Monday January 12, 12:29 PM
Glance-STOCKS NEWS EUROPE-Amlin slides; Broker "hold", update "inline"
STOCKS NEWS Reuters Results diary
Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
12:12GMT 12JAN2009-Amlin (LSE: AML.L - news) slides; Broker 'hold', update 'inline'
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Shares in Lloyds of London insurer Amlin fall 4.3 percent to
357 pence as traders lock in profits following the company's trading update,
which Credit Suisse calls 'inline', while repeating its 'hold' rating and 346
pence target price.
'The stock has performed strongly over recent weeks,' says Credit Suisse in
a note.
'Historically the stock has sold off after its January trading statement,
and given its 32.5 percent outperformance over the past 3 months, investors may
be tempted to take profits at this point,' the broker adds.
Credit Suisse says overall the performance was inline with its expectations,
'with the exception of investment income which may be a bit light versus our
estimates'.
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