1315 GMT - Prudential's first-half results are strong and the headlines are positive, says Citigroup. Citi welcomes the Pru's confirmation that it will demerge its European M&GPrudential business in the fourth quarter of this year. It also highlights resilient levels of new business, a 12% rise in operating profit and plans to diversify its U.S. business, for example through re-insurance and third-party financing. "M&G operating profit and flows are one of the few disappointments, but overall we see this as a strong set of results," Citi's Andrew Baker says. (philip.waller@wsj.com)

(END) Dow Jones Newswires

August 14, 2019 09:33 ET (13:33 GMT)

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