PLUS news 11/03/2010
Retail-focused stock exchange PLUS has regaled investors again with news of upbeat trading volumes during January.
Corporate activity has continued to preoccupy the insurance sector. Life assurer Friends Provident’s planned £8 billion merger with Resolution Life provoked the intervention of major player Hugh Osmond of Pearl Group and drew, from Swiss-based Zurich Financial Services, the admission that it was examining a possible approach.
Other potential bidders are said to have included Standard Life and South Africa’s Old Mutual. French insurer Axa, whose investment arm already has a stake in Friends, is also watching events closely.
Claims of more than £400 million for the floods in June dampened interim results from L&G. Chief executive Tim Breedon said the company did not intend to make a big acquisition, in spite of the Friends/Resolution tie-up, adding that the company had seen a significant increase in the number of companies anxious to offload the risks of running occupational pension schemes onto their insurers.
£7,277 That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our April 2009 issue.
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Retail-focused stock exchange PLUS has regaled investors again with news of upbeat trading volumes during January.
The AIM All-Share index dipped and rose slightly but essentially failed to move much over the course of February, starting at 667.27 points and closing at 667.24 as the market took a breather.
Snowfall fails to help retail recovery