Old Mutual oml now on the base line of an uptrend channel looks like it can do well over the months to come on the back of the rising optimism for financial stocks.

As resistance at 105p first and then 135p to negotiate.

Lower indicators RSI and ATR look positive.

22 February 2012

Old Mutual offer for Oceanic Life

Old Mutual plc today announces that a preliminary non-binding offer has been accepted by Ecobank Transnational Incorporated (ETI) for the acquisition of Oceanic Life, which was acquired by ETI in October 2011 as part of the Oceanic Bank Group.

Old Mutual and ETI are currently negotiating and finalising the relevant legal agreements; these agreements will incorporate the required conditions precedent for the transaction, including the relevant regulatory approvals from both a South African and Nigerian perspective.

Oceanic Life is a Nigerian life assurance company with a market share of 1.8% and a Net Asset Value of
US$16 million.

The acquisition would form part of Old Mutual's stated strategy of expanding its presence in sub-Saharan Africa.

Old Mutual plc


NEDBANK GROUP - AUDITED SUMMARISED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011

Old Mutual plc announces that its majority-owned South African banking subsidiary Nedbank Group Limited ("Nedbank Group") released its audited summarised financial results for the year ended 31 December 2011 today, 29 February 2012.

The following is the full text of Nedbank Group's announcement:

"'Nedbank Group performed well in 2011, achieving a record level of headline earnings, but more work lies ahead to meet all medium-to-long-term financial targets.

These results were underpinned by continued delivery on our key strategic focus areas of repositioning Nedbank Retail, growing non-interest revenue (NIR) and implementing the portfolio tilt strategy. In the rest of Africa we deepened our strategic alliance with Ecobank by providing a facility in support of Ecobank's corporate development programmes, including its transformational banking acquisition in Nigeria, and in so doing secured rights to acquire up to 20% of Ecobank Transnational Inc within two to three years.

Despite the challenging environment, Nedbank Group is well positioned to build on the momentum from 2011 and meet its medium-to-long-term earnings growth target once again in 2012.'

Mike Brown
Chief Executive


Highlights

Headline earnings R6 184m up 26,2%
Diluted headline earnings per share 1 340 cents up 25,4%
Strong NIR growth R15 412m up 16,6%
Headline profit before tax increased 31,9%
ROE (excluding goodwill) increased to 15,3% (2010: 13,4%)
Capital adequacy further strengthened (core Tier 1: 11,0%)
Full-year dividend per share of 605 cents, up 26,0%

Update on Proposed Sale of Old Mutual's Nordic Business

Old Mutual plc ("Old Mutual") announced on 15 December 2011 that it had entered into an agreement to sell its Nordic business, comprising Old Mutual's long-term savings and banking operations in Sweden, Denmark and Norway, to Skandia Liv (the "Disposal").

Old Mutual welcomes the announcement this morning of regulatory approval for the Disposal from the Swedish Financial Supervisory Authority. Danish regulatory approval for the sale was confirmed on 2 March 2012.

Completion of the Disposal now remains conditional only on approval by Old Mutual shareholders at the General Meeting on 14 March 2012. Subject to that approval being given, completion of the sale is expected to occur on or around 21 March 2012.

We have today also announced a trading update on the Nordic business, which confirms that it has continued to benefit from its product depth and good operational performance. The trading statement is set out in the Appendix to this announcement.

As previously indicated, Nordic will be treated for accounting purposes as "held for sale" in our 2011 preliminary results, which will be released tomorrow. It will thus be excluded from Adjusted Operating Profit and reported under IFRS. We will also report on our cost savings and RoE targets excluding Nordic going forward.

Preliminary Results part 1.


