Old Mutual expects its diversified business will help protect value in market turmoil
Shares fall 16% as investors worry the coronavirus pandemic will trigger a global recession
16 March 2020 - 08:47
Old Mutual, SA’s second-largest insurer by market value, will miss 2020 growth targets, citing the coronavirus outbreak, which has forced it into restricting business travel.
The company’s share price fell 16.14% to R12.05 on Monday, in line with the broader stock market as investors worldwide remained worried the pandemic will trigger a global recession even as central banks in the US, Europe and Asia pumped money into the system to cushion the blows...
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