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Aviva share price struggles ahead of full-year results amid coronavirus concerns

The insurer saw its stock tumble more than 15% last week amid rising concerns about the COVID-19 outbreak, with investors also worried about how the company will cope with the softer economic growth outlook in Europe and the UK.

Aviva will unveil its full-year results on Thursday, but it has been a challenging 12 months, with it struggling to deliver growth, leading to its share price to fall 16% since the start of the new year.

The company, along with other UK stocks, has faced a tough macro backdrop, with rising concerns about the COVID-19 outbreak also helping to drive its share price lower.

Tulloch takes charge

The insurer has also been impacted by a change of management, with Maurice Tulloch taking over as CEO back in March of last year. When he took charge, Tulloch promised to ‘re-energise’ the company by focusing on its core fundamentals, improving customer service and streamlining the group.

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Aviva boasts strong fundamentals

Aviva looks to reduce the amount of debt on its balance sheet, with the company boasting strong financial foundations, but loan repayments will gobble up its cash and with top line growth stagnant its share price has struggled make significant gains.

However, the stock remains popular with investors due to its progressive dividend policy, delivering an interim pay-out of 9.50p a share, up 3% from last year.

The stock, though clawing back some of its losses on Tuesday, with it trading 2% higher, will struggle to make significant gains over the near-term with investors concerned about the softer economic outlook in Europe and the UK.

Therefore, Aviva is unlikely to wow investors when it delivers its full-year results on Thursday, but it won't disappoint either.

Aviva is trading at 353p a share as of 13:55 (GMT) on Wednesday.

You can go long or short Aviva with IG using derivatives like CFDs and spread bets.

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