S.Africa’s coal exports fall in April (Reuters)
South Africa’s Richards Bay Coal Terminal (RBCT) exported 6.24 million tonnes of coal in April, down from 7.49 million tonnes the previous month, RBCT data showed on Monday. South Africa – a major exporter of coal to power stations in Europe and Asia – had 3.61 million tonnes of stock at the terminal at the end of April, RBCT said. Coal producers in South Africa include Anglo American plc (LON:AAL), BHP Billiton Limited (NYSE:BHP), Exxaro EXXJ.J and Xstrata XTA.L.
Prudential’s Sales Beat Estimates on Growing Hong Kong Demand (BusinessWeek)
Prudential plc (LON:PRU), the U.K.’s biggest insurer by market value, said first-quarter revenue rose 8 percent, beating analysts’ estimates on higher demand for life and health insurance in Hong Kong and Indonesia. Sales, measured on an annual premium equivalent basis, climbed to 1.04 billion pounds ($1.6 billion) from a year earlier, beating the 1.02 billion-pound average estimate of 15 analysts surveyed by the company. Profit from new business increased 5 percent to 563 million pounds, topping the 555 million-pound analyst estimate. …Prudential plc (LON:PRU)’s sales in southeast Asian countries such as Indonesia, Singapore and Malaysia has strengthened the firm’s position in what it called the most long-term profitable insurance market in the world and has raised its dividend by 53 percent since 2009.
Business needs action, not more legislation (Telegraph)
With pomp, ceremony and all the regalia of the Household Cavalry, the Queen will on Wednesday be escorted from Buckingham Palace to Westminster to deliver Her Most Gracious Speech. The performance has been played out since the 16th century but this year, with respect, it seems many of her loyal subjects rather wish that Her Majesty would stay at home. …It also promised that an independent commission would be established to look at breaking up banks into their retail and investment banking arms. In practical terms, the Bill has delivered. The new regulatory structure started on April 1 this year, when the Financial Services Authority was dissolved and replaced by the Financial Conduct Authority and the Prudential plc (LON:PRU) Regulation Authority.
Man Group PT Raised to GBX 170 at Bank of America (EMG) (DailyPolitical)
Analysts at Bank of America Corp (NYSE:BAC) boosted their price target on shares of MAN GROUP PLC ORD USD0.03428571 (LON:EMG) from GBX 150 ($2.33) to GBX 170 ($2.65) in a research report issued to clients and investors on Tuesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Several other analysts have also recently commented on the stock. Analysts at Oriel Securities Ltd reiterated a “buy” rating on shares of MAN GROUP PLC ORD USD0.03428571 (LON:EMG) in a research note to investors on Friday. They now have a GBX 115 ($1.79) price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of MAN GROUP PLC ORD USD0.03428571 (LON:EMG) in a research note to investors on Friday.
Man Group plc (LON:EMG) reveals disappointing first-quarter client outflows. (Fool)
The shares of MAN GROUP PLC ORD USD0.03428571 (LON:EMG) surged 9% to 116p during early London trade this morning, after the hedge fund firm revealed it will repurchase all of its debt securities with surplus cash. Man announced that after a change in the company’s regulatory status, a whole $470m of surplus cash would be freed up to redeem the debt, saving the group $78m a year in interest charges. However, this news masked…
