| CATEGORY: SECTOR REVIEW SECTOR: LIFE INSURANCE |
Sector movers: Prudential plans boost insurance sector |
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Mon 08 Mar 2010
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LONDON (SHARECAST) - The life insurance sector is higher after investors gave a warm reception to Prudential’s acceleration of its plans for a listing on the Hong Kong Stock Exchange. The Pru now wants the listing effective before its $20bn rights issue to help fund the purchase of AIG Asia.
Peers Legal & General, Resolution and Aviva have also climbed.
Drug giant AstraZeneca helps drag the pharmaceuticals & biotechnology sector lower after it said its cancer treatment Recentin failed to meet the primary endpoint in a clinical study to compare it with rival drug group Roche’s Avastin.
GlaxoSmithKline, which is also facing problems, with its diabetes drug Avandia, is also lower.
Top performing sectors so far today
Industrial Transportation 2,217.29 +7.80%
Life Insurance 3,661.78 +1.26%
Oil Equipment Services & Distribution 16,963.36 +0.95%
Mining 23,401.89 +0.88%
Electricity 6,582.55 +0.74%
Bottom performing sectors so far today
Pharmaceuticals & Biotechnology 8,711.17 -1.11%
Real Estate Investment Trusts 1,918.29 -0.54%
Electronic & Electrical Equipment 1,708.35 -0.48%
Forestry & Paper 4,667.23 -0.41%
Media 3,534.54 -0.34%
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