Old Mutual topped the FTSE leaderboard on Wednesday as the index reversed heavy early losses.
The insurer advanced 4.4p, or 3.9%, to 117.2p after announcing a major shake-up of its management team. Following yesterday's 2.6% loss after ratings agency Standard & Poor's (S&P's) downgraded Greece's debt to ‘junk' status, the FTSE plunged a further 1%, or 50 points, earlier today. It has since climbed back to 5,600, down just 2.6 points. Skandia UK chief executive Nick Poyntz-Wright is stepping down from the role to be replaced by former Bankhall CEO and current Skandia UK chief development officer Peter Mann. Elsewhere, shares in BP and Royal Dutch Shell were up after both ene...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes