Prudential trades lower while shares buyback tops market price
Prudential plc dropped after Tuesday's London close, erasing most of the prior day's gains. The latest buyback figures showed the insurer buying back shares at an average price above where the stock is trading—a detail getting more attention from investors. Hargreaves Lansdown quoted Prudential at 1,033.00p to sell and 1,033.50p to buy, down 11p, or 1.06%. Volume came in at 5.6 million shares. The FTSE 100 added 0.13%. Prudential climbed 1.51% to £10.41 on Monday, outperforming the FTSE 100, MarketWatch data showed. About 3.3 million shares traded—less than the 50-day average of 9.4 million.