With Angelique Ruzicka, finance editor
Jelf’s share price dropped 11.51% over the week after announcing a £0.4m loss. It was the biggest share price dive on our AIM watchlist this week. CBG Group and Omega only saw small drops of -2.40% and -0.79% respectively. Tawa, Hampden Underwriting, Personal Group Holdings and Litcomp were the only ones to enjoy small rises in their share price while the rest of the stocks on our list remained flat.
There was more activity on the LSE however. Aviva’s share price soared 6.05% on Monday to 337.50p per share after it announced the sale of its Australian wealth management business to National Australia Bank for 825m Australian dollars (around £401m). Moody’s said there would be no rating impact on Aviva Plc following the disposal of its Australian operations. The last rating action was on the 19th May 2009 were Aviva’s financial strength rating was AA3 with a negative outlook. Moody’s said that the disposal of the operations will be positive for the capital strength of the Aviva group, but added: “The sale of the operations does weaken the international diversification of the group to some extent, but in the context of the increasing international growth elsewhere in the group the impact is considered marginal. The Australian operations were not viewed as a strategically important part of the Aviva group. Aviva plc had total assets of GBP 355 billion and total equity of GBP 14.5 billion as at 31st December 2008 on an IFRS basis.
Meanwhile, Chaucer’s share price dipped almost 2% on Monday after Brit further outlined its all share offer (see story above), while Brit’s shares rose slightly by 0.56% to 178.25p per share.
Over the week banks as well as insurers saw only small drops in their share price.
Aviva 335p -0.37%
Chaucer 40.25p -2.42%
Beazley 93.75p +1.35%
FTSE 100 4285.38
FTSE 250 7270.67
FTSE All-Share 2182.28