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Aviva row knocks confidence in pref market

Aviva row knocks confidence in pref market

To say that Aviva’s (AV.) announcement that it was considering cancelling £450m of preference shares at par value has riled investors would be an understatement – and you can see why. Floating the idea in the insurer’s 2017 results wiped around 30 per cent off the value of some issues in just one day.

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