Aviva was among the top FTSE 100 risers after the insurer quit its joint business in Singapore.
To streamline its operations, the blue-chip firm agreed to sell its 25.9 per cent stake in Singlife alongside two debt instruments to Sumitomo Life for £800million.
The joint business was formed in 2020 following the merger of Singlife and Aviva Singapore.
‘The transaction further simplifies the business and we are in a very strong position to build on our trading momentum in the UK, Ireland and Canada,’ said boss Amanda Blanc. Shares rose 4.6 per cent, or 17.2p, to 393.5p.
The FTSE 100 fell 0.02 per cent, or 1.5 points, to 7525.99. The FTSE 250 was up 0.1 per cent, or 19.2 points, to 18,561.50.
There were several notable boardroom reshuffles across the London stock market. Among them was St James’s Place, which appointed the former boss of Prudential as its next chief executive.
Mark FitzPatrick will run one of the UK’s largest wealth managers from the start of December, having briefly led the insurance giant on an interim basis alongside five years as finance boss and three as chief operating officer.
His appointment comes as Andrew Croft prepares to bring his five-year tenure to an end. SJP shares rose 0.7 per cent, or 0.6p, to 858p.
In another jobs move, William Hill owner 888 hired Sean Wilkins to be its new finance boss from February next year.
He has held the same job at a number of companies including the gambling business Superbet, Domino’s Pizza Group and O2 Asia.
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Wilkins will replace Yariv Dafna, who goes on October 2. 888 shares slid 1.7 per cent, or 2.2p, to 124.1p.
Tullow Oil narrowed its full-year production forecast following a weaker than expected performance from its Jubilee field in Ghana. Shares plunged 5.6 per cent, or 2.1p, to 35.6p.
Nursing even heavier losses was IOG. The UK offshore gas producer and developer warned its financial position remains ‘challenging’ following a drop in second-half production and lower gas prices. Shares tanked 35.9 per cent, or 0.6p, to 1.1p.
Frontier Developments, the Cambridge-based video game developer and publisher, pinned its hopes on the release of new titles following a tough year.
Revenue fell 8 per cent to £104.6million in the 12 months to the end of May while it also swung to a loss of £26.5million, having made a £944,000 profit the year before.
Shares fell 3.3 per cent, or 10p, to 297p.
CAB Payments marked its first set of results since it listed in fine fashion.
The company, which specialises in money transfers to emerging markets, saw its income jump 94 per cent in the first six months of 2023 while profit more than doubled from £11.2million to £23.8million.
Shares, which floated at 335p in June, gained 5.7 per cent, or 15p, to 277.5p.
Heading firmly in the other direction was Anpario.
The firm, which makes nutritional additives for animal feed, suffered a double blow as meat producers endured higher costs and scaled back production while its biggest region, Asia, was affected by outbreaks of avian flu and African swine fever.
That led to sales falling 7 per cent to £15.3million in the first half of this year while profit tumbled 42 per cent to £1.4million. Shares dipped 4.4 per cent, or 10p, to 217.5p.
Made Tech, which provides digital, data and tech services to the UK public sector, warned the final weeks of its financial year that ended in May were affected by some clients delaying work.
The group added that the economic turmoil and upcoming General Election will heap further pressure on clients.
Shares dived 14.9 per cent, or 2.6p, to 14.8p.
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