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Die Legal & General Group (LON:LGEN) nutzte ihre 2026er Jahreshauptversammlung, um Fortschritte in ihrer Strategie zur Einfachheit, Wachstum und Verbesserter Vernetzung zu hervorzuheben. Sie markierte auch wichtige Führungswechsel auf der Vorstandsebene und im Exekutivbereich.

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This article first appeared on GuruFocus.

BP Plc (NYSE:BP) is approaching a key shareholder vote with incoming Chairman Albert Manifold appearing to line up support from at least three major investors, including Norway's $2.2 trillion sovereign wealth fund. Two additional large shareholders are also expected to back the appointment, according to people familiar with the matter, which could provide a degree of stability heading into Thursday's annual general meeting. The support comes at a time when the company is attempting to reset its strategy following a turbulent period tied to earlier low-carbon investment outcomes.

Warning! GuruFocus has detected 10 Warning Signs with BP. Is BP fairly valued? Test your thesis with our free DCF calculator.

At the same time, opposition from other influential shareholders highlights ongoing governance concerns that could weigh on investor sentiment. Legal & General Group Plc has indicated it will vote against Manifold, pointing to what it described as reduced transparency and board accountability after BP declined to include a shareholder climate resolution on the ballot. Proxy adviser Glass Lewis & Co. has also recommended voting against the chairman, while supporting calls for stronger disclosure from activist-backed proposals. Additional resistance from the Local Authority Pension Fund Forum and certain US pension funds suggests the vote may remain closely contested, particularly given BP's widely dispersed ownership structure, where the top 20 investors hold less than 40% of shares.

The leadership transition is unfolding alongside mixed operational signals that could shape the investment case. BP recently highlighted an exceptional first quarter in its oil-trading division and improving refining margins as energy prices moved higher, which could be supportive for near-term performance. However, a rise in net debt may complicate efforts by CEO Meg O'Neillappointed by Manifold after the removal of Murray Auchinclossto streamline the business and rebuild investor confidence. While BP's shares have gained about 30% this year, second only to TotalEnergies among major oil companies, longer-term performance still reflects a period of underperformance, suggesting the outcome of this week's vote could be an important signal for investors assessing the company's strategic direction.

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Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE.

If you are wondering whether Legal & General Group’s current share price actually lines up with its underlying value, you are not alone. This article is built to help you stress test that question clearly. The stock has seen a 6.4% decline over the last 7 days, a 9.2% decline over the last 30 days, and is down 8.0% year to date, while the 1 year and 3 year returns stand at 9.6% and 33.1% respectively, with a 24.0% return over 5 years. Recent coverage around Legal & General often centers on its position as a large, income oriented UK financial group and how market sentiment around interest rates and insurance names can influence shorter term moves. This kind of backdrop helps frame whether the recent pullback is simply sentiment driven or points to a reassessment of long term expectations. On our checks, Legal & General Group currently records a valuation score of 2 out of 6. This means there are some signs of undervaluation but also areas where the price looks more in line with traditional models. Next, we will look at how different valuation approaches assess the shares before finishing with a broader way to think about value that ties everything together.

Legal & General Group scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.

Approach 1: Legal & General Group Excess Returns Analysis

The Excess Returns model looks at how much profit a company can generate above the return that equity investors typically require, then capitalises those surplus returns into an intrinsic value per share.

For Legal & General Group, the starting point is its book value of £0.32 per share and a stable book value estimate of £0.46 per share, based on weighted future book value estimates from 7 analysts. On this equity base, analysts expect a stable EPS of £0.27 per share, drawn from weighted future return on equity estimates from 8 analysts.

The implied cost of equity in this model is £0.03 per share, while the excess return component is £0.24 per share. That excess, together with an average return on equity of 58.80%, is what drives the model’s estimate of intrinsic value. On this basis, the Excess Returns approach points to a fair value of about £6.43 per share.

Compared with the current share price, this suggests Legal & General Group is trading at a 62.4% discount to the model’s estimate, which screens as materially undervalued.

