Broker snap: RBS lowers Man Group rating, slashes target price
29th Sep 2011 10:44
RBS has lowered its rating and target price on Man Group after the hedge fund manager's poorly received trading statement yesterday. It now has a "hold" rating having previously had a "buy" stance and the target price falls to 205p from 282p. "Substantial inflows in 1Q followed by substantial outf
Read moreLondon close: Stocks dive in late trading
28th Sep 2011 16:40
Stocks gave up an earlier rally to finish firmly in the red amid continued nervousness ahead of an audit of Greece's finances. There is speculation that some countries in the Eurozone are demanding that private investors take a bigger hit on their holdings of Greek debt. European Commission Presi
Read moreFTSE 100 Movers: Man Group weighing down index
28th Sep 2011 14:10
Hedge fund manager Man Group took a dive after revealing that the group's 'long only' portfolios had taken a battering. The company's total funds under management at the end of September stood at $65bn, less than in March when the figure was £69.1bn and down $7bn since the end of June. Operation
Read moreLondon midday: Stocks win back losses after Barroso comments
28th Sep 2011 12:16
The top share index is flat now after winning back earlier losses, with comments by European Commission President Jose Manuel Barroso helping to stoke optimism that the euro crisis will be resolved. Barroso has called on the European Central Bank to do everything in its power to maintain stability
Read moreLondon open: Stocks ease after surge
28th Sep 2011 08:35
Shares have fallen back a little in early dealings, unsurprisingly given yesterday's surge. Hedge fund manager Man Group took investors by surprise though and the shares are sharply lower. It said statutory profit before tax on continuing operations for the six months ending 30 September 2011 total
Read more'Long only' funds take a bashing at Man
28th Sep 2011 07:24
Hedge fund manager Man Group saw a return to form of its flagship fund AHL in the second quarter of its financial year, as its 'alternative style' policy paid off, but the group's 'long only' portfolios took a battering over the same period. The company's total funds under management at the end of
Read moreLondon pre-open: Eurozone rescue hopes start to fade
28th Sep 2011 07:21
It looks like the wheels are starting to come off the Eurozone debt crisis rescue bandwagon, after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others. Though Wall Street had another positive
Read moreWednesday preview: Smiths Group, Man Group
27th Sep 2011 17:49
Medical devices and airport scanners maker Smiths Group has had an up-and-down year, which started with it rejecting a bid approach, went on to include a healthy increase in interim profits, followed by a warning on order delays in Smiths Detection and then, in June, a trading update that revealed r
Read moreBroker tips: Fund managers, asset managers, Lifeline Scientific
26th Sep 2011 14:33
RBS has upgraded its rating on Ashmore to "buy" from "hold" following heavy falls in the fund manager's share price lately. "We see the recent share price pullback as an excellent opportunity to gain exposure to this high quality business," RBS says. It points to Ashmore's "strong funds flow outlo
Read moreBroker snap: Buy Ashmore after falls, says RBS
26th Sep 2011 10:42
RBS has upgraded its rating on Ashmore to "buy" from "hold" following heavy falls in the fund manager's share price lately. "We see the recent share price pullback as an excellent opportunity to gain exposure to this high quality business," RBS says. It points to Ashmore's "strong funds flow outlo
Read moreLondon close: Good gains as FTSE 100 rallies
13th Sep 2011 16:58
Stocks rediscovered their earlier buoyancy to finish with strong gains as hopes of a resolution of the euro crisis attracted buyers. Today's big mover, Cairn Energy, fell sharply after reporting disappointing results from its drilling campaign offshore Greenland, with one well coming up dry and ano
Read moreLondon midday: Eurozone worries resurface
13th Sep 2011 12:07
This morning's bright start seems a distant memory now, with shares firmly in the red as worries over the Eurozone situation take centre stage again. Today's big mover, Cairn Energy is sharply lower after reporting disappointing results from its offshore drilling campaign offshore Greenland, with o
Read moreLondon open: M&B leads the rise after offer rejection
13th Sep 2011 08:32
Reports that China is planning to provide support to the Eurozone helped UK stocks higher on Tuesday morning, following a late recovery on Wall Street last night. Wall Street's rally was prompted by reports that Italy's government is negotiating with the Chinese government in the hope that Beijing
Read moreLondon close: Results drive stocks higher, Man up after upgrade
24th Aug 2011 16:38
Stocks finished with good gains after an uncertain start, with strong economic data from the US overriding the earlier mixed reception to today's raft of company updates. US orders for goods made to last more than three years, such as planes, cars and washing machines, rose by 4% in July, having fa
Read moreLondon midday: Stocks mixed after stream of updates
24th Aug 2011 12:10
The leading share index is flitting between red and blue amid differing receptions for today's stream of updates. Investors in Admiral are feeling mutinous despite pre-tax profits growing by 27%. However, according to a Thomson Reuters poll, the result was a slight miss. Miner BHP Billiton is hig
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