Stock Movers Boliden Slumps, Next Gains, Aviva Drops
Mar 26, 2026
Tiwa Adebayo, Bloomberg market reporter covering miners, retailers and insurers. She breaks down Boliden’s production hit at Garpenberg and its market fallout. She explains Next’s profit tweak and the £15m Middle East cost risk. She highlights insurer worries after Jefferies’ private credit losses and the pressure on names like Aviva.
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Boliden Mine Cut Slashes Production And Margins
- Boliden's Garpenberg mine will run at ~30% capacity until further notice, hitting margins and EBITDA at current prices.
- Morgan Stanley notes it's Boliden's largest, most profitable asset, so analysts' models were surprised and shares fell up to 17% today.
Next Beats Forecasts But Flags Middle East Cost Risk
- Next raised its expected pre-tax profit to just over £1.2bn despite Middle East risks, shares up by the most since October.
- The company warns the conflict could add £15m of costs and it may raise prices if the war persists.
Private Credit Pain Weighs On Insurers
- Aviva and other European insurers fell after Jefferies missed estimates due to losses on private credit bets and a private-credit fund posted record monthly losses.
- Market concerns grew after comments from Lloyd Blankfein and reports of banks pulling back on asset-backed loans.