Story Continues

Result: UNDERVALUED

Our Excess Returns analysis suggests Legal & General Group is undervalued by 62.4%. Track this in your watchlist or portfolio, or discover 8 more high quality undervalued stocks.LGEN Discounted Cash Flow as at Mar 2026

Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Legal & General Group.

Approach 2: Legal & General Group Price vs Earnings

For a profitable company like Legal & General Group, the P/E ratio is a useful shorthand for how much you are paying for each unit of earnings. It links directly to what matters most for equity holders, which is the cash the business can generate after costs.

What counts as a “normal” or “fair” P/E depends on how quickly earnings are expected to grow and how risky those earnings are. Higher growth or lower perceived risk can justify a higher multiple, while slower growth or higher risk usually points to a lower one.

Legal & General Group currently trades on a P/E of 28.60x, compared with the Insurance industry average of 11.61x and a peer average of 12.98x. Simply Wall St’s Fair Ratio for the company is 20.69x, which is its proprietary view of what the P/E “should” be after weighing factors such as earnings growth, profit margins, industry, market cap and specific risks.

This Fair Ratio framework aims to be more tailored than a simple peer or industry comparison, because it adjusts for the company’s own profile rather than assuming all insurers deserve the same multiple. Since Legal & General Group’s actual P/E of 28.60x sits above the Fair Ratio of 20.69x, the shares look expensive on this metric.

Result: OVERVALUEDLSE:LGEN P/E Ratio as at Mar 2026

P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 5 top founder-led companies.

Upgrade Your Decision Making: Choose your Legal & General Group Narrative

Earlier we mentioned that there is an even better way to understand valuation. Let us introduce you to Narratives, which are simply your own story about Legal & General Group linked directly to your assumptions about future revenue, earnings, margins and fair value. All of this is captured in an easy tool on Simply Wall St’s Community page that compares your Fair Value with the current share price, updates automatically when fresh news or earnings arrive, and lets you see, for example, how one investor might build a bullish Narrative closer to £3.40 per share while another anchors on a more cautious £2.05. This allows you to decide which story, and which valuation, feels more realistic to you.

For Legal & General Group however we will make it really easy for you with previews of two leading Legal & General Group Narratives:

🐂 Legal & General Group Bull Case

Fair value in this bullish narrative: £2.67 per share

Implied discount to fair value versus the last close of £2.41: about 9.6% undervalued

Analyst revenue outlook used in this narrative: 5.46% annual decline

Analysts link long term demand for retirement and pension solutions to ageing populations and growth in defined contribution schemes, which shapes expectations for assets under management and fee income. The narrative highlights a focus on alternatives, infrastructure and ESG related products, along with digital transformation and cost discipline, as factors that could support higher margins and more efficient operations. On these assumptions, the analyst consensus price target sits at £2.67, with a range from £2.10 to £3.35. Investors are encouraged to test whether the revenue, margin and P/E assumptions line up with their own view of the business.

🐻 Legal & General Group Bear Case

Fair value in this bearish narrative: £2.05 per share

Implied premium to fair value versus the last close of £2.41: about 17.6% overvalued

Analyst revenue outlook used in this narrative: 5.31% annual decline

This more cautious narrative focuses on risks such as slower demographic growth, heavier regulation, and reliance on the UK market, which together could weigh on earnings, margins and dividend capacity over time. It also flags competition from fintechs, asset managers and private players in pension de risking and asset management, with pressure on pricing power and fees if Legal & General does not keep pace. Here, the bearish fair value of £2.05 reflects assumptions for lower future P/E multiples and a slightly higher discount rate. The underlying business case still relies on earnings progressing from today’s level.

Do you think there's more to the story for Legal & General Group? Head over to our Community to see what others are saying!LSE:LGEN 1-Year Stock Price Chart

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include LGEN.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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The latest analyst work on Legal & General Group includes a refreshed price target of £2.80, alongside a slightly higher internal fair value estimate of £2.67. Taken together with one downgrade to Neutral, this suggests analysts are rebalancing their view of potential upside against how much is already reflected in the share price. As you read on, you will see how this evolving narrative could influence the way you track Legal & General from here.

