FTSE 100 movers: Man's slump continues

30th Apr 2012 14:49

The volatility in the share price of hedge fund manager Man Group has continued on Monday, with the stock extending recent losses ahead of its first-quarter update due tomorrow.Including today's +4% fall, the shares are nearly 11% higher than they were a week ago but down over 24% on the month. The stock, trading at around the 100p level today, is substantially lower than its year-to-date high of around 150p and the 52-week high of 259.6p on the back of the recent performance of its flagship AHL fund, which has led to much takeover talk in the market.In contrast, fund manager Aberdeen Asset Management was on the rise today after it reported a solid increase in revenue and profit in its first half which it says was down to a return of investor appetite for risk assets in 2012 and an ongoing desire for yield. Meanwhile, the miners were putting in a mixed performance. Russian precious metals group Polymetal was making solid gains despite gold prices taking a hit on concerns that demand in India is slowing. Sector peers ENRC and BHP Billiton were also performing well.In contrast, Fresnillo and Randgold Resources were heavy fallers with the latter being weighed down by a ratings cut from Nomura. The broker downgraded the stock from neutral to reduce this morning, saying that while it has de-rated in line with the broader sector, there is less potential upside than peers partly due to its exposure to political risk in Mali. Engineering group Weir was lower despite saying that five new products launched by its Oil & Gas division today are expected to expand its addressable market by over $500m. FTSE 100 - RisersPolymetal International (POLY) 927.00p +3.69%Aberdeen Asset Management (ADN) 283.50p +3.47%Whitbread (WTB) 1,935.00p +1.47%Burberry Group (BRBY) 1,490.00p +1.43%Amec (AMEC) 1,141.00p +0.97%British Sky Broadcasting Group (BSY) 673.50p +0.90%Eurasian Natural Resources Corp. (ENRC) 565.00p +0.71%Rexam (REX) 433.30p +0.65%BHP Billiton (BLT) 1,978.50p +0.64%GlaxoSmithKline (GSK) 1,430.50p +0.49%FTSE 100 - FallersMan Group (EMG) 102.30p -4.39%ITV (ITV) 83.80p -2.78%Fresnillo (FRES) 1,570.00p -2.67%Weir Group (WEIR) 1,701.00p -2.24%BAE Systems (BA.) 296.40p -2.18%IMI (IMI) 994.50p -2.12%Randgold Resources Ltd. (RRS) 5,500.00p -2.05%Capita (CPI) 671.00p -2.04%Croda International (CRDA) 2,238.00p -1.93%Schroders (SDR) 1,422.00p -1.93%BC