Sector movers: Legal battle looms for Aviva
Life assurance stocks featured prominently in week-end press comment.
Aviva slides lower this morning following reports in The Independent that its chairman has refused to meet with policyholders' chosen representative, Claire Spottiswoode, to discuss plans for more than £5bn of surplus insurance funds at Aviva's Norwich Union arm.
According to The Independent, the dispute is heading for a costly and lengthy legal battle.
Prudential edges lower despite a story in the Telegraph that Mark Wood, the chief executive and founder of pensions buy-out specialist Paternoster, has been approached by banks drawing up plans to break up the insurance giant.
Regen Therapeutics is buoyant after its CogniSure drug, already marketed to support healthy brain ageing in humans, has been shown to work on cats and dogs as well.
A number of pet owners whose animals participated in tests said their pets showed an increase in appetite, water consumption and an improvement in coat condition.
Percy Lomax, chairman and chief executive officer of ReGen said "These results show a potential benefit for aging cats and dogs and we are entering into discussions with potential licensees. The full results are being written up with a view to publication in a peer-reviewed veterinary journal."
Top performing sectors so far today
Industrial Engineering 2,866.90 +2.26%
Pharmaceuticals & Biotechnology 6,874.60 +1.45%
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Oil & Gas Producers 7,612.50 +1.21%
Food & Drug Retailers 4,593.00 +0.40%
Oil Equipment Services & Distribution 14,341.10 +0.30%
Bottom performing sectors so far today
Automobiles & Parts 3,929.30 -2.26%
Insurance (non-life) 1,163.80 -1.66%
Banks 7,591.40 -1.39%
Software & Computer Services 440.10 -1.30%
Mobile Telecommunications 3,915.60 -1.15%
