FTSE 100 movers: Admiral, Aviva impress with H1 results

Admiral GroupSharecast graphic / Josh White

Insurance heavyweights Admiral and Aviva were both on the rise on Wednesday’s session after the company’s impressed with their interim results.

B&M European Value Retail S.A. (DI)

359.10p

17:15 23/12/24

-0.99%

-3.60p

Household Goods & Home Construction

10,971.11

17:09 23/12/24

0.02%

1.79

Real Estate Investment & Services

2,440.57

17:09 23/12/24

-0.13%

-3.14

Shares in Admiral rose 7% after the insurer reported that pre-tax profit rose 4% to £234m in the six months to June 30 as it hiked prices in response to claims inflation. Revenues in its core motor insurance division jumped 20% in the half to £1.4bn.

Sector peer Aviva also impressed the market with its interim results, with operating profit rising 8% year-on-year to £715m. Looking ahead, Aviva said it remained confident over its future performance, underpinned by the strong first half.

B&M European Value Retail extended its recent gains, after being linked to takeover rumours surrounding struggling rival retailer Wilko. The latter, which fell into administration last week, gave potential buyers until today to launch a formal offer.

Mining stocks were providing a drag as risk appetite waned, with Fresnillo and Endeavour among the worst performers.

Property groups and real estate agencies were also struggling as market sentiment continues to be dampened by fears that the Bank of England may hike interest rates once again at its next meeting. Data out today showed that the annual rate of core inflation in the UK remained stubbornly high at 6.9% last month. Barratt Developments and Rightmove were both trading with heavy losses.

FTSE 100 - Risers

Admiral Group (ADM) 2,346.00p 6.68%
B&M European Value Retail S.A. (DI) (BME) 575.20p 1.77%
JD Sports Fashion (JD.) 151.75p 1.57%
3i Group (III) 1,937.00p 1.33%
Aviva (AV.) 384.10p 1.11%
Ocado Group (OCDO) 807.20p 0.98%
Barclays (BARC) 144.94p 0.98%
Spirax-Sarco Engineering (SPX) 10,255.00p 0.94%
Associated British Foods (ABF) 1,984.00p 0.84%
Tesco (TSCO) 249.60p 0.65%