Esure shares recover some ground after Gocompare demerger

Esure shares recovered some ground in early trading this morning after yesterday’s precipitous fall, following the demerger of Gocompare.com.

Shortly after trading opened on the London Stock Exchange today, Esure shares were up 3 pence at 199.

That follows a 27% fall in the insurer’s share price yesterday after it spun off the price comparison site.

Yesterday’s fall was slightly less sharp than analysts had predicted from the demerger. The consensus estimate was for Esure shares to fall to 190 after the value of Gocompare was stripped out.

In the demerger, Esure shareholders received one new share in Gocompare for each share they owned in Esure.

Gocompare shares rose to 76 pence in early trading yesterday, but settled back to close at 72. They were unchanged in early trading.

The combined value of Esure and Gocompare shares this morning is just over 1% higher than Esure’s value just prior to the demerger.