The latest ups and downs on the stock market
Aviva’s stock fell back to earth on Monday after rumours that it had turned from prey to predator prompted a sharp jump in its stock price at the end of last week. The stock closed at £452.50 last Thursday following talk of a £7bn bid for biggest rival RSA, up 4% from the previous day’s close of £434.90. However, the stock closed on Monday at £442.80.
Panmure Gordon analyst Barrie Cornes said the rumoured £7bn equated to roughly £2.08 a share, compared with the current price of £1.35-£1.36.
Brightside’s announcement that its full-year 2010 results would be in line with expectations appear to have boosted the broking group’s share price. Meanwhile, Hiscox’s recent announcement last Wednesday of catastrophe and weather losses seem to have taken some of the sheen off the company’s stock price.
Prices
Market indices Movers price 7-day Currency
FTSE 100 5,862.94 RSA 135.90 +0.67% Dollar 1.58
FTSE 250 11,471.51 Brightside 36.00 +1.12% Euro 1.16
FTSE All-share 3,044.27 Hiscox 376.20 -1.39% Yen 130.07
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