Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter