Legal & General Share Price Falls Again as Rate Fears Deepen After Earnings Miss
Legal & General Group Plc wrapped up Friday’s session in London at 236.3 pence, slipping 2.1% from Thursday’s close. That was a steeper drop than the FTSE 100’s 1.4% slide, with UK stocks now on a three-week losing streak. Shares in the insurer and asset manager are down about 15.5% from the Feb. 23 high of 279.5p. This is relevant now, with the stock still reeling from last week’s surprise. Back on March 11, shares plunged as L&G fell short on critical earnings and capital targets—despite rolling out its largest buyback to date. Then on Friday, a wider selloff hit as UK markets quickly shifted their rate outlook: higher, not lower.