Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a726220

RSA Insurance tops struggling FTSE

by Chris Marshall on Jan 06, 2014 at 10:00

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 here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the shares

  • RSA Insurance Group PLC (RSA.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Fresnillo PLC (FRES.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Randgold Resources Ltd (RRS.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet