Legal & General was the fastest riser in early trading on August 5, as the UK insurance and investment giant revealed first-half operating profits at both group level and at its asset management arm climbed nearly a fifth, amid growing evidence the group is executing on its strategy of taking advantage of the increasing derisking appetite from pension schemes.

L&G's shares were up 2.77% by 08.53am BST after the group, led by chief executive Nigel Wilson, issued a half-year set of results that showed an 18% rise in operating profits in the six months to June 30 from their level in the same period last year.