Stay updated as the Fair Value for Legal & General Group shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Legal & General Group.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

Berenberg has lifted its price target by 19 GBp, which supports the view that the firm still sees headroom between its assessment of value and where the shares are trading. The cluster of price targets around £2.67 to £2.80 suggests some analysts continue to view Legal & General as reasonably valued for its current fundamentals, rather than stretched.

🐻 Bearish Takeaways

BNP Paribas, through analyst Dominic O'Mahony, has shifted Legal & General to Neutral from Outperform with a 280 GBp price target, explicitly pointing to valuation as the key reason. The move to Neutral indicates BNP Paribas now sees a more balanced risk reward profile, with less clear upside relative to its prior stance.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!LSE:LGEN 1-Year Stock Price Chart

We've flagged 3 risks for Legal & General Group. See which could impact your investment.

What's in the News

Legal & General Group has declared a final dividend for 2025 of 15.67 pence per ordinary share, expected to be paid on 4 June 2026 and accounted for as an appropriation of retained earnings for the 2026 financial year. The company announced a partnership with Enosis Capital LLC, with a planned commitment of US$1b over five years focused on debt swaps and debt restructuring activity. The Enosis collaboration is intended to combine both firms' experience in financial services and capital management to support debt optimization for participating entities, while expanding Legal & General Group's presence and capabilities in the debt market.

How This Changes the Fair Value For Legal & General Group

Fair Value has been updated to £2.67 from £2.65 in the latest model. Revenue Growth is now set at a 5.46% decline, compared with a 5.16% decline previously. The Net Profit Margin assumption has been refined to 13.87% from 13.69%. The Future P/E has been adjusted to 13.02x from 12.68x. The Discount Rate has moved to 7.20% from 7.07% in the updated assumptions.

Story Continues

Never Miss an Update: Follow The Narrative

Narratives link a company's real world story to a financial forecast and fair value, so you can see how headlines connect to long term assumptions. They update automatically when new data, estimates, or risks come through.

Head over to the Simply Wall St Community and follow the Narrative on Legal & General Group to stay up to date on:

How ageing populations, pension system growth and a £42b bulk annuity pipeline feed into expectations for retirement solutions and asset management flows. The role of alternatives, private markets, ESG offerings and digital transformation in shaping revenue mix, fee income and cost efficiency. Key risks from competition in bulk annuities, regulatory change, reliance on demographic trends and the execution needed to grow higher margin, capital light businesses.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include LGEN.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St.

Legal & General Group (LSE:LGEN) is back on many investors’ radars after recent share price softness, with the stock showing negative returns over the past week, month and past 3 months.

See our latest analysis for Legal & General Group.

While the recent 1 day share price return of a 6.77% decline at £2.41 and weaker 7 and 30 day share price returns suggest pressure is building in the short term, the 1 year and 5 year total shareholder returns of 9.85% and 26.42% respectively point to a still constructive longer term picture.

If this pullback has you thinking about where else income focused capital might work, it could be a good time to scan 5 top founder-led companies as potential long term compounders.

With the share price under pressure despite positive multi year total returns and an indicated discount to some analyst and intrinsic estimates, is Legal & General quietly undervalued here, or is the market already factoring in its future growth?

Most Popular Narrative: 9.6% Undervalued

On the most followed narrative, Legal & General Group's fair value of £2.67 sits modestly above the £2.41 last close, framing a mild undervaluation story.

The analysts have a consensus price target of £2.667 for Legal & General Group based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of £3.35, and the most bearish reporting a price target of just £2.1.

Read the complete narrative.

Curious what kind of revenue path, margin uplift and future P/E multiple need to line up to make that fair value work on a 7.20% discount rate? The full narrative lays out those moving parts in detail, including how earnings and share count are expected to evolve to support that valuation.

Result: Fair Value of £2.67 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, you still need to weigh up the possibility that fiercer competition in bulk annuities and tighter regulation could pressure margins and unsettle those fair value assumptions.

Find out about the key risks to this Legal & General Group narrative.

Another Valuation Check: Earnings Multiple Sends A Different Signal

So far the story leans on fair value models that point to Legal & General looking undervalued, but its current P/E of 52.4x tells a very different story when you line it up against peers at 13.1x and the wider European insurance group at 12.6x.

Story Continues

That gap suggests the market is already paying a hefty premium for Legal & General's earnings, which raises the question of whether you see a rare opportunity or a lot of valuation risk if expectations reset closer to the pack.

See what the numbers say about this price — find out in our valuation breakdown.LSE:LGEN P/E Ratio as at Mar 2026

Next Steps

If the mixed signals so far leave you unsure, it helps to look at the full picture yourself and decide where you stand. Our data highlights both risks and rewards for Legal & General, so check the 2 key rewards and 3 important warning signs before you firm up your view.

Looking for more investment ideas?

If this story has sharpened your thinking, do not stop here, the best opportunities often show up where others are not yet looking.

Target reliable income by scanning 4 dividend fortresses that could help anchor your portfolio with stronger yield support. Hunt for quality on sale by reviewing our 6 high quality undervalued stocks that pair solid fundamentals with attractive pricing. Stay on the front foot by checking a 3 resilient stocks with low risk scores that may offer steadier returns when sentiment swings.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include LGEN.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Legal & General Group logo

Key Points

Legal & General delivered a "strong 2025" with core operating EPS up 9%, core operating profit of £1.6bn, a pro forma Solvency II coverage ratio of 210% after selling its U.S. protection business to Meiji Yasuda for $2.3bn, and announced a 21.79p dividend plus a £1.2bn share buyback (its largest ever). CEO António Simões is executing a portfolio simplification strategy — including £1.5bn of disposals via the Corporate Investments Unit and the U.S. protection sale tied to a strategic partnership and a 5% Meiji Yasuda stake — and management says CIU-related negatives should be “zero going forward.” Business momentum is led by Institutional Retirement (annuity portfolio £75bn; ~£12bn PRT written in 2025, c. 25% UK market share), while Asset Management is at an “inflection point” with £402m profit in 2025 and a target of £500–600m by 2028; the group also set a medium-term Solvency II coverage range of 160%–190% and noted pro forma debt leverage of 33% that should decline over time. Interested in Legal & General Group Plc? Here are five stocks we like better.

Legal & General Group (LON:LGEN) used its full-year 2025 results presentation to emphasize continued earnings growth, a strengthened capital position following the sale of its U.S. protection business, and a stepped-up capital return program that includes its largest-ever share buyback.

Chief executive António Simões said the group delivered “a strong 2025” with core operating EPS up 9%, at the top end of its guided 6% to 9% range. Solvency II operational surplus generation (OSG) rose 5% to £1.5 billion, while OSG per share increased 8%. The group reported a Solvency II coverage ratio of 210% on a pro forma basis after completing the sale of its U.S. protection business to Meiji Yasuda for $2.3 billion.

→ 3 European Stocks for Riding Out Market Volatility

Legal & General increased its dividend per share by 2% to 21.79p and announced a £1.2 billion share buyback. Simões described the buyback as the largest in the company’s history, following a £500 million buyback in 2025 and a £200 million buyback in 2024.

Strategic shift: non-core disposals and simplified portfolio

Simões framed the update as the culmination of a strategy launched when he became CEO in 2024, focused on “disposing of non-core assets, establishing rigorous capital discipline, and putting in place a refreshed leadership team.”

→ Credo Technologies Hits Bottom: Now Is the Time to Buy

He highlighted several actions:

Completion of the sale of the U.S. protection business to Meiji Yasuda, alongside a growing strategic partnership in which Meiji Yasuda is building a 5% shareholding in the group. Since establishing the Corporate Investments Unit (CIU) in the second half of 2024, completion of £1.5 billion of asset disposals.

Story Continues

During Q&A, management said it is “drawing a line” on further transfers into the Corporate Investments Unit and expects CIU-related negatives to be “zero going forward,” while noting transformation and restructuring costs would continue.

Business performance: Institutional Retirement leads, Asset Management “inflection point,” Retail growth

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New CFO Andrew Kail, presenting his first results in the role, reported core operating profit up 6% to £1.6 billion. He said operating profit increased in Institutional Retirement and Retail, while Asset Management operating profit was “broadly stable” but at an “inflection point” that management expects will translate into improved results in 2026.

