Aviva down on dividend withdrawal

Shares in FTSE 100 insurer Aviva (LON:AV.) dropped 7.78% to 245.94p (as of 12:30 BST) after it withdrew its 2019 final dividend recommendation in the wake of COVID-19. The company said that it was too early to quantify the pandemic’s impact on claims and it is reassessing discretionary expenditures, but the business remains well capitalised with strong liquidity.