
British retailer Marks & Spencer's pension scheme has transferred a total of 1.4 billion pounds ($1.77 billion) in liabilities to two insurance groups Pension Insurance Corporation (PIC) and Phoenix, the insurers said on Thursday. British companies are increasingly offloading risks linked to their pension schemes to specialist insurance companies, partly because of increased life expectancy. PIC is insuring 900 million pounds in liabilities of the 10 billion pound Marks & Spencer Pension Scheme in its first transaction with the scheme, it said in a statement.
The FTSE 100 bounced 0.9 percent, comfortably outperforming its European peers, as the pound dipped amid growing concern that a no-deal Brexit would become a reality. Many large UK-listed firms earn the bulk of their income abroad in foreign currencies and their shares benefit from a falling pound. The midcap FTSE 250, more domestically focussed, was 0.2 percent lower.
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
Shares of U.K. insurer Phoenix Group Holdings are appealing for several reasons including their pending inclusion in a key British stock index and a stable, hefty dividend, according to Barron's. Starting on Monday, Phoenix Group will be included in the FTSE 100 index which means fund managers that track that index will need to buy the stock. The company also is expected to pay a bigger dividend than its life-insurance industry peers, according to Barron's. The article cited a Barclays report that said it expects Phoenix’s dividend yield to total 7.5 percent this year, above 7 percent for Legal & General Group and 6.7 percent for Dutch life insurer Aegon.
Just Eat has muscled its way back into London's benchmark FTSE 100 after getting booted from the index last year.
Legal & General said it had made record sales of annuities in 2018, although some analysts questioned whether Britain's third-largest insurer could continue to raise its dividend at the same time, knocking its shares on Wednesday. The insurer said it had sold 10 billion pounds of annuities, most of them through the bulk annuity market, in which companies offload the risk to insurers of their defined benefit, or final salary, pension schemes. With the bulk annuity market expected to hit record levels of around 30 billion pounds this year, L&G's chief financial officer Jeff Davies said it was actively quoting on around 20 billion pounds in bulk annuity deals.
The company also reported higher full-year profit and targeted cash generation of 3.8 billion pounds from 2019 to 2023, more than the 2.5 billion pounds it earlier expected to earn between 2018 and 2022. Phoenix, poised to enter London's blue-chip index, also said its preparations for Brexit were complete, adding it would transfer assets to an Irish domiciled unit in which it has injected 250 million pounds. Phoenix's European businesses make up about 10 percent of its assets under management, with the Irish office managing 23 billion pounds.
** Shares of Phoenix Group Holdings seen up ~1-2 pct premarket after co. reported higher FY profit and targeted cash generation of 3.8 bln pounds from 2019 to 2023 ** Co. also proposed final dividend of ...
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England's High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around £9 billion in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part of a wider withdrawal of business and money by financial companies seeking to keep contracts and policies within the European Union even after Britain departs. Brexit formally takes effect at 2300 GMT on March 29.
Phoenix, Europe's largest owner of life assurance funds closed to new customers, bought a bulk of Standard Life Aberdeen Plc's (SLA.L) insurance business this year and has been looking for more bulk annuity purchases as many schemes are in deficit and companies are seeking ways to offload the risk. Bulk annuities typically involve the transfer to an insurer of company defined benefit, or final salary, pension schemes. Phoenix's cash generation hit 1.3 billion pounds in 2017 and 2018, higher than the 1 billion pounds to 1.2 billion pounds targeted range.