Legal & General (LON:LGEN) shares rally, £1.2bn buyback impact clipped
With London markets closed Saturday, the most recent price is Friday’s close. Legal & General Group Plc finished at 292.10p, up 0.24%. The FTSE 100 edged up 0.25% to 10,679.03, banking a weekly gain as financials supported the index. The buyback numbers give a clearer read for investors. L&G has spent 34.0% of its £1.2 billion share repurchase plan, according to the latest table. Shares now sit 13.5% above the programme’s average purchase price. The stock’s move makes the initial buybacks look cheap, but any new buys will cost more and have less impact.