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Spring Statement to dominate on Wednesday amid fallout from Brexit deal vote
While major fiscal measures are not expected, the result of Tuesday's vote on Theresa May's Brexit deal could put the chancellor on the spot
Company
Phoenix Group Holdings PLC
LON:PHNX
Phoenix Group is a closed life assurance fund consolidator that specialises in the management and acquisition of closed life and pension funds, and operates primarily in the United Kingdom. Measured by total assets, the group is the largest UK consolidator of closed life assurance funds. The group has over 5.6 million policyholders and £74 billion of assets held by the Group’s life companies.
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Phoenix hikes final dividend as it beats cash generation target after Standard Life Assurance deal
“There remains great uncertainty about the timing and terms of the UK's withdrawal from the EU,” said chief executive Clive Bannister
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Direct Line to report higher 2018 profits despite large weather-related claims
The day ahead includes full year results from Direct Line and GVC along with a trading update from Ashtead
Just Eat to re-join FTSE 100 index next month, just one quarter after demotion; Phoenix Group also gains blue chip status
The FTSE UK indexes quarterly reshuffle was announced after the London market close on Wednesday, with the changes to come in effect at the start of trading on Monday 18 March
Phoenix has most defensive dividend yield among life insurers as Brexit looms, says Barclays
Barclays upgraded its rating on Phoenix to 'equal weight' from 'underweight' but left its target price at 680p, noting that shares have fallen in line with peers over the past year
RBC upgrades Aviva to ‘Top Pick’, says buy before new CEO takes control
In a note, the bank’s analysts said the incoming CEO would be able to “take advantage of the key growth areas of the UK market” which would likely drive up the share price
Phoenix Group beats cash generation target for 2017 and 2018 as more companies shift pension risks
The FTSE 250-listed firm said its cash generation hit £1.3bn in the 2017 and 2018 period, higher than the £1bn to £1.2bn targeted range, with £644mln of cash generated in 2018 and £653mln in 2017
Investments and investor services
FTSE 100 closes in red as trade worries and Brexit fears put investors off
The UK index of leading shares finished Thursday down around 11 points, or 0.15%, at 7,563.
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CRH to provide progress report on margin improvement initiatives
There are not many heavyweights expected to release results on Thursday but plenty will be going ex-dividend
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World biggest miner, BHP Billiton the main focus as results flow set to slow in coming week
Only three other FTSE 100-listed companies are scheduled to unveil updates – housebuilder Persimmon, Irish construction group CRH, and Middle East hospitals operator NMC Healthcare
Phoenix Group's Standard Life transaction a win-win deal
It's a beneficial deal for both sides: It increases Phoenix’s assets under management and cash generation while making Standard Life "a capital-lite asset gatherer" focused on asset management and UK platforms
FCA to take no action against Lloyds Banking Group's Scottish Widows unit after long-running probe
The regulator had been investigating Scottish Widows and five other insurers since March 2016 after conducting a review of their treatment of longstanding customers
Phoenix Group launches around £950mln rights issue to fund part of cash consideration for Standard Life Assurance acquisition
The FTSE 250-listed insurer said, under the rights issue, shareholders can apply for 7 new shares for every 15 existing ones held at a price of 518p each
Axa to sell Sun Life business
The French insurance company is to sell its UK investment, pensions and insurance business to UK insurer Phoenix Group