FTSE 100 movers: Aviva jumps as first-half results impress

8th Aug 2013 14:41

Aviva's share price surged on Thursday after the insurer beat forecasts in the first half as its turnaround continues. The firm reported a five per cent rise in operating profit to 1,008m pounds, ahead of the 933m-pound estimate, while the value of new business jumped 17 per cent to 401m pounds."In the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Aviva's turnaround," said Chief Executive Mark Wilson. The savings, insurance and asset management firm Old Mutual was also a high riser, extending gains made yesterday after investors cheered its own first-half report. Not all financial stocks were in demand though today, with fund manager Schroders failing to please with a 25% increase in first-half profits as markets focused on £1.1bn of net outflows in the second quarter, all of which occurred in June.Insurer Standard Life was also lower after a 6.0% rise in operating pre-tax profits to £304m in the first half missed the consensus forecast of £320m.Mining stocks were performing well today, rebounding after some heavy falls over recent days. Anglo American, Antofagasta, Glencore Xstrata and BHP Billiton were all higher in afternoon trade. Even Vedanta edged higher as it shrugged off a downgrade from Liberum Capital to 'hold'. Rio Tinto also gained despite recording an 18% drop in underlying earnings in the first half due to lower market prices and a higher tax rate, partly offset by record iron ore shipments and cost savings. BAE Systems was in the red after the Serious Fraud Office admitted that it has lost certain documents involved in an investigation into the defence firm.FTSE 100 - RisersAviva (AV.) 398.50p +7.47%Old Mutual (OML) 206.00p +3.99%Anglo American (AAL) 1,445.00p +3.58%Antofagasta (ANTO) 874.00p +3.49%Glencore Xstrata (GLEN) 277.90p +2.75%BHP Billiton (BLT) 1,892.00p +2.58%Aggreko (AGK) 1,670.00p +2.39%International Consolidated Airlines Group SA (CDI) (IAG) 324.50p +2.30%ARM Holdings (ARM) 879.50p +2.21%GKN (GKN) 353.50p +2.05%FTSE 100 - FallersSchroders (SDR) 2,371.00p -5.20%BAE Systems (BA.) 439.50p -2.05%Standard Life (SL.) 380.10p -1.88%Resolution Ltd. (RSL) 326.60p -1.21%William Hill (WMH) 447.00p -0.62%Smiths Group (SMIN) 1,299.00p -0.54%Johnson Matthey (JMAT) 2,796.00p -0.53%InterContinental Hotels Group (IHG) 1,975.00p -0.50%Legal & General Group (LGEN) 198.70p -0.40%Serco Group (SRP) 617.50p -0.40%BC