Aston Martin Lagonda Glo... Share Discussion Threads

[makingheaps] 16/11/2009 12:50

Insurance companies really are very lowly rated. It's hard to understand why the price doesn't shoot up to the £4.55 level suggested by Credit Suisse. They couldn't have issued a stronger announcement. The balance sheet is strong, you get a good yield and there's good prospects for growth in the underwriting side if not the investment returns. One of the UK's most profitable insurers. Great long term hold

[spob] 16/11/2009 10:57

Very good statement as expected

one to tuck away for sure

[ursus] 16/11/2009 09:09

i suppose this company is doing too well to attract any following....

[spob] 13/11/2009 06:09

16 November 2009 Second Interim Management Statement in 2009

[makingheaps] 26/10/2009 13:22

Current share price is £3.60 so if Cedit Suisse have a target of £4.55 thats now a 26% increase which must make it a BUY. I trust we can expect a further update

[v11slr] 14/10/2009 10:18

Credit Suisse Raises Amlin To Neutral

0652 GMT [Dow Jones] Credit Suisse raises Amlin (AML.LN) to neutral from underperform and increase the price target to 455p from 400p. Thinks ACI, formerly known as Fortis Corporate Insurance, is likely to have had a reasonable performance in '09 to date. Notes Amlin has stated it is looking to improve the performance of ACI over time and any indication that steps have been taken towards this could be well received by the market. Meanwhile, expects strong earnings from Amlin and a strong capital position following a year of limited large losses with peak pricing. Shares closed 378.8p.

[spob] 24/9/2009 22:04

From Times Online September 24, 2009

Sterling hits low as King backs weak pound

Bank of England Governor says currency fall would be 'helpful' in boosting exports and rebalancing UK economy

Tom Bawden

Sterling slumped to its lowest level in more than five months this morning after Mervyn King, the Governor of the Bank of England, appeared to back a weak UK currency.

Speaking to The Journal, a newspaper covering the North East of England, Mr King said that the significant decline in the value of sterling in recent months "will be helpful" to rebalance Britain's economy by helping to boost exports.

The pound dropped by 0.8 per cent against the dollar to $1.6202 as the market interpreted his comments to mean that Mr King is comfortable with the falling pound, which has declined by almost a quarter against other major currencies in the past two years. The pound also fell 1 per cent against the euro to 91.04p.

He said: "The fall in the exchange rate that we have seen will be helpful to that process but there's no doubt that what we need to see now is a shift of resources into net exports – whether directly or in producing things that compete with imports."

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Mr King continued, by expressing the note of cautious optimism that has characterised his recent statements relating to Britain's fragile economic recovery. He said: "Output has stabliised. There are some signs that growth may be beginning to pick up. But we shouldn't get too carried away by this. This is clearly very small growth after a very large fall and unemployment has risen so it's a difficult challenge ahead."

Howard Archer, chief UK and European economist at IHS Global Insight, said: "I interpret Mervyn King's comments as saying that a lower pound would be desirable – and I agree with him.

"Despite its slump, I am still surprised the pound is as high as it is and this could be potentially damaging for the economy," Mr Archer added.

Mr Archer believes that the pound will continue to fall because huge government borrowings and rising unemployment mean that the outlook for the British economy remains bleak.

Mr King's comments came a day after the Bank of England warned that Britain's tentative recovery could be a "false dawn", despite issuing a relatively upbeat economic forecast.

According to the minutes of the Bank's latest interest rate meeting this month, published yesterday: "There had been a number of developments during the month with positive implications for the short term. But the lesson from previous financial crises was that they were not resolved quickly, and that there could be false dawns."

[spob] 24/9/2009 22:01

Bank of England has been trashing the pound

Keep up the good work Gov

Great news for Amlin

Mervyn King is my Hero

Amlin fell today so i guess it will take a few days for the Hooray Henrys to see the light

[spob] 09/9/2009 12:18

ex div today

6.5p

[makingheaps] 28/8/2009 11:56

I think it went down because of uncertainty over the recent Eurpoean acquisition. It then bounced back because of the strong fundamentals. Better investment performance also played a part no doubt probably more because bond defaults became less likely rather than a rally in equities.

