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1 April 2021 | 12:22pm StockMarketWire.com - The FTSE 100 was up 0.5% to 6,745.29 ahead of the Easter break as investors backed shares which will benefit from the reopening plan which is set to gather pace in the UK in April. Clothing retailer Next has jumped 4.1% to £81.92 after it posted a 15% fall in full price sales for 2020/21 and pre-tax profit of £342 million, in line with guidance but said online sales growth is set to continue. In the first eight weeks of the 2021/22 year, Next said its online sales have been stronger than expected and has raised its central profit guidance by £30 million from £670 million to £700 million for 2021/22. ....
1 st April 2021 8:42 am Quilter has agreed to sell its international business to life assurance company Utmost Group for £483m as it looks to further grow its UK wealth management arm. The deal, which is subject to regulatory approval, will add £22bn of assets under administration and 90,000 policies to Utmost International. The two companies will continue to work together and a range of “flexible” international life assurance products will be available on the Quilter platform. Quilter says the sale will simplify its business and allow the group to focus on it higher growth UK wealth management business. From the beginning of next year, Quilter will target annualised net client cashflow growth of at least 6 per cent of opening assets under management and administration in the medium term. It was previously aiming for 5 per cent. ....
LONDON MARKET OPEN: Green start for FTSE 100 with Next shares rallying Thu, 1st Apr 2021 08:44 (Alliance News) -Â London got off to a solid start to Thursday s session after US President Joe Biden unveiled his latest spending plans, looking to pump USD2 trillion into infrastructure. The blue-chip FTSE 100 index also was given a bost as Next shares rallied on an improved profit outlook for the year ahead. The FTSE 100 was up 26.11 points, or 0.4%, at 6,739.74 early Thursday. The mid-cap FTSE 250 index was up 120.16 points or 0.6%, at 21,638.87. The AIM All-Share index was up 0.2% at 1,199.67. The Cboe UK 100 index was up 0.1% at 671.80. The Cboe 250 was up 0.3% at 19,330.30, but the Cboe Small Companies down 0.1% at 13,870.75. ....
LONDON MARKET PRE-OPEN: Next raises profit guidance on online strength Thu, 1st Apr 2021 07:43 (Alliance News) - Stocks in London are set for an upbeat end to an abbreviated week as markets in New York and Asia registered gains overnight, shaking off fresh lockdown measures in France. In early UK company news, Next s full-year profit dived, as expected, though guidance was raised for the year ahead, Quilter has agreed to sell Quilter International for GBP483 million and Equiniti posted a loss for 2020 with its chief financial officer set to depart. IG says futures indicate the FTSE 100 index of large-caps to open up 24.47 points, or 0.4%, at 6738.1 on Thursday. The FTSE 100 closed down 58.49 points, or 0.9%, at 6,713.63 on Wednesday. ....
1 April 2021 | 07:39am StockMarketWire.com - Wealth manager Quilter has announced the sale of Quilter International to Utmost for £483 million in a deal that it said will simplify Quilter and focus the group on its higher growth UK wealth management business. The deal, which has been unanimously agreed by the board of Quilter, is expected to complete around the end of 2021. The company expects net cash proceeds from the sale of approximately £450 million after allowing for transaction costs. Quilter chief executive Paul Feeney said: It allows us to focus on accelerating our growth and efficiency plans as well as further simplifying and focusing our business around its core UK high net worth and affluent customer proposition. It also gives us the ability to deliver a further meaningful capital distribution to shareholders. ....