4 March 2021 | 12:04pm
StockMarketWire.com - A return to volatility in the bond markets helped put the FTSE 100 firmly on the back foot by midday, down 1% to 6,605.87.
Investors are concerned inflationary pressures could run out of control as we emerge from the pandemic, with a planned big stimulus package in the US expected to help spur rising prices.
Insurance company Aviva reported a fall in annual profit owing to the impact of Covid-19 and a fall in gross written premiums.
For the year ended 31 December 2020, pre-tax profit fell to £2.57 billion from £3.82 million year-on-year as gross premiums fell to £29.02 billion from £29.71 billion. In spite of the news, its share price rose 2.6% to 393.1p as it announced an exit from its Italian business, the latest in a series of disposals.
4 March 2021 | 09:09am
StockMarketWire.com - The FTSE 100 opened down slightly, falling 43.61 points to 6,631.86 as a raft of companies report lacklustre figures for 2020.
Insurance company Aviva reported a fall in annual profit owing to the impact of Covid-19 and a fall in gross written premiums. For the year ended 31 December 2020, pre-tax profit fell to £2.57 billion from £3.82 million year-on-year as gross premiums fell to £29.02 billion from £29.71 billion. In spite of the news, its share price rose nearly 4% to 397.9p.
Admiral, meanwhile, reported that annual profit rose by a fifth as claims frequency fell as people drove less during lockdowns. For 2020, pre-tax profit rose to £637.6 million from £522.6 million as turnover grew 2% to £3.55 billion. Its share price, however, fell 1% to £31.19.
4 March 2021 | 08:01am
StockMarketWire.com - Defence company Chemring said performance since the onset of the current financial year had been as expected for both its sectors, though flagged a potential drag on performance from a stronger pound.
Order intake in the period to 28 February 2021 was £128 million, down from £132 million, with a book to bill ratio slipping to 127% from 125%. The company said its expected 2021 revenue was now 89%
The company maintained its expectations for the current year remain unchanged, with the exception of the potential impact of foreign currency translation.
The average US$ rate of $1.37 compared with $1.28 in the first half of 2020, giving a 7% headwind, the company said.