[spob] 28/8/2009 11:28

I wonder why this jumps up and down like the life insurers ?

I think only 7% of funds here are in equities

[makingheaps] 24/8/2009 16:02

Seems like an excellent set of interims today. Yield is still over 5% at current share price despite recent rise. I read elsewhere that Goldman Sachs rate it as a buy with a target of £4. They may revise this upward now. My main concern is the NAV. Is the stated NAV of £2.419 the normal measure? If so we are trading at a multiple of 1.5x whereas BRE for example is below NAV currently.

[volsung] 15/7/2009 09:15

Not so good a short LOL

[volsung] 10/7/2009 15:55

These are a nice short

[topvest] 06/7/2009 19:55

Bought a few of these today. Recent weakness is probably due to forex mvts and forthcoming hurricane season imo, but looks fairly solid to me and the yield is good and, hopefully, safe!

[enami] 10/6/2009 17:46

So relegated to the FTSE 250. I thought Monday's share issue would have bumped them up the list a bit but obviously not.

(EDIT found the reason why - from UK Stock Challenge
FTSE Indices Ground Rules state that cumulative changes in shares in issue of less than 10% are not taken into account between FTSE reviews. This means that market capitalisation figures shown in this table may not exactly equate to current market capitalisations.) The issue on Monday was only 5%.



INCLUSIONS
Wolseley
3i Group
London Stock Exchange Group

EXCLUSIONS
Drax Group
Amlin
Whitbread

[spob] 10/6/2009 01:24

Market Report: Diving US dollar hits Amlin insurance group

By Nikhil Kumar
Tuesday, 2 June 2009

Amlin fell as investors concerned about growing weakness in the US dollar began selling off non-life insurance stocks last night.


Numis weighed in, highlighting the negative impact of recent currency movements, as about 60 per cent of premium income is typically denominated in dollars. "The sterling value of US profits are therefore sensitive to the [pound-dollar] rate and will be impacted by the recent weakness in the dollar," the broker said, adding that earnings were likely to be affected by foreign exchange-related losses "on a number of levels".

"As well as the part-reversal of gains on non-monetary assets booked in 2008, the recent move in the [pound-dollar] rate will create new foreign exchange losses," Numis said. "Simplistically, the 2008 numbers were significantly enhanced by a move in the rate of around 35 per cent, about one-third of which has since reversed and will therefore be a negative in full-year numbers for 2009."

Factoring in the potential impact, the broker switched its stance on Amlin, which closed 7p lower at 342.75p, from "add" to "hold". Numis also downgraded Catlin, which fell to 335p, down 20p, after being moved from "buy" to "add".

[surrey dodger] 04/6/2009 10:23

Thanks Enami. Must get a better grip on the jargon used in some of these announcements :). I suppose I am happy then to have topped up with a few yesterday whilst they were at 320p.

[enami] 04/6/2009 09:27

Surrey the placing is complete and small PIs will never get a look in on this type of placing.

First RNS "The Placing will be effected by way of an accelerated bookbuild", only brokers and institutions get a chance to buy.

Second RNS "pleased to announce the successful completion of the placing" three hours after market open shows the interest was high.

I guess if you asked your broker immediately after the annpouncement they could have got some for you.

[surrey dodger] 04/6/2009 09:04

Hi :)

Does anyone know who will be offered the placing of shares at 325 on Monday, i.e. is it existing share holders or just institutions?

[enami] 03/6/2009 13:46

Broker rec

FinnCap Retain buy price price target 420p

(EDIT) Numis Retain Hold price price target 370p

[enami] 03/6/2009 13:28

Placing at 325, shares to be admitted Monday should see the company remain in the FTSE100 I think (The review is based on MCap at close Tuesday).

7 wave decline from the FTSE100 entry review in December.
Upside target still 440ish

[spob] 03/6/2009 07:11

£350m acquisition and 5% share placing

[spob] 03/6/2009 04:17

out of the FTSE 100

[enami] 01/6/2009 20:19

Broker: Numis Company: Amlin

Recommendation: downgraded to Hold from Add