Shares in Royal & SunAlliance were hit this morning...
Shares in Royal & SunAlliance fell this morning after surging yesterday on news that the insurer is to cut 1,000 jobs in the UK.
Prices retreated as investment banks, Merrill Lynch and Williams de Broe issued 'sell' recommendations on the stock.
Yesterday's announcement caused the share price to rise almost 3% from 123 to 126.50p but trading this morning saw these gains completely reversed.
