Aviva /Norwich Union tanking.... whats up there today...?

[Tony*T3]

Aviva has lost 33% of its share value today - anyone know why?

Or is it just their turn to hit the bottom?

[Fittster]

Glad I'm just paper trading a system which recommended there purchase yesterday!

[andy-xr]

Didnt they just announce they lost billions?

[limpsfield]

http://lmgtfy.com/?q=aviva

worse than expected 2008 losses

[fulham911club]

Massive write-downs on their SF portfolios.

[mikeyr]

Its losses for 2008 were £885m, after a profit of £1.5bn in the previous year, as it was hit by the downturn in the financial markets (according to bbc website).

I've got about 700 shares from the days when I used to work there. worth diddly squat at the mo - currently £1.88 a share, back in 2000 they were nearer £12 each!!!

[NoelWatson]

http://ftalphaville.ft.com/blog/2009/03/05/53241/a...

[Muncher]

A load of their staff were visiting their bankers at RBS today, most of the Mercs outside had Aviva signs in them. Time for a a quick check down the back of the sofa for them perhaps?

[cardigankid]

Don't you think that one of the outcomes of the current debacle is that accounting standards should be changed to reflect reality more closely - in the case of smaller companies made simpler, but in the case of larger companies made a lot more searching?

As to Aviva - Hedge Funds at it again? I imagine that its only a matter of time till short selling is made illegal, permanently, and rightly so. All it is is a licence to manipulate the market for profit.

Edited by cardigankid on Saturday 7th March 14:00