Hargreaves Lansdown's shares rose on news the government is set to increase the personal ISA allowance to £15,000, whilst life insurers including Legal & General suffered a brutal sell-off, after Chancellor George Osborne unveiled the latest Budget.
Life insurers and pension providers saw shares tumble after Chancellor George Osborne said the rules on investing in annuities would be relaxed. Annuity provider Just Retirement group plummeted 32%, while Partnership Assurance Group, a provider of non-standard annuities for individuals with medical conditions, shed 43% shortly after the announcement. Legal & General fell 12%, while Standard Life, Prudential and Aviva all fell by between 2% to 4%. Bookmakers also suffered as Osborne clamped down further on fixed-odds betting terminals. Ladbrokes fell 12%, while William Hill dropp...
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