Uncertainty From Prudential PLC's Chinese JV Remains a Mild Frustration -- Market Talk

Dow Jones09-02

1402 GMT - A potential further capital injection into Prudential PLC's Chinese joint venture remains one of investor's mild frustrations, Bank of America Global Research says in a note. The insurer injected $176 million to its CITIC-Prudential Life Insurance Company Limited in late December. "We think investors would prefer 'one-and-done' to 'death by a thousand cuts', with ongoing uncertainty on the level of any future injections," analysts Andrew Sinclair and David Barma write. They note that given the scope of the group, the uncertainty is manageable and won't impact its buyback plans. Shares in London are down 27% year to date at 647.80 pence.(elena.vardon@wsj.com)

(END) Dow Jones Newswires

September 02, 2024 10:03 ET (14:03 GMT)

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