FTSE 100 movers: L&G slumps on dividend cut

4th Aug 2009 11:49

Life Insurance is worst of the bunch after Legal & General reported after a 92% plunge in operating profit and a 45% cut in the dividend.European embedded value (EEV) operating profit rose 12% to £657m for the six months to 30 June, up from £589m a year ago, but it slumped to £31m from £391m on an IFRS basis. The numbers weighed on peers Aviva, Prudential and Friends Provident.Standard Chartered is another heavy faller as it used better-than-expected interim figures at the backdrop for a £1bn placing to bolster its position in Asia. Chief executive Peter Sands played down talk it is planning to use the money for a big acquisition. FTSE 100 - RisersAutonomy Corporation (AU.) 1,225.00p +2.08%Reed Elsevier (REL) 443.50p +1.95%Centrica (CNA) 220.80p +1.89%Tullow Oil (TLW) 1,010.00p +1.51%British American Tobacco (BATS) 1,849.00p +1.43%British Land Co (BLND) 436.70p +1.35%Land Securities Group (LAND) 532.50p +1.33%Imperial Tobacco Group (IMT) 1,688.00p +1.14%FTSE 100 - FallersStandard Chartered (STAN) 1,339.00p -6.75%Legal & General Group (LGEN) 61.60p -5.59%Antofagasta (ANTO) 754.50p -5.33%Aviva (AV.) 338.50p -3.81%Old Mutual (OML) 93.65p -3.65%Cobham (COB) 175.20p -3.58%Anglo American (AAL) 1,951.50p -3.53%Xstrata (XTA) 835.00p -3.52%