Institutional Retirement operating profit increased 6% to £1.2 billion. The annuity portfolio grew to £75 billion, up 12%, driven by pension risk transfer (PRT) flows. Legal & General wrote close to £12 billion of PRT in 2025, including more than £10 billion in the UK, which Kail said represented about 25% market share. Management cited an active UK pipeline of £17 billion and said it had “line of sight” of more than 10 schemes exceeding £1 billion. Asset optimization in Institutional Retirement contributed £258 million, more than double the prior year.

Asset Management operating profit was £402 million. Revenues grew 4% to over £1 billion, aided by a higher fee margin of 9.1 basis points, up from 8.8 basis points. Expenses increased 5% as the company invested in growth initiatives and its platform, resulting in a cost-income ratio of 75%. Management reiterated a profit target for Asset Management of £500 million to £600 million by 2028, but said balance sheet investments are now expected to contribute £80 million to £100 million of profit—about £50 million lower than previously guided—reflecting a pivot toward fee earnings and a portfolio review that moved roughly £200 million of assets into the Corporate Investments Unit.

Retail operating profit increased 4% to £447 million, helped by higher releases and an expected investment margin, as well as £73 million of asset optimization. Workplace defined contribution (DC) assets grew 21% to £114 billion, and the company noted £3.7 billion of scheme wins expected to be onboarded over the next 12 months. In retail annuities, Legal & General wrote £1.8 billion of new business, with management pointing to acceleration in the second half and a strong start to 2026.

Capital, solvency, and the new coverage range

One of the key new disclosures was management’s medium-term Solvency II coverage target operating range of 160% to 190%. Kail said the company expects to deploy capital to support growth ambitions and move into that range from the current level.

In Q&A, management stressed that reaching the lower end of the range is not an automatic trigger for capital actions and said the dividend remains sustainable even at a lower ratio. Kail added that actions could include adjusting the level of new business written depending on the strain environment, but the firm expects to continue writing business within the target range.

Kail also noted that debt leverage increased to 33% on a pro forma basis following the sale of U.S. Protection and the related buyback, but said it remains within comfort levels and is expected to decline over time as own funds grow. Management said rating agencies currently have the group on strong ratings with stable outlooks.

Explaining investment variances and ongoing costs

Management devoted significant time to explaining investment variances, which Kail said were “improved compared to recent years” but still material at £771 million in 2025. He argued that not all adverse variances erode long-term value and broke the drivers into categories including modeling and assumption changes, market impacts on the annuity portfolio, shareholder fund performance versus long-term assumptions, and revaluations in sectors such as commercial real estate and venture capital.

Kail said the company has seen no defaults in the annuity asset portfolio since 2008, when defaults were “extremely small” at £25 million, and that 99% of the portfolio is investment grade. He also said the group’s long-term expected blended return assumption is around 6%, including cash.

Separately, Kail said the company incurred close to £200 million of M&A, restructuring, and transformation costs outside operating profit in 2025, and he expects costs in that line to remain around £100 million to £200 million per year over the next two years.

Looking to 2026, Simões said the company expects another year of core operating EPS growth at the top end of the 6% to 9% target range, citing momentum across Institutional Retirement, Asset Management, and Retail.

About Legal & General Group (LON:LGEN)

Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates in Legal & General Retirement Institutional (LGRI), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), and Retail segments. The LGRI segment offers annuity contracts with guaranteed income for a specified time; and longevity insurance products. The LGIM segment offers index fund management; active fixed income funds and liquidity funds; active equity management; solution and liability driven investment; multi-asset funds; corporate pension scheme solutions; and real assets.

The article "Legal & General Group H2 Earnings Call Highlights" was originally published by MarketBeat.

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The stock was one of the worst performers of the FTSE 100 after the group reported full-year results, with some key metrics coming short of market views.

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The FTSE 100 (^FTSE) and European stocks fell as investors assess the evolving situation in the Middle East.

Overnight, the US released footage of what it says are attacks on several Iranian vessels. US Central Command said the targets "eliminated" 16 mine-layers near the Strait of Hormuz.

The Strait — a key shipping route — has become a focal point of the conflict, with oil prices sent on a roller coaster amid reports of its closure.

