Standard Life does not expect a planned issue of bonus shares to investors to spark a damaging stock sell-off next month, reports The Scotsman.
The Edinburgh-based firm ended eight decades of mutual status when it listed last year, and will hand out a 10 per cent bonus next month to retail investors who have held their shares for a year.
Trevor Matthews, chief executive of Standard Life Assurance, the group's core life and pensions business, yesterday said: "Some people will sell, but we don't expect a massive flood of shares. In line with other demutualisations, the actual outflow won't be dramatic.
"We still have about 65 per cent of the register in retail hands, so access to stock is an issue for some institutions."
HBOS IS LAUNCHING A range of new, tactically priced mortgages every three or four weeks as it fights to regain its crown as the country's biggest mortgage lender, reports The Guardian.
The bank admitted yesterday that its share of new mortgage business had more than halved to 8% in the first six months of the year - its lowest level for seven years.
Halifax, owned by HBOS, has traditionally enjoyed a market share of 21% of home loans but it made a series of pricing errors in the first part of the year that led to lower sales.
INFLATION HAS FALLEN TO THE LOWEST level in seven months, but middle class families may still be facing annual price rises of more than 7pc, according to new figures compiled for The Telegraph.
The inflation rate, as measured by the consumer price index, dropped from 2.8pc to 2.5pc in May, the Office for National Statistics said. It was the smallest annual increase since last October.
However, economists warned that the fall was largely due to a temporary effect caused by falling utility prices, and said prices could bounce back in the coming months.
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