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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Phoenix Group, Aviva on the rise

Mon 13 Nov 2023 14:13

(Sharecast News) - London's FTSE 100 was up 0.6% at 7,400.93 in afternoon trade on Monday.

Insurer Phoenix Group surged to the top of the index as it lifted its full-year cash generation targets after completing the funds merger of its Standard Life and Phoenix Life businesses into a single entity.

The merger leads to a "material" one-off upgrade to its 2023 cash generation targets to around £1.8bn, from around £1.3bn to £1.4bn. As a result, the company's three-year cash generation target increased from £4.1bn to £4.5bn across 2023-2025.

Aviva was also a high riser as JPMorgan Cazenove said in a research note that the 'overweight' rated stock offers the most diversified UK insurance business, with strong management and an attractive total capital return.

FTSE 100 - Risers

Phoenix Group Holdings (PHNX) 488.00p 5.13% Rentokil Initial (RTO) 457.90p 2.55% British American Tobacco (BATS) 2,527.50p 2.04% Auto Trader Group (AUTO) 695.20p 1.94% Rolls-Royce Holdings (RR.) 236.20p 1.81% Melrose Industries (MRO) 524.20p 1.79% Imperial Brands (IMB) 1,783.50p 1.65% Aviva (AV.) 410.70p 1.58% Flutter Entertainment (CDI) (FLTR) 12,335.00p 1.48% Pershing Square Holdings Ltd NPV (PSH) 3,018.00p 1.41%

FTSE 100 - Fallers

Entain (ENT) 904.80p -2.25% Informa (INF) 700.40p -1.60% Centrica (CNA) 150.00p -1.38% Experian (EXPN) 2,651.00p -1.19% Sage Group (SGE) 983.80p -1.03% London Stock Exchange Group (LSEG) 8,474.00p -0.94% Endeavour Mining (EDV) 1,636.00p -0.91% 3i Group (III) 2,009.00p -0.84% Ocado Group (OCDO) 510.40p -0.82% Weir Group (WEIR) 1,772.50p -0.81%

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