by Angelique Ruzicka
Chaucer is clearly basking in the limelight it’s been getting over a potential sale; its shares rose 15.54% to 42.75p this week.
Novae may have bowed out of the race to acquire its rival, but other interested parties are reported to include Brit; Pamplona Capital Management, a European private equity house and hedge fund; and another unnamed private equity group. Chaucer said discussions were continuing with a number of parties.
Perhaps the market is not too enthusiastic about Brit’s chances as its shares dipped nearly 3% to 179.25p.
It was a good week for the banks and life insurers. Shares in Aviva were up 26.83% to 251.25p, Pru rose 24% to 346.75p, Barclays increased 26.84% to 115.30p, while Lloyds TSB rose by almost 25% to 58.8p.
Insurance stocks on the Alternative Investment Market were relatively flat, although Gable Holding’s shares dipped 10.81% to 4.12p.