STOCKS NEWS UK-Pru rises on Axa, Allianz cheer

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10:06GMT 09Nov2009-Pru rises on Axa, Allianz cheer

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Shares in Britain's largest insurer Prudential (PRU.L) rise as much as 5.4 percent to 609 pence, the second biggest gainer on the FTSE 100, on AXA's (AXAF.PA) decision to buy out its Asian assets and forecast beating earnings from Europe's largest insurer Allianz (ALVG.DE).

One trader says Axa's move: "underlies the value of Prudential's own Asian businesses".