News

Sector movers: Aviva profit rise boosts insurers

30 July 2008 14:08:00

Life insurance companies are going well after Aviva posted a 12% rise in half year profit and said it remains confident about the group's future prospects.

Aviva also announced that it would make a £1bn offer to eligible policyholders to reattribute surplus money in the funds over the years, known as the inherited estate.

Aviva gains almost 10%, while Legal and General, Friends Provident, Old Mutual, Standard Life and Prudential also advance. Irish Life and Permanent is up by nearly 15%.

Electicity is the only sector posting losses after Clipper Windpower's prediction that net losses for 2008 will be about the same as last year's £192.48m took the shine off news that it will set up a big joint venture with oil major BP. Power generator Drax also loses value, as does British Energy.

Top performing sectors so far today
Life Insurance 4,019.90 +5.75%
Forestry & Paper 2,752.10 +4.39%
Technology Hardware & Equipment 198.50 +4.09%
Insurance (non-life) 1,097.20 +3.54%
General Financial 6,796.70 +3.51%

Bottom performing sectors so far today
Electricity 7,799.90 -0.19%

All data suppied by Digital Look (15 minute delay)




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