Standard day for Standard Life - papers 11 July

The Scotsman writes it was a day of instant profits for shareholders as the stock gained more than 5%, with fund managers suggesting further gains in the next few weeks. “Around 166 million shares changed hands, roughly 9 per cent of all shares traded on the UK market.” The paper says a price of 242.5p would give the company a market capitalisation value of £4.9bn, making it the fifth largest UK-listed insurer, ahead of Friends Provident. Colin McLean of SVM Asset Management is quoted as saying the price gains were a good sign because the sector otherwise is seen as “weak” currently...