08/11/13 Market Movements

Markets closed up 11.20 points at 6,708.42 on Friday.

 

 

 

Stock Prices

Stock Movement Detail
RSA Insurance (BBL) Moved further away from its TSP Current price(11/11/13) =   106.95p, TSP = 133p

8th

RSA Insurance has fallen 11% this morning after the group has commissioned an independent review of its financial and regulatory reporting processes and controls as it suspended three senior executives at its Irish unit, on Sunday. RSA has said it suspended the three over “issues in the Irish claims and finance functions” identified in a routine internal audit, but no further details have been provided.  The company has now injected capital into RSA Insurance Ireland to ensure its solvency ratio was in excess of 200%, the benchmark ratio set by Ireland’s central bank.

Some brokers have also downgraded their target sale prices today.

Date

Company Name

Broker

Rec.

Price

Old target price

New target price

Notes

11 Nov 13 RSA Insurance… Credit Suisse Underperform 106.85 125.00 110.00 Downgrades
11 Nov 13 RSA Insurance… Barclays Capital Underweight 106.85 114.00 114.00 Retains
11 Nov 13 RSA Insurance… Citigroup Neutral 106.85 146.00 126.00 Downgrades