Prudential PLC (LSE:PRU)(Prudential PLC (LSE:PRU)) was FTSE 100’s top riser as news of a partnership in Indonesia helped fuel further gains after this week’s economic pledges from China.
The life insurer climbed 3% early on, having announced a deal with the country’s sixth-largest lender which will see the FTSE 100 firm provide products through Bank Syariah Indonesia.
“Indonesia is a key growth market for Prudential,” strategic business group managing director Solmaz Altin said, “and this partnership will accelerate our growth ambitions”.
This added to gains for Prudential over the course of this week as it emerged as a beneficiary of announcements from China aimed at stimulating the country's struggling economy.
Chinese stocks are on course for their best weekly performance since 2008, when the world was in the midst of the global financial crisis.
Anil Wadhwani, Prudential’s chief executive added: "We are excited to leverage our bancassurance expertise in the Indonesian market.
“We will deploy our operating experience and product capabilities for our new banking relationship with BSI, further advancing our extensive transformation of our Indonesian business.”
Shares added 3.7% to 706.8p.