Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

RSA Insurance tops struggling FTSE

RSA Insurance tops struggling FTSE

Shares in RSA Insurance were boosted by a newspaper report that a recent accounting scandal was an ‘isolated incident’, while the broader FTSE 100 was knocked by further weak data on the Chinese economy.

Mining companies weighed in London, with Fresnillo and Randgold off around 2%, after HSBC’s services PMI for China fell to 50.9 in December from 52.5 in November. A number above 50 indicates expansion.

The UK’s blue chip index slipped 0.1% to 6,723.

RSA Insurance rose 7.1% to 98p after the Sunday Telegraph reported that an independent investigation is set to conclude that no further write-downs will be needed, when a report is published on Thursday.

The £200 million capital blackhole at RSA Group’s Irish operations was an isolated incident, accountancy firm PwC will say, according to the newspaper

Helping RSA higher, analysts at UBS raised their price target on the stock to 113p from 100p, with a buy rating.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Brewin's Foster & Gutteridge: searching for the yield of dreams

Brewin's Foster & Gutteridge: searching for the yield of dreams

Guy Foster and Ben Gutteridge discuss the latest upbeat US payroll report and how it has increased the probability of a first hike in interest rates in June.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter