Investors back Ashmore's currency strategy
14th Jul 2011 10:46
Ashmore Group, the FTSE 250 investment manager, saw a 31% increase in assets under management in its final quarter. This performance was achieved through several significant increases scored by the firm's investment "themes". Notably, local currencies saw a 24% increase while corporate debt rose 27
Read moreBroker tips: Punch, PZ Cussons, Ashmore
14th Apr 2011 12:44
Credit Suisse retains its 'outperform' rating at pub owner Punch Taverns, but cuts its target price saying that a turnaround in its Spirit arm its not yet fully appreciated by the market. "We believe the demerger makes sense, as it will separate the Spirit business, which is growing and has turnaro
Read moreBroker snap: Ashmore's FUM exceed forecasts
14th Apr 2011 12:05
While Ashmore Group's funds under management (FUM) in the third quarter were ahead of RBS's expectations, the broker keeps its 'hold' rating but says the results justify the stock's premium rating to the sector. The emerging markets asset manager reported FUM of $50.3bn, 3.5% ahead of the broker's
Read moreCurrency hedging boost for Ashmore
14th Apr 2011 08:30
Assets under management (AUM) at emerging markets asset manager Ashmore Group grew again in the first quarter of 2011, with the group seeing good inflows across of a range of local currency accounts. AUM grew 8% in the first three months of 2011 to $50.3bn from $46.7bn at the end of 2010. Net inflo
Read moreFriday tips round-up: National Express, Croda, Ashmore...
25th Feb 2011 07:00
Finally, some good news for much-troubled National Express. From the doldrums of a scrapped rail franchise and sharp financial losses in 2009, the transport group posted annual results for 2010 yesterday showing a return to profit and a proposed final dividend of 6p per share. National Express has
Read moreAshmore boosts funds under management
24th Feb 2011 18:14
Emerging markets investment manager Ashmore has reported interim figures in line with expectations and announced the purchase of 62.9% of Emerging Market Management LLC (EMM). Ashmore is paying an initial $126m, of which $96m is in cash and the rest in shares, with up to $120m more payable dependi
Read moreAshmore assets grow as funds flow in
13th Jan 2011 11:12
Emerging markets asset manager Ashmore saw strong inflows in the three months to December 31, helping to make up for a weak investment market. Assets under management rose to $46.7bn (£29.8m) from $46.1bn during the quarter as inflows of $5.2bn dwarfed a $0.1bn drop caused by an adverse investment
Read moreLondon close: Weak end to dull day
14th Oct 2010 16:35
Leading shares closed lower on a poor day for the banks and a tumble for African Barrick. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices are back on the rise as the dollar heads
Read moreLondon afternoon: Footsie bottoms out
14th Oct 2010 14:17
Leading shares trod water over the lunchtime session, leaving Footsie still stranded in the red. Banks remain in the doldrums. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls has unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices
Read moreFTSE 250 movers: Mixed bag from retailers
14th Oct 2010 14:04
Retail-related stocks are mixed today after updates. Cash and carry group Booker is higher after it posted a sharp rise in interim profits and reported strong turnover so far in the second half. So is WH Smith. The newsagent and bookshop operator posted a strong rise in profits and upped its fina
Read moreBroker tips: Vodafone, Standard Chartered, Ashmore
14th Oct 2010 13:01
Positive earnings momentum for Vodafone has seen Nomura Securities upgrade its earnings per share forecasts for the telecoms titan by 5-6%. "Strong cost reductions should drive organic earnings before interest, taxes, depreciation and amortization inflexion in the second half (+2% year-on-year) an
Read moreLondon midday: Downward drift quickens
14th Oct 2010 11:56
US markets may be expected to open firmer but London is determined to go its own way today, heading lower, despite a buoyant mining sector. Metal prices are back on the rise as the dollar heads in the opposite direction. That is not enough to prevent gold miner African Barrick Gold taking a tumble,
Read moreBroker snap: Ashmore surprises to the upside
14th Oct 2010 10:36
Higher than expected investment inflows have forced brokers to review their target prices for fund manager Ashmore. The emerging markets asset manager revealed an 18% increase in assets under management (AUM) to $41.6bn since June, driven by good investment performance and strong net inflows. Sing
Read moreLondon open: Footsie builds on gains
14th Oct 2010 08:24
London has crept higher following yesterday's gains, with a stream of updates giving investors plenty to ponder. Starting with the bad news, African Barrick Gold has suspended 40% of the mining department at its Buzwagi mine in Tanzania following a fuel theft it suspects was an inside job. The shar
Read moreLondon pre-open: Advance expected to continue
14th Oct 2010 07:35
London is expected to pick up where it left off yesterday with solid gains foreseen. City traders think the FTSE 100 index will open about 17 points firmer. Mining stocks are in focus early on. The third quarter was more of the same for mining giant Rio Tinto with operations running at or close to
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