Strong financial performance
· Profits up 14% at £1,515 million
· EPS up 13% to 15.7p
· Ordinary dividend up 25% to 5.0p
Positive foundation for growth
· Selected, high-return emerging markets: increasing Africa presence anchored by three strong South African businesses
· Low-risk, modern European business: leading UK platform, £20.1 billion FUM at 29 February, well positioned for Retail Distribution Review
· Our FGD surplus of £2.0 billion and liquidity headroom of £1.5 billion enables us to invest for profitable growth and reward shareholders
Strategic activities continue to pay dividends for shareholders
· Disposal of Nordic and Finnish businesses; closure of Switzerland to new business; disposal of Dwight and OMCAP
· Proposed special dividend of 18p; 7 for 8 share consolidation
· On track to meet or exceed all our 2012 targets

Telegraph – 21 minutes ago
Back in March 2009, Old Mutual (LSE: OML.L - news) was what you might call an undesirable investment.

Old Mutual

164.6p

Questor says BUY

The financial conglomerate had scrapped its dividend after running into difficulties linked to an overzealous acquisition drive and looked set for a tough few years as it grappled with a complex, sprawling structure.

Since then, the FTSE 100 (Euronext: VFTSE.NX - news) group's management team led by chief executive Julian Roberts has slimmed down the business, exited markets and taken steps to pay down debt.

Last year, Old Mutual saw operating profits rise 14pc to £1.5bn, allowing the company to announce earnings per share up 13pc to 15.7p and a total dividend up 25pc to 5p.

Curiously, Mr Roberts said the group is also poised to expand its interests in Africa, close to its domestic base of South Africa. The move is being designed to take advantage of high-growth economies such as Nigeria, where market penetration is low for financial providers such as Old Mutual.

Old Mutual's shares have risen by almost 20pc over the past year, against a flat FTSE 100. The group currently yields an attractive 3pc a figure forecast to grow to more than 3.4pc over the next year.

The shares are a classic recovery play and should continue to benefit as its structure is simplified. Its (Euronext: ALITS.NX - news) focus on Africa should also entice daring investors.

..

Interim Management Statement.

Business improvement continues

· Funds under management in core operations up 6% to £284.2 billion

· NCCF of £3.7 billion, USAM NCCF £2.5 billion

· Sale of Nordic completed for £2.1 billion

Interim Results part 1

Thankyou "skinny" for all your help.

Nedbank Group - Third Quarter 2012 Trading Update

Nedbank Group Limited ("Nedbank Group"), the majority-owned South African banking subsidiary of Old Mutual plc, released their third quarter 2012 trading update today, 29 October 2012.

The following is the full text of Nedbank Group's announcement:

""Against the background of a slowdown in global economic growth and an increasingly challenging economic environment in South Africa, Nedbank has continued to focus on delivering on its key strategic focus areas.

Our balance sheet remains well capitalised and liquid, and we are delivering sustainable value to all our stakeholders comprising staff, clients, shareholders, regulators and communities. In this regard we fully support initiatives to ensure responsible lending by all service providers in the unsecured lending market.

Importantly, the group is still on track to achieve its earnings growth target in 2012, notwithstanding the more challenging economic environment".

Interim Management Statement

Further strategic progress and a resilient operational performance

· Funds under management in core operations up 4% to £263.3 billion
· Q3 NCCF outflows narrowed to £(0.5) billion from £(5.4) billion
· Continued business improvement and strategic delivery:

o £1.5 billion debt repayment target met;
o Further repositioning of USAM affiliate portfolio;
o Reorganisation of Old Mutual Wealth;
o Finnish sale completed; Austrian and German operations closing to new business;
o Terms agreed for Nigerian P&C acquisition from Ecobank for around $20 million.

Breakout.......

OML Old Mutual

Broker Buy List.......

Date Company Name Broker Rec. Price Old target price New target price Notes

20 Nov Old Mutual PLC Deutsche Bank Buy 182.65 195.00 195.00 Reiterates
20 Nov Old Mutual PLC UBS Buy 182.65 205.00 205.00 Retains
14 Nov Old Mutual PLC RBC Capital Markets Sector Performer 182.65 - - Reiterates
07 Nov Old Mutual PLC Shore Capital Hold 182.65 - - Reiterates
06 Nov Old Mutual PLC JP Morgan Cazenove Overweight 182.65 192.00 186.00 Reiterates
12 Oct Old Mutual PLC Goldman Sachs Buy 182.65 208.00 227.20 Retains

Come on you little bastards.

