Friends Prov profit fall drags on FTSE

clock

The FTSE 100 Index fell 10.70 points, or 0.2%, to 5,818 points today, as disappointing interim figures from Friends Provident dragged the insurance sector lower.

Friends Provident fell 3.31% to 175p after it announced a 9% fall in first half underlying profit to £247m, despite strong growth at its UK arm. Legal & General declined 1.20% to 123.25p, Old Mutual dropped 1.27% to 155.50p and Prudential fell 0.80% to 556.50p. Standard Chartered fell 2.75% to 1,274p after the Asia focused bank lifted operating profit by 15% to $1.52bn for the first half, but warned trading conditions may become tighter in the months ahead. In the US, the Dow Jones Industrial Average has climbed 43.70 points, or 0.4%, to 11,263.08 points on speculation the Federal ...

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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Big games, big names… and smaller companies

Big games, big names… and smaller companies

'Brazil should be looking to the future rather than to the past'

Gabriel Sacks
clock 22 June 2026 • 4 min read
Why should investors back China in the worldwide robotics race?

Why should investors back China in the worldwide robotics race?

The race to identify Asia's hidden gems

Xin-Yao Ng
clock 19 June 2026 • 5 min read
UK small-caps – down and out or ready for a rope-a-dope?

UK small-caps – down and out or ready for a rope-a-dope?

'Our faith is rooted in our own in-depth research and direct engagement with businesses'

Eustace Santa Barbara
clock 19 June 2026 • 5 min read