RSA Insurance, Howdens and BT

“London's FTSE 100 index was virtually flat in early trading ahead of today's interest rate decision from the Bank of England and following mixed messages out of US and Asian markets overnight,” says AJ Bell Investment Director Russ Mould.

“RSA Insurance was one of the biggest blue-chip fallers in early trading after third quarter growth was lower than targeted due to hurricane losses in the US and Caribbean. The group’s underwriting results for Scandinavia, Canada, Ireland and Middle East were all ahead of last year but its UK results have been impacted by US/Caribbean hurricane costs as well as a continuing adverse household and large loss experience. RSA’s shares were down by over 1.4%.

“Howden Joinery Group topped the FTSE250 board following a strong performance during the important October trading period. Total revenues in the UK so far this year are up 6.3% and by 4.4% on a same depot basis. Howdens continues to expand having opened five new depots in the UK since its July half-year report. Howdens’ shares were up by more than 6.7%.

“BT’s shares edged higher in early trading after it revealed that from next year its interim dividend would be fixed at 30% of the prior year's full year payout. First half revenues and earnings fell reflecting investment in sports rights and operational improvements. But the results were in line with forecasts as encouraging results in its consumer-facing lines of business, notably EE, helped offset ongoing challenges in its enterprise divisions. BT’s shares were up by over 0.8%”

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