The latest ups and downs on the stock market
There just doesn’t seem to be much light at the end of the tunnel for Omega Holdings at the moment. First, it went through a boardroom civil war with its investment partners that eventually led to a management shake-up. Now, it has taken a £15m hit from the Chilean earthquake.
Omega said the claims were likely to have a “material effect” on its end-of-year results. The news seems to have shaken the confidence of investors, and the stock fell last week from 113p to 106.75p (see chart).
Elsewhere, news that Aviva will re-enter the general insurance market in Asia did little to boost the stock, as it remained around the 385p mark.
Meanwhile, fuelled by plenty of whispers and speculation, what the men in dark glasses really want to know is this: when is the next big takeover or merger going to happen in the insurance market?
Market indices Movers Price 7-day Currency
FTSE 100 5770.49 Aviva 387p +0.5% Dollar 1.54
FTSE 250 10488.37 Amlin 407p +3.4% Euro 1.13
FTSE All-share 2962.38 Omega 106.75p –5.5% Yen 144.20