Diary: Hit or miss ... Prudential rights issue

Last week's announcement by insurance giant Prudential that it was to tap shareholders for £1bn to fund UK growth took the City by surprise. But investor shock at CEO Jonathan Bloomer's announcement just eight months after he had given a pessimistic assessment of the British market and played up opportunities in Asia quickly turned to scorn. One analyst told the Financial Times: 'This is not the first time there has been questions over management. Communication has never been its strong point.'