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Real-Time news about Kiln (London Stock Exchange): 0 recent articles
|siskinbird: Thanks for the new thread sunset - good to have charts!
I agree with you abou the share price - steady as she goes at the moment, and doing nicely.|
|siskinbird: From today's Independent:-
"Kiln is a buy as insurers reap hurricane benefit
They were ill winds but they blew the insurance industry a load of good. The devastation wrought by the US hurricane season has been one big advert for insurance, and premiums for catastrophe reinsurance are expected to rise 23 per cent next year, and for oil rig insurance by 46 per cent.
For the second time in as many days, a Lloyd's of London-based insurer announced a rights issue yesterday to allow it to capitalise on the upturn. Kiln is raising £72.8m, which it will use to back new insurance contracts next year. The much bigger Amlin said on Tuesday that it was raising £224m for expansion.
Kiln's fund raising was not without its critics. Only £40m has been specifically earmarked for underwriting purpose s at Lloyd's next year, with the remainder going to provide "flexibility", so it looks opportunistic. Also, in an analysis of the last time the premium cycle turned up, after 11 September 2001, Bridgewell Securities showed yesterday that the insurers who raised most from shareholders have tended to make the worst returns on capital since then. Kiln's additional underwriting will have to be extra profitable to make up the 16 per cent discount to the prevailing share price at which the rights issue has been priced.
No matter, this is the right time to be in insurance shares. Kiln - which we tipped at 86.5p in April and which was 101p yesterday - is a buy, and the rights, at 87p, are very attractive."|
|wimbledonblue: Increase the market cap by 43% for a mere 13% discount in the current share price, looks expensive compared to Amlin's rights issue. Plus more to come in the sector!|
|ursus: brit annouced today that they disposed of 13m shares on 3/7. about half of these were taken up by amvescap. today another trade of 1.7m shares has gone through - my guess is that this may be brit getting rid of some more, so that now they only hold 800k.
the strength of this share in a bad market plus the departure (almost) of the weak holder brit without causing any damage to the share price should cause you to think this might not be such a bad spot for your cash - but dyor!|
|ursus: the egm is today, and i suspect that this share may tick up after the inevitable result is announced - it was quietly strong last week. tho' i am doubtful about the wisdom of a rights issue at the bottom of the share price range, i suspect the big holders welcome it because it makes the prospect of their exit more real -- berkeley will now have 20% of th company and may be looking for an agreed takeover, for all i know.|
Kiln share price data is direct from the London Stock Exchange