Earlier this week, brent crude futures (BZ=F) rocketed close to the $120 per barrel mark, before cooling. On Wednesday morning the price was around $86 per barrel. West Texas Intermediate futures (CL=F) were also around $85.69 per barrel.

Conflict in the Strait has also caused a sharp rise in liquefied natural gas (NG=F) prices, and blocked the shipping of key fertilisers which it is feared could cause knock-on inflationary effects in food prices.

The Wall Street Journal reported that the International Energy Agency proposed the largest release of oil (BZ=F, CL=F) reserves in its history in an attempt to cool oil prices. The release could be more than the 182m barrels of oil sent into supply in the wake of the Russian invasion of Ukraine in 2022.

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Market movers

The FTSE 100 dipped 0.8% after the opening bell in London. The top faller was Legal & General (LGEN.L), down more than 5% in early trade as investors parse results. Mining stocks also pulled the index lower. The more domestically focused FTSE 250 (^FTMC) fell 0.4%. Construction firm Balfour Beatty (BBY.L) was a bright spot in the index, up more than 10% following its latest set of results. Over in Germany, the DAX (^GDAXI) sold off 1.2%. Defence firm Rheinmetall (RHM.DE) dipped 5.2% despite reporting a rise in sales and a forecasted sales growth of 40% to 45% in 2026. France's CAC 40 (^FCHI) dipped 0.7%. The pan-European STOXX 600 (^STOXX) fell 0.8%. The pound hovered against the dollar (GBPUSD=X), still trading above the $1.34 mark. The dollar index (DX-Y.NYB), which tracks the greenback against a basket of currencies, gained 0.1%.

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Shares jumped over 10% in premarket trading on Wednesday after the results.

The announcement comes amid reports that the company has axed plans to expand an AI data centre with OpenAI (OPAI.PVT) and that it’s preparing to cut thousands of jobs.

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Gatwick airport suffered a fall in profits last year as it was hit by a drop in short-haul flight passengers.

The West Sussex airport reported pre-tax profits of £422.9m in 2025, down 7.3% from £456.4m in the previous year.

It said 42.8m passengers travelled through its two terminals last year, which was a 1.1% year-on-year decline.

This was driven by a 1.9% drop in passengers on short-haul flights, which it attributed to “temporary issues related to aircraft availability”.

Manufacturer Airbus blamed its failure to deliver as many new aircraft to airlines as expected last year on shortages of Pratt & Whitney engines.

Gatwick said it recorded “particularly strong growth” in long-haul markets such as Sub-Saharan Africa (up 22%), the Far East and south Asia (up 24%) and the Middle East and central Asia (up 17%). 45 mins ago

Lucy Harley-McKeown

Balfour Beatty shares jump

FTSE 250 company Balfour Beatty saw its shares gain in early trade after it forecast growth in its profit from operations. Upcoming projects include a number in the UK power sector including in nuclear.

It also announced a £200m share buyback alongside a 12% increase in full-year dividends.

Underlying profit from operations from earnings-based ​businesses rose 16% to £293m ($393.6m). Today at 8:16 AM UTC

Lucy Harley-McKeown

Oil whiplash

Oil prices fell Tuesday following a now-deleted social media post by Energy Secretary Chris Wright, which claimed the US had escorted an oil tanker through the Strait of Hormuz.

Futures for West Texas Intermediate (CL=F) dropped to as low as $76.73 per barrel before settling about 12% lower. Brent (BZ=F) crude declined more than 11%. Both oil benchmarks subsequently saw gains of over 4% in overnight futures trading.

NY Mercantile - Delayed Quote•USD

(CL=F)

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88.13 +4.68 (+5.61%)

As of 5:39:55 AM EDT. Market Open. CL=FBZ=F

Advanced Chart Today at 8:15 AM UTC

Lucy Harley-McKeown

US stock futures little changed ahead of inflation report

Our US team writes:

US stock futures were little changed Tuesday evening as investors braced for a closely watched inflation report that could help shape expectations for the economy and Federal Reserve policy.

