(PRU.L) Prudential PLC Buy/Sell

RNS Number : 9034G Prudential PLC 09 February 2010

Date: 9 February 2010

Number of report in announcement: 1

DISCLOSURE DIRECTOR'S DETAILS - Ann Godbehere

Director's other publicly quoted directorships

As required by Listing Rule 9.6.14(2), we confirm the following change to the information disclosed in respect of Ann Godbehere, one of Prudential plc's non-executive directors.

Directorships held in publicly quoted companies:

Ann Godbehere has been appointed as a non-executive director of Rio Tinto plc with effect from 9 February 2010.

Additional information:

Prudential plc is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America.

STOCKS NEWS Reuters Results diary
Europe Real-time Equity News
UK Stocks on the move
UK smallcaps UK smallcaps news

16:10GMT 08Feb2010-Life insurers dip on eurozone bond fears

Shares in British life insurers drop by as much as 3.6 percent, reflecting concern over the sector's exposure to sovereign debt as government bond yields in heavily-indebted southern eurozone countries continue to rise.
"I think people are worried about bonds," says Oriel Securities analyst Marcus Barnard.
Shares in Legal & General are down 3.6 percent by 16:10 GMT, making it the FTSE 100's biggest faller, while Aviva and the UK's Prudential are both down 2.3 percent.

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11:55GMT 08Feb2010-UK small caps fall 0.4 pct midday

The FTSE Small Cap index falls 0.4 percent in midday trade, while the midcaps drop 0.2 percent, and the blue chips are 0.1 percent lower.

BATM Advanced Communications sheds 12 percent after the technology firm posts full-year results, which Altium Securities says came in below its expectations, prompting the broker to cut its rating on the stock to "hold" from "buy".
CareCapital soars nearly 67 percent after the medical centre developer sells a portfolio of properties to Primary Health Properties for 23.5 million pounds.

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11:33GMT 08Feb2010-St Modwen higher on positive 2010 outlook

Shares in St Modwen rise 2 percent after the British real-estate developer says it expects a return to growth in profits and net asset value in 2010, prompting broker Numis to lift its recommendation to "buy" from "add".

"We feel the shares offer good value trading on approximately 10 percent discount to prospective net asset value, particularly when considering that St Modwen has not yet (and in our view will) benefited from yield compression on commercial assets and residential land values appear increasingly well underpinned," says Numis in a note.
The broker has a target price of 250 pence on the stock.
For more click on

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10:32GMT 08Feb2010-CareCapital up on property deal

Shares in CareCapital climb 66.7 percent, making it the top AIM riser, after the medical centre developer sells a portfolio of properties to Primary Health Properties for 23.5 million pounds.
"It puts them on a sounder financial footing in terms of balance sheet strength," says Daniel Stewart analyst Tom Mills, adding that his estimate of NAV is about 10.2 pence at the initial stage.
"I think one of the main concerns was on short term debt position and this clearly helps that position greatly."
Shares in Primary Health also rise as much as 2.2 percent following the announcement.
To see Care Capital's statement please click on

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10:23GMT 08Feb2009-YouGov gains on trading update

Shares in YouGov rise 1.9 percent after the online market research agency's upbeat trading update, which prompts Numis to repeat its "buy" rating.
"The structural opportunity remains firmly intact and (we) expect revenues to recover strongly as business confidence returns," says the broker in a note
Numis retains its 2010 pretax profit forecast of 4.2 million pounds but says YouGov is "undervalued on just 0.6 times revenues given our view that the group can make a double digit margin which would justify a multiple of at least 1 times".
For more double click on

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09:40GMT 08Feb2010-Brewin Dolphin rises; broker bullish

Shares in stockbroker Brewin Dolphin add 3.1 percent after Daniel Stewart issues an upbeat note on the firm, repeating its "buy" recommendation saying on a "medium-term view the current valuation looks compelling."
Daniel Stewart says it sees strong catalysts for upgrades following a period of cost-cutting and margin pressure, and it expects funds under management to reach 24.4 billion pounds in 2011.
"The stock is supported by a very attractive yield, and with such high levels of operational gearing, a prolonged market upturn is likely to lead to a return to recovery ratings," the broker says in a note.

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09:26GMT 08Feb2010-BATM falls, results disappoint

Shares in BATM Advanced Communications Ltd fall more than 8 percent after the Israeli telecoms equipment company posts a 22 percent drop in full-year pretax profit and says it remains cautiously optimistic about 2010.
Altium Securities analysts Jonathan Imlah and Jon Fletcher downgrade the stock to "hold" from "buy" and say: "BATM's results for the full year to Dec. 31 have come in below our expectations at every level as a result of a more pronounced shift in the revenue mix towards the lower-margin medical division."
"The results are disappointing and suggest that any upturn in fortunes will take longer than previously anticipated," they add, and cut their price target on BATM to 55 pence from 65 pence.
For more please click on

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COPYRIGHT

Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

By Claire Milhench

LONDON, Feb 8 (Reuters) - M&G, the fund arm of Prudential , is seeking to address a funding gap for housing associations through the development of inflation-linked products, targeting worried pension funds and insurers. "We see a lot of demand for inflation-beating assets from insurance companies and pension funds to insulate liabilities from inflation risk and there aren't enough options out there," said Bernard Abrahamsen, head of institutional sales and marketing at M&G.
The firm's existing inflation-linked offerings include a Secured Property Fund. Last year M&G also launched a fund to lend to mid-caps struggling to raise funding from banks post-credit crunch.
Now M&G is looking at ways to build similar products based on social housing and infrastructure debt, to provide an alternative to inflation-linked gilts for investors.

"The housing associations have funded themselves wholly through bank lending but we are looking at the possibility of investing in them via alternative lending arrangements," said Abrahamsen.
With banks less willing to lend post-credit crunch, housing associations are being forced to consider going to the bond market or borrowing from institutions like M&G.
This kind of direct lending is yet to take off in a substantial way in Europe, but in the U.S. it has been established for a number of years. Abrahamsen said M&G has been investing its own money like this for decades, and client money for the last few years, but the overall market remains niche.

"We are working on various co-investment opportunities for long-term savings institutions," he said. "They want assets with a series of cash flows that rise with inflation and their involvement could help fill the funding gap for housing associations."
Big institutional investors like pension funds and insurers have liabilities linked to inflation, so they need investments that meet this long-term risk.
"Housing association rentals, with their linkage to the retail prices index, provide a very natural fit," he said. Social housing tenants often pay their rents via housing benefit so this is seen as a relatively low risk investment.
The result is an investment similar to an index-linked gilt, but with a good spread over government bonds. Inflation-linked gilts currently offer a yield of just 0.7 percent on the 30-year bond, and there is limited supply.

"Pension funds and insurance companies are still buying these securities but there are better opportunities elsewhere, especially in long-lease property," Abrahamsen said. Keywords: M&G/INFLATION (Editing by Louise Heavens; claire.milhench@thomsonreuters.com; +44 (0)20 7542 3571; Reuters Messaging claire.milhench.thomsonreuters.com@reuters.net)

COPYRIGHT

Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

RNS Number : 7838G System C Healthcare plc 05 February 2010

TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii):

System C Healthcare plc

2. Reason for the notification (please state Yes/No): ( )

An acquisition or disposal of voting rights: (Yes)

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( )

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments: ( )

An event changing the breakdown of voting rights: ( )
Other (please specify): ( )
3. Full name of person(s) subject to the notification obligation (iii):

Prudential plc group of companies

4. Full name of shareholder(s) (if different from 3.) (iv):

N/a

5. Date of the transaction and date on which the threshold is crossed or reached (v):

4 February 2010

6. Date on which issuer notified:

5 February 2010

7. Threshold(s) that is/are crossed or reached:

5%

8. Notified details:
A: Voting rights attached to shares (viii), (ix)
Class/type of sharesif Situation previous to the triggering transaction

possible using the ISIN CODE
Number of shares Number of voting Rights
GB00B0940H91 Below 5% Below 5%

Resulting situation after the triggering transaction

Class/type of Number of shares Number of voting rights(ix) % of voting rights(x)

sharesifpossibleusing the ISIN

Direct Direct(xi) Indirect(xii) Direct Indirect
GB00B0940H91 6,442,976 6,442,976 n/a 5.58% n/a

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument Expiration Exercise/Conversion Number of voting % of voting rights
date(xiii) Period(xiv) rights that may be
acquired if the
instrument is
exercised/ converted

n/a

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments(xv), (xvi)

Resulting situation after the triggering transaction
Type of financial Exercise price Expiration Exercise/ Number of voting % of voting rights(xix), (xx)
instrument date(xvii) Conversion rights instrument
period(xviii) refers to
Nominal Delta

n/a

Total (A+B+C)

Number of voting rights % of voting rights

6,442,976 5.58%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable (xxi):

Prudential plc (parent company)

M&G Group limited (wholly owned subsidiary of Prudential plc)

M&G Limited (wholly owned subsidiary of M&G Group Limited)

M&G Investment Management Limited (wholly owned subsidiary of M&G Limited)

Proxy Voting:

10. Name of the proxy holder:

n/a

11. Number of voting rights proxy holder will cease to hold:

n/a

12. Date on which proxy holder will cease to hold voting rights:

n/a

13. Additional information:

Calcualtions based on total voting rights of 115,305,126

14. Contact name:

Dipesh Varsani/Mark Thomas

M&G Investment Management Limited

15. Contact telephone number:

020 7548 3261 / 020 7548 3266

This information is provided by RNS The company news service from the London Stock Exchange

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