I think this share appears undervalued

24-Jan-13 Deutsche Buy 186.80p 205.00p 205.00p Reiteration
20-Nov-12 UBS Buy 170.10p 205.00p 205.00p Reiteration

Black Rock have raised their hold in shares and CFDs on 18-1-2013 to 244,654,440 (5.00%)


Earnings forecasts seem to vary from one analyst to another.



Date / Time: 25/01/2013 / 10:32

Bid price: 187.00 p
Offer price: 187.20 p

Dividend price: 1.75
Dividend- Ex-date: 24-Oct-12
Dividend yield: 2.68%
Dividend cover: 2.16

Latest P/E: 17.30 Project/e 10.48
Latest PEG: N/A

Market Cap: £9,160.06m
Volume: 839,284


I have bought a few SB and have a holding as shares but DYOH.






">

This one is beginning to show promising signs of life.

Maybe based on :

http://www.digitallook.com/news/2771/Is_Now_The_Time_To_Buy_Old_Mutual_.html?storysrc=motleyfool

Preliminary Results Part 1

Strong financial performance

· IFRS AOP up 18% to £1,614 million, driven by strong performance in Emerging Markets and Nedbank
· Positive Group NCCF at £5.0 billion, FUM at £262.2 billion
· Proposed final dividend of 5.25p; total dividend of 7.00p; up 2.00p or 23% in cash terms
· Targeting dividend cover of 2.25x IFRS AOP earnings in future
A reshaped business
· 2010 targets achieved: £1.52 billion of debt repaid; £133 million of cost reductions; LTS ROE of 20%
· Strong capital position; a significantly de-risked business
Focused on growth
· Broad exposure to fast growing South African emerging middle-class
· Good progress on growing our African footprint; R5 billion set aside to support this growth
· Targeting £300 million AOP from Old Mutual Wealth by 2015 (2012 AOP: £195 million)

Nedbank Group - First Quarter 2013 trading update

Nedbank Group Limited ("Nedbank Group"), the majority-owned South African banking subsidiary of Old Mutual plc, released its first quarter trading update today, 3 May 2013.

The following is the full text of Nedbank Group's announcement:

""Nedbank Group produced a solid performance in the first quarter of 2013, maintaining momentum in transactional NIR growth and expansion of the net interest margin. The adverse trend in the last quarter of 2012 of elevated consumer indebtedness and concerning unsecured lending market dynamics continued into 2013, leading to higher levels of retail impairments compared to the first quarter of 2012.

In line with one of our strategic focus areas of expansion into the rest of Africa, we have entered into an agreement, subject to the required regulatory approvals, to acquire an initial 36% share in Banco Unico with the stake increasing to a majority shareholding over time. Banco Unico is the sixth largest bank in Mozambique and strengthens Nedbank Group's position in SADC and East Africa.

Although we are cautious in our outlook for the year, Nedbank Group remains on track to achieve its medium to long term earnings growth target in 2013."

Interim Management Statement

A good first quarter with positive NCCF in all businesses

· Funds under management up 7% to £288.4 billion
· Net Client Cash Flow of £3.9 billion, representing an annualised 6% of opening FUM
· Gross Sales are up 14% in the life and savings businesses
· Africa expansion progress:
o Nigerian life insurance business gaining customers and recording sales for the first time
o Terms agreed for Nigerian general insurance acquisition
o Nedbank acquires a stake in a Mozambican bank

#.#

I added a small amount of these to IsA and SBs. to-day and few days ago.



I think chart shows a double bottom and MACD is positive.

Also think reported Fundamentals support price 195 - 205 +

Looks OK/

But DYOH