The latest ups and downs on the stock market
The stock markets in general have taken a beating over the past week as fears about the health of European banks prevailed. The FTSE 100 and FTSE All Share both fell almost 5%. The FTSE 250 fared a little better, falling by just under 4%.
Several stocks were caught up in the decline, such as Aviva, RSA and even Admiral, which had been performing well in recent months. But a handful of stocks, particularly Lloyd’s insurers, bucked the trend. Of these, Amlin was the biggest riser. Citigroup upgraded the insurer’s stock to buy from hold on Friday. According to the bank, while Amlin’s share price performs well, it undervalues the firm’s strategic progress.
But not all Lloyd’s insurers escaped the downturn. Novae and Catlin both fell back. And the market seems unsure what to make of the continuing Brit saga. Its stock price kept rising above the £9 mark throughout last week, only to fall below it again the next day.
Market indices Movers price 7-day Currency
FTSE 100 4,823.53 Chaucer 44 +1.15% Dollar 1.52
FTSE 250 9,301.35 Hardy 242 +0.83% Euro 1.21
FTSE All-share 2,499.85 Catlin 344.8 -3.04% Yen 133.23