Shell's climate plans do not go far enough, says UK's biggest fund manager
LGIM is the UK’s largest fund manager with £1.2 trillion of assets
Company
Legal & General Group PLC
LON:LGEN
Legal & General Group PLC is a holding company for a group of risk, savings and investment management businesses. Its risk business is engaged in the provision of financial security for customers and their families, including life assurance, critical illness cover, retirement income, and buildings and contents insurance.
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Institutional investors group calls for banks to set more ambitious ESG goals
Institutional Investors Group on Climate Change manages US$11 trillion in assets
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Legal & General increases provisions for COVID-19 deaths due to new variants
The pandemic reduced operating profits by £228mln in the year to end-December
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FTSE 100 falls short on ESG standards as no black people hold top roles
As a result, only ten of 297 leaders in the top three roles have ethnic minority backgrounds
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Legal & General PLC downgraded by US bank Citi
Following the review, life and general insurer L&G is now rated as neutral
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Legal & General sets out plan to grow dividends - from next year
Chief executive Nigel Wilson said his plan would deliver an “attractive combination of income and growth”
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Legal & General issues ultimatum for FTSE 100 companies to diversify boards
The life insurer told FTSE 100 and S&P 500 companies that they should have at least one black, Asian and minority ethnic (BAME) director by January 2022
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Legal & General keeps dividend flat as annuity sales remain strong
Earlier this year, a shareholders group warned that the life insurer should not pay a dividend because of the substantial bond market losses and coronavirus uncertainty it was facing
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Legal & General determined to pay dividend despite shareholder group's bond warning
The life insurer is intending to pay a dividend worth £754mln next month
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L&G target price raised by Citigroup in note questioning whether the insurer is “Safe as houses or a house of cards?”
“Bulls point to growth opportunities, competitive advantages, a strong track record of avoiding defaults and a solvency position that can absorb further shocks"
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Legal & General: dividend growth fed by powerful trends and “mutually reinforcing combination”
The life insurer “has managed to marry together two major trends – bulk annuities and low cost tracker investing – into a powerful, mutually reinforcing combination,” said one analyst
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Legal & General hikes dividend after cutting mortality expectations
Profits surged as the main 'Retirement' division won various bulk annuity deals, including from the likes of Rolls-Royce and National Grid
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FTSE 100 closes higher as central banks stimulus hopes boost sentiment
Yesterday, the US Federal Reserve made an emergency rate cut in a bid to combat the effects of the wide-spread coronavirus
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Legal & General results and FTSE 100 reshuffle eyed on hump day
Following last week's bloodbath for equities as a result of coronavirus fears, it is currently anybody's guess who could be demoted from the blue-chip index
Legal & General profits jump 11% but shares dip as non-annuity sales fall short of market expectations
The profit jump was helped by a bulk annuity deal signed in June between the FTSE 100 insurer and engine maker Rolls-Royce
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FTSE 100 closes lower but BP top gainer after Q2 results beat expectations
The FTSE 100 index closed 39.84 points lower on the day at 7,646, while the midcap FTSE 250 index plunged almost 112 points to close at 19,774
Legal & General wins largest UK pensions risk transfer deal from Rolls-Royce
The transfer of £4.6bn of assets and liabilities relating to the engine maker's pensioners will reduce its post-retirement obligations by around £4.1bn
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L&G sells general insurance business to Allianz for £242mln
L&G said it expects the deal will strengthen its balance sheet, adding 2% to its Solvency II capital ratio.
