The FTSE 100 index gained about 12 points to 4,396 this morning as insurance stocks surged when Aviva said it would beat expectations on operating profit.
The stock added 29.75p, or nearly 6% to 529.25p. Legal & General added 3p to 100.25p, while Friends Provident gained 3.75p to 142.75p. Royal & Sun Alliance gained 2p to 96.25p, and Prudential added 9.25p to 495.25p. Reckitt Benckiser added 20p to 1,372p after Moody’s Investors Service raised its rating on some $100m of the company’s debt to ‘A3’ from ‘Baa1’. Allied Domecq rose 6p to 445p after JPMorgan raised its target shareprice on French Competitor Pernod Ricard. ITV fell 3p to 133.5p after a downgrade by analysts at Goldman Sachs. Vodafone is down 2.25p to 132p on expe...
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