Futures linked to the Dow Jones Industrial Average (YM=F) rose 0.2%. Contracts on the S&P 500 (ES=F) and Nasdaq 100 futures (NQ=F) made 0.2% gains. Today at 8:09 AM UTC

Lucy Harley-McKeown

Good morning!

Hello from London. Lucy Harley-McKeown here with another jam-packed day ahead.

Today we'll be watching the US consumer price index for hints about inflation — that has the potential to move indexes more than anything else currently slated.

Also: chancellor Rachel Reeves will be defending her (rather benign) spring statement in a select committee.

The House of Lords select committees will be discussing stablecoins and the potential for crypto in the UK.

Oil has been a hot topic over the last two weeks, with brent crude breaking the $100 a barrel mark — that's why the OPEC monthly oil markets report will be one to watch.

On the earnings calendar:

UK: Legal & General (LGEN.L), Balfour Beatty (BBY.L), 4Imprint (FOUR.L), Gym Group (GYM.L), London Gatwick Airport

Europe: Rheinmetall (RHM.DE), Porsche (P911.DE)

US: The Campbell’s Company (CPB)

Asia/RoW: Foxconn (FXCOF) and Cathay Pacific (0293.HK)

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Zusammenfassung (ca. 500 Wörter)

Dieser Artikel analysiert Legal & General Group Plc (LGEN) auf der Grundlage von Insider-Transaktionen. Der wichtigste Erkenntnis ist, dass die jüngsten Käufe durch Laura Wade-Gery, einen Nicht-Vorstandsmitglied, eine positive Einschätzung durch die Unternehmensleitung signalisieren. Wade-Gery hat für 974.000 £ an Aktien bei einem durchschnittlichen Preis von 940 £ ausgegeben, was einen Anstieg ihrer Beteiligung um 2,0 % darstellt.

Der Artikel betont die Bedeutung von Insider-Käufen. Im Allgemeinen wird angenommen, dass die Übernahme von Aktien zu Preisen über dem aktuellen Marktwert ein bullisches Signal ist – was darauf hindeutet, dass sie glauben, dass der Aktienkurs steigen wird. Dies gilt insbesondere, wenn es sich um eine große Transaktion wie die von Wade-Gery handelt.

Darüber hinaus hebt der Text hervor, dass Legal & General Group-Insider in den letzten zwölf Monaten keine Aktien verkauft haben. Stattdessen haben sie durchschnittlich 19,02 £ pro Aktie ausgegeben, was weiterhin auf ihr Vertrauen hindeutet.

Der Artikel untersucht die Beteiligung der Insider. Derzeit besitzen Insider etwa 0,07 % der Aktien von Legal & General Group im Wert von 9,2 Millionen £. Obwohl dies als „gut, aber gerade nicht herausragend“ angesehen wird, deutet es dennoch auf eine angemessene Ausrichtung der Interessen zwischen der Unternehmensleitung und den Aktionären hin.

Der Text erkennt an, dass Insider-Transaktionen wertvolle Einblicke bieten und zur Entwicklung einer Anlagehypothese beitragen. Es warnt jedoch weise davor, dass Insideraktivitäten allein keinen zukünftigen Erfolg garantieren. Es wird die Bedeutung der Berücksichtigung potenzieller Risiken für das Unternehmen hervorgehoben. Es wird ein weiterer Warnhinweis gegeben, um 2 Warnzeichen bezüglich Legal & General Group zu berücksichtigen.

Die Analyse deutet auf eine vorsichtig optimistische Sichtweise auf Legal & General Group hin. Während es die moderate Beteiligung der Insider anerkennt, deutet die Geschichte von Insiderkäufen – insbesondere der bedeutende Kauf durch Wade-Gery – zusammen mit der Abwesenheit von Verkäufen auf ein gewisses Maß an Vertrauen in die Zukunftsaussichten des Unternehmens hin.

Der Text schließt mit der Wiederholung, dass diese Analyse auf historischen Daten und Analystenprognosen basiert und keine Finanzberatung darstellt. Er stellt klar, dass die „Insider“, auf die sich bezieht, diejenigen sind, die ihre Transaktionen an Aufsichtsbehörden melden, und betont die Position von Simply Wall St – dass sie keine Position in Aktien hält, die erwähnt werden.