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FTSE 100 ends lower as US stocks retreat after mixed tech earnings
The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
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Barclays set to kick off Q1 reporting season for UK banks
Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
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Legal & General agrees first pension risk transfer in Canada for more than C$200mln
"I am delighted to announce our first PRT transaction in Canada, where the market is growing strongly,” said chief executive Nigel Wilson
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Legal & General higher as JPMorgan ups stance to ‘neutral’ from ‘underweight’ following de-rating
The US bank's analysts noted that L&G’s management has continued to deliver on growth plans, supported by a growing annuities business and consistent positive net inflows in asset management
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Legal & General sees AuM top £1trn and profits rise in 2018 despite market declines
“A lower than hoped for Solvency ratio, and a miss on cash generation, hit Legal & General’s share price immediately after results were announced, but we think the underlying trends remain supportive of the long term investment case,” said
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FTSE 100 closes up while European indices fall despite talk of new ECB lending
Footsie closed at 7,196 - up 12.57 points, while FTSE 250 finished in the red - down around 83 at 198,359
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Legal & General to see new chief exec hog spotlight on Wednesday
While the insurer is scheduled to report its finals, the figures may be overshadowed by the new head of its investment management arm Michelle Scrimgeor
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Legal & General appoints European chief of Columbia Threadneedle Investments to lead investment arm
Michelle Scrimgeour will succeed Mark Zinkula, who will step down as head of the £1tn investment management division in August after eight years in the role
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Legal & General upgraded to ‘Buy’ but does not escape unscathed as Deutsche Bank takes scythe to insurance sector
The bank said L&G offered “the best combination of quality, risk and reward” among UK life assurers, which it said had become “investment pariahs” in recent months
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Legal & General swoops for £2.4bn Nortel pension plan
Nortel'ss spectacular bankruptcy left pensioners, shareholders and employees in the lurch, though apparently not the directors, who collected almost US$200mln in retention bonuses following the collapse
Unilever withdraws plans to scrap dual listing and relocate out of UK
The FTSE 100-consumer goods giant said the proposal had “not received support from a significant group of shareholders” after it outlined the plans in September
FTSE 100 closes sharply lower as sterling gains and miners weigh
The UK blue - chip index finished down 99.8 points at 7,318, while FTSE 250 was also lower
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Legal & General completes £4.4bn pension deal with British Airways
L&G chief executive Nigel Wilson said further transactions are planned in the next few months to remove legacy liabilities
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FTSE 100 closes firmly higher as investors fret less on China/US relations
The UK blue-chip benchmark closed up over 58 points at 7,556, while its mid-cap cousin FTSE 250 added almost 142 points
Investments and investor services
Lloyds and HSBC go ex-div, but has the BBQ summer saved Kingfisher’s first half?
Investors in the B&Q owner will be hoping for a BBQ boost sufficient to offset the springtime freeze.
Brewin Dolphin names finance boss of Legal & General Investment Management as its finance director
Back at the end of April, the FTSE 250-listed firm announced the surprise departure of its finance director Andrew Westenberger, who left by mutual agreement on May 16
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Legal & General first-half profits fall as volatility weighs on investment portfolio
L&G said it was on track to deliver 10% increase in earnings per share each year until 2020
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Cineworld investors hope World Cup and hot weather failed to keep customers away in first-half
The day ahead sees Cineworld and Legal & General report their first-half results
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Legal & General inks lifetime mortgages deal with Virgin Money – media reports
Legal & General, one of the biggest players in the market, already has lifetime mortgage partnerships with Santander and The Co-operative Bank, Reuters said
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FTSE 100 closes higher, supported by gains in oil giants as crude prices rise
At the close, the UK blue chip index was 4.68 points higher at 7,663.78, just below the session peak of 7,681.86, having recovered from a low of 7,636.60
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HSBC will ring down the curtain on the bank's interim reporting season, but other financials also in focus
Aside from HSBC's numbers, Prudential, L&G, Standard Life Aberdeen, and Hargreaves Lansdown are all on the results docket in the coming week
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L&G expects asset management arm to deliver profit growth as strategy pays off
The Legal & General Investment Management business is expected to achieve operating profit growth of between 8% to 10% per year over the medium term
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FTSE 100 closes above 7,420 but gains capped by fall in Shell, US trade deficit in goods drops
Imports in the period fell 2.1%, while exports increased 2.4%
Shire takeover talk will overshadow results after Takeda upped the ante
Takeda on Wednesday increased its offer for Shire up to £46bn or £49 per share.
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Lloyds, Barclays, RBS, GSK and Shire kick off earnings season for banks and pharmas
The week ahead in includes updates from Lloyds, Barclays, RBS, Shire, GSK, Whitbread, Persimmon and Shell
Mortgage Advice Bureau Holdings recruits new managing director
"I am really looking forward to working closely with Ben to deliver our strategic objectives for the next five years and beyond,” said chief executive Peter Brodnicki.
