The week's winners
Kiln up 7.2%
Chaucer up 2.1%
Allianz up 0.6%
The week's winners Kiln up 7.2%Chaucer up 2.1%Allianz up 0.6%
The week's losersSVB down 6.5%Cox down 6.2%Brit Insurance down 4.8%Trouble is brewing for Royal & SunAlliance as disgruntled investors attacked it last Friday for producing poor returns and lacking insurance expertise. Andy Haste, who has been chief executive for more than a year, endeavoured to protect the group by insisting that there was no quick fix to the problem and that it would be a "long haul for the next three years". Its shares rose by 0.5% to 81p last week. Still, things could be worse. Bristol & London, the replacement car hire company, has issued its second profit warning in four months. It seems the company underestimated the ferocity of its competitors. Chairman Robert Woods said: "The market is attracting new players. I do not see competition activity abating." The company, which floated on AIM last September at 130p, saw its shares fall by 21% to close at 55p on Friday. Troubled retailer, Marks & Spencer tried to save the day by parachuting in Stuart Rose to replace Roger Holmes as its new chief executive. Paul Myners was also appointed as interim chairman to replace Luc Vandevale. Hopefully this new team can breathe some life into the business, especially in its financial services division, which saw profits fall from £86m to £50m. If it fails, M&S faces the possibility of a takeover from retail entrepreneur Philip Green. Chaucer, SVB and Allianz Cornhill this week produced first quarter results. Only SVB failed to achieve a rise in its share price. Although SVB produced encouraging results, it still has far to go to convince the market. Chief executive Matthew Fosh admitted the company's history didn't do it any favours. He said: "We are still hampered by our inheritance. The ability of the poor underwriting of the soft market to hurt us remains and we are still committed to bearing down on these legacy issues."