Broker snap: Steady start to 2012 for Man, says Credit Suisse
1st Mar 2012 10:10
Credit Suisse has reiterated its outperform rating for hedge fund manager Man Group after the firm adjusted its dividend policy and announced a positive start to trading in the current calendar year. The group reported an adjusted pre-tax profit of $262m for the nine months ending December 31st, sl
Read moreThursday broker round-up - UPDATE
1st Mar 2012 09:33
RBS: Berenberg downgrades to sell from buy. Randgold Resources: Nomura maintains buy rating and 9,850p target. BG Group: Nomura maintains buy rating and 1,865p target. WPP: Nomura maintains buy rating and 990p target. BAE Systems: UBS ups target from 320p to 360p, buy rating unchanged. Capita:
Read moreThe ascent of Man
1st Mar 2012 09:33
A more generous dividend policy and a slow-down in the net outflow of funds led to the ascent of Man, the hedge fund manager, on Thursday morning. The group said funds under management (FUM) at the end of February clocked in at around $59.5bn, up from the end of 2011 figure of $58.4bn, on the back
Read moreLondon open: Man Group leads the rise early on
1st Mar 2012 08:46
- Man Group surges after shaking up divi policy. - Chinese manufacturing continues to expand. - Tata weighing up a bid for Cable and Wireless Worldwide. London's blue chips edged higher on Thursday morning, helped by a strong rise performance by Man Group. Meanwhile, Chinese manufacturing data help
Read moreLondon pre-open: Markets digest LTRO
1st Mar 2012 07:30
City sources predict the FTSE 100 will open down 8 points from yesterday's close of 5,872, as markets take some time to process the European Central Bank's (ECB) decision over the long term refinancing operation (LTRO). Yesterday, the ECB announced the receipt of €529.5bn in bids for liquidity at it
Read morePositive start for Man; overhauls divi policy
1st Mar 2012 07:16
Funds under management (FUM) at hedge fund manager Man Group have edged up during 2012, despite customers reducing the amount of money they have placed with the company. FUM at the end of February stood at an estimated $59.5bn, up from $58.4bn at the end of 2011, reflecting positive investment perf
Read moreLondon midday: Stocks up as investors await news from Greece
8th Feb 2012 11:46
- Reckitt, miners and banks provide a lift on the FTSE 100. - Big movers on the FTSE 250 drag index into the red. - Markets await news from Greek meetings. Stocks pared gains by midday but were still trading in positive territory as investors awaited developments from Greece with leaders still grap
Read moreLondon open: Stocks rise with Greece in focus
8th Feb 2012 08:42
- Greek leaders scheduled to discuss draft deal. - Reckitt rises strongly after beating full-year targets. - Miners, financials provide a lift. Stocks opened higher on Wednesday following two days in the red, with banks and resource stocks providing a lift. Worth noting, the FTSE All-World equity i
Read moreLondon midday: Footsie unchanged, RBS leads risers
20th Jan 2012 11:57
- Greek talks still in progress. - RBS taps ECB emergency facility. - Vodafone up on Indian tax ruling. The Footsie was rather flat at midday, after swinging between gains and losses in the mid-morning session. Neverthess, the blue chip index was trading within a narrow range with just 26 points se
Read moreLondon close: Stocks edge higher on IMF hopes
18th Jan 2012 16:33
- IMF looks to boost lending capacity by $500bn - UK jobless rate rises to 8.4% - Essar bounces back after Indian tax ruling UK stocks finished moderately higher on Wednesday, with reports that the IMF is boosting its lending capacity lifting the mood across European markets. The International Mo
Read moreFTSE 100 movers: Recovering Essar in top spot
18th Jan 2012 14:54
Essar Energy was leading the way higher after a court ruling in India wiped 26% of the company's share price yesterday. The ruling appeared to put an end to Essar's use of a tax scheme for its oil refining operations in the state of Gujarat, which had seen the company defer $1.235bn in tax payment
Read moreLondon midday: Essar recovery pushes Footsie into the blue
18th Jan 2012 12:01
The Footsie pushed into positive territory in late morning trade, helped the blue chip index nudge above the 5,700 mark, helped by a strong recovery from Essar Energy and a well-received trading update from Man Group. Nevertheless, investors are keeping a close eye on Athens today as Greek private
Read moreBroker snap: Man still a buy despite tough quarter, says Peel Hunt
18th Jan 2012 10:36
Peel Hunt has kept its buy rating on hedge fund manager Man Group, despite today's update confirming a "very difficult quarter". Assets under management fell to $58.4bn by December 31st, down 9.5% from September 30th. Though the group saw $3.1bn of new money flow into its funds in the final quarter
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
Read moreLondon open: Tullow, BHP lead resource stocks lower
18th Jan 2012 08:21
Yesterday's optimism - on the back of positive macro data from China, Germany and the US - seems to have been short-lived, with the FTSE 100 falling in to the red in early trading on Wednesday. Eurozone concerns are now again in focus with meetings between the Greek government an private creditors s
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