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ULS Technology shares slide as CEO poached by Mortgage Advice Bureau
A look at some of the biggest risers and fallers in London on Wednesday
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Legal & General takes over full ownership of Cala Homes for £315mln
L&G's investment arm has agreed to pay £315mln to buy the 52.1% stake in Cala Homes that it did not previously own
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Legal & General sees 2017 profit jump 32% jump boosted by reserve releases for changing longevity expectations
The FTSE 100-listed firm reported full-year operating profit of £2.1bn, above the consensus forecast of £1.9bn, boosted by a mortality release of £332mln
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FTSE 100 closes in positive territory despite Trump trade war fears
Around 3.50pm, the FTSE 100 index was up 13 points at 7,160
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Paddy Power Betfair expected to show strong online growth
Whenever a CFO serves notice to quit, as Paddy Power's Alex Gersh did this week, shareholders tend to get a bit nervous
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Investors set to tuck into tasty results from Domino's Pizza and Just Eat
The week ahead sees earnings from Domino's Pizza, Just Eat, Restaurant Group, Legal & General, G4S, Rolls-Royce, Ashtead and Immarsat
Deutsche Bank upbeat on European insurance sector, raising price targets for a swathe of UK names
The bank's analysts said insurers "look reasonably positioned – cushioned against market weakness by strong balance sheets and on PEs that are well within the long-term trading range”
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Legal & General upbeat as retirement and fund arms outperform
“Our core business divisions are generating formidable momentum,” said chief executive Nigel Wilson
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Legal & General exits with-profits after fifty years through £650mln sale to Swiss Re
The group’s portfolio of £33bn mature saving policies has been sold to Swiss Re for £650m
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HSBC cuts target price on insurers RSA, Admiral and Aviva amid market challenges and reforms
Insurers have been affected by inflation for so-called ‘escape of water’ claims for water damage in homes, while the market remains competitive
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Insurers L&G and the Pru feel the love from Citigroup
L&G was upgraded to 'buy'; the Pru was already rated a 'buy' and has had its target price lifted
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Jefferies International gives Legal & General shares a lift with price target hike
Jefferies analysts said: “The outlook for L&G's core business appears strong, with management expressing confidence on 10% earnings growth and 7% dividend trajectory”
What’s in store for Kingfisher investors on Thursday?
The B&Q owner's French business has overshadowed recent decent performances, will it blight the next figures?
Prudential sells US independent broker-dealer for US$325mln to LPL Financial LLC
Prudential has shed assets from its US business to focus on retirement products
Legal & General plans to bid for Prudential's UK annuity business
Legal & General is understood to have put money aside for a bid when Prudential’s annuity business is officially put up for sale
FTSE 100 stays weak, but off lows as US stocks rally
At 3.15pm, the UK benchmark index was down 64 points at 7,325, above the session low of 7,296.49 but still set for its worst week in nine months having dropped nearly 250 points in the last three sessions of the week
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Legal & General's first-half profits supported by retirement business but shares fall
Legal & General said it is not complacent on the "structural weaknesses" in the UK economy
FTSE 100 closes lower as North Korea tensions spook traders
The FTSE 100 index finished down around 44 at 7,498, above the session low of 7,475.83, but unable to reach the opening peak of 7.542.73
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G4S expected to continue recent recovery with solid first half update
Given the recent terror attacks, demand for G4S’s security services is likely to have remained strong in the opening six months
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Insurers and fund mangers in the earnings frame, notably Standard Life, Prudential and L&G
Week ahead: Results from Standard Life PLC, Prudential PLC, Legal & General Group PLC, Paddy Power Betfair PLC, Intercontinental Hotels PLC , G4S PLC, Glencore PLC ...
FTSE 100 closes lower as Trump fears grow; Dow Jones crashes
The UK blue chip index closed down 18.56 points at 7,503
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Back to the dog pound: Dogs of the Footsie outperform in 2017
At the end of January, John Harrington tweaked the famous investment strategy known as the Dogs of the Dow, and applied it to UK stocks. How are the investments doing?
FTSE 100's losses made heavier by South Africa-focused stocks
An otherwise storming quarter that saw the Footsie rise 180 points ended on a dull note
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Final reading for fourth-quarter 2016 UK GDP growth to draw line under the Brexit vote year
The second reading for growth in the three months to December 2016, delivered last month, was revised up to 0.7% from an initial 0.6% reported in January, but full year GDP for 2016 was revised down to 1.8% from 2.0% on the back of weaker e
Legal & General ups stake in ImmuPharma
L&G upped its stake in the recent £4.1mln fundraising, and now holds a 3.5% stake in ImmuPharma
Prudential's dividend yield lags behind UK insurance peers but outlook positive
Aviva and Standard Life is leading the way with dividend payments in the UK insurance sector
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L&G hikes its full-year dividend as 2016 profits rise, although its solvency ratio slipped
The FTSE 100-listed group reported a jump in pre-tax profits to £1.582bn for the 12 months to December 31 2016, up from £1.355bn in 2015
Investments and investor services
FTSE 100 ended lower despite sterling weakness and Budget boost to builders
FTSE 100 shares ended down on Wednesday with sterling nursing a seven-week low despite a lift for construction stocks following the UK Finance Minister’s Budget pledge of a mini Trump boost to infrastructure
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G4S to benefit from Trump's military spending plans as it reports full year earnings
US President Donald Trump's plans to increase defence spending may lend support to G4S while The Restaurant Group's new chief executive has plenty of work ahead after its struggles
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Limited wiggle in the Budget for Hammond
The Chancellor of the Exchequer may have a lower debt burden to deal with than he was expecting at the time of the Autumn Statement but he is unlikely to splurge
Selectively breeding the Dogs of the Footsie
The normally reliable investment strategy based on the "Dogs of the Dow" system has had a bad couple of years; what if we tweaked it?
