Markets
Market update (PM): Admiral slumps at trading close
Rob Langston, 24 August 2011
Insurer Admiral Group (ADM.L) saw its share price slump at the close of trading after earlier publishing its first half results.
The insurance group saw its share price tumble despite reporting turnover of £1.1 billion and profits of £160.6 million during the first half and two brokers issuing 'buy' notices
However, it wasn't enough to prevent the insurer's share price from falling 11.9 per cent to 1,353p.
Joining it at the bottom was Serco (SRP.L), which fell by a relatively more modest 4 per cent to 511p. The services provider dropped after reporting a rise in pre-tax profit to £111.8 million during the six months to 30 June 2011.
Randgold Resources (RRS.L) dropped 3.5 per cent to 6,410p, Essar Energy (ESSR.L) fell 1.5 per cent to 251.6p, and Imperial Tobacco (IMT.L) slipped 1.1 per cent to 2,045p.
The biggest riser at the close of trading was Man Group (EMG.L). The listed hedge fund rose 10.2 per cent to 216.1p.
Royal Bank of Scotland Group (RBS.L) had a good day, rising 9.4 per cent to 21.87p, while fellow bailed-out bank Lloyds Banking Group climbed 6.4 per cent higher to 30.11p.
Tullow Oil (TLW.L) rose 8.4 per cent to 1,026p, as advertising and marketing giant WPP added 7.4 per cent to its share price following bullish inerim results to 623p.
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