Friends Provident buys fail to lift price

A round-up of the biggest director deals today so far.

Friends Provident directors have bought heavily into the life group but they couldn't stops its share price falling today while the rest of the sector flew ahead.

Chief executive Trevor Matthews bought 764,632 shares at 65.4p each. Yesterday he was also awarded of 681,327 shares at nil cost as compensation for the loss of his long-term incentive arrangements with previous employer Standard Life. One third of the deferred share award will vest on 30 July 2009 and the remaining two-thirds will vest on 30 July 2010.

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