FTSE 100 shares close lower, tracking Dow and Donald
FTSE 100 shares closed lower on Tuesday in sympathy with declines of up to 160 points on Wall Street’s DJIA as the fallout of US President Donald Trump’s first week in office continued to take its toll
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Selectively breeding the Dogs of the Footsie
The normally reliable investment strategy based on the "Dogs of the Dow" system has had a bad couple of years; what if we tweaked it?
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Standard Life tops the FTSE 100 fallers as Deutsche Bank cuts rating to 'hold'
In a review of the European Insurers, the broker cut its stance on Standard Life to ‘hold’ from ‘buy’ and reduced its target price on the stock to 370p from 390p.
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Chesnara shares in high demand
Current shareholders purchased almost three times more shares than were originally up for grabs in the open offer
FTSE 100 stocks end firm thanks to a claim from Direct Line
FTSE 100 shares ended firmer on Thursday after a late recovery accompanied news from insurer Direct Line
FCA asset manager report does not bode well for industry, reckons Liberum
The report covered many points, including that there was a lack of competition and transparency on charges.
Proactive news highlights: Mosman stars as it acquires producing oil field
Also in the news, Hurricane Energy has started drilling on its latest well in the North Sea, while Premier African hits ‘significant’ lithium grades in Zimbabwe
Investments and investor services
FTSE100 ends unchanged in Fed vigil
UK stocks ended flat on Wednesday as jitters ahead of the Federal reserve’s rate decision set in
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London stocks mark 5th successive session of gains as financials rise
London’s blue-chip ticker ended Wednesday higher for a fifth successive session after financial stocks put weaker energy stocks in their place
FTSE 100 weighed down by weak oilers
With the oil price continuing to slide, heavily-weighted oil giants Shell and BP were dragging the top-share index lower
London shares firm after BoE gilt buy wobbles
London shares ended higher on Tuesday after an unexpected helping hand from the government bond market
Investments and investor services
Risers & Fallers: boohoo.com, Alba Mineral Resources, Galantas, SIG, IP Group, Tex Holdings
No tears at boohoo.com as it issued an upbeat trading update
Investments and investor services
UK shares still on front foot at lunch
The US benchmark, the S&P 500, briefly hit a new all-time high yesterday before turning lower; nonetheless, the FTSE 100 is set to continue its journey to its own new high.
PREVIEW - GW Pharmaceuticals keeps on surprising
Purified cannabinoids biotech company GW Pharmaceuticals reports quarterly numbers.
Stocks down as enthusiasm flattens
Investors calm down and leave trading flat at the start of the week, despite an early high
Healthy oil rise keeps markets afloat, helps energy stocks
Investors cautious on Monday following a burst of optimism
Week Ahead: Telit expected to reveal benefit from sterling's slide
Among the big names reporting this week include insurance giants Legal & General, Old Mutual, Standard Life and Prudential
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Brokers: Direct Line, Legal & General under scrutiny
Insurers were in the firing line on Thursday after Barclays released a report giving its assessment of the UK and European insurance market post-Brexit
Redx Pharma chief says business fundamentals are "incredibly strong"
The business is making solid progress and has strong support from its institutional investors, reveals chief executive Neil Murray.
London stocks end firm but smaller stocks hurt by Brexit as BoE starts a liquidity blitz
London’s FTSE100 index closed firmer after a see-saw session on Tuesday but smaller stocks were hurt as post-Brexit sterling fell 2% and hit a new 1985 low, a gilt auction marked a record-low yield, and the Bank of England pumped emergency
Smaller stocks suffer as economic chaos grows after 'Brexit' vote
The FTSE 250, which contains more UK-focused stocks than the Footsie, fell 418.8 points to 15,697.9
Fund managers and housing stocks plunge in wake of Standard Life property fund suspension
Investors won’t be able to buy or sell units in the fund until further notice. The managers are looking to raise cash by selling off some of the portfolio.
Investments and investor services
FTSE 100 opens 17 points down
The FTSE 100 didn't get off to a great start this morning.