London open: Admiral drags Footsie into the red
24th Aug 2011 08:29
Early gains proved short-lived as the blue chip index in London fell into the red by 08.32, dragged lower by Admiral and the miners, who were registering losses on the back of falling metals prices. Admiral was the worst performer on the FTSE 100, losing over 5% after despite pre-tax profits growi
Read moreFTSE 100 movers: Stress tests provide concern for banks
18th Jul 2011 13:55
The banks were the heavy fallers on Monday, as the results of Friday's stress tests on the Europe's banks were seen as too soft. Markets across the continent were disappointed with the tests, with reports from Bloomberg saying that European banks may need to raise up to €80bn of extra capital after
Read moreMan to transfer Lehman exposure from GLG
18th Jul 2011 07:29
Investment management business Man Group is to acquire the remaining exposure to the estates of the now-bankrupt US investment bank, Lehman Brothers, from funds managed by its subsidiary, GLG Partners, for $355m in cash. The transactions - which are valued at current net asset value - "will remove
Read moreLondon close: Footsie hits two-month high
7th Jul 2011 16:28
The Footsie finished at levels not seen since early May on Thursday after the Bank of England rate decision and a strong start in the US buoyed sentiment in London. At midday, Bank of England policy makers left interest rates on hold at the record low of 0.5%. The lack of movement was largely expec
Read moreFTSE 100 movers: Man Group rises after impressive quarter
7th Jul 2011 15:30
Man Group is the high riser of the day, gaining over 3.5% in the afternoon, after reporting record sales in its first quarter. Funds under management at the hedge fund manager rose to $71bn at the end of June, from $69.1bn at the end of March, as the group racked up sales of $9.0bn to record a net
Read moreLondon midday: Stocks keep gains
7th Jul 2011 12:05
Stocks remain slightly in the blue although the calm masks some big moves in both directions after a stream of company updates Man Group is setting the pace in the FTSE 100. Funds under management (FUM) at the hedge fund manager rose to $71bn at the end of June from $69.1bn at the end of March as t
Read moreLondon open: Man leads FTSE 100 higher
7th Jul 2011 08:27
Stocks have got off to a decent start as expected, with hedge fund Man Group leading the way in the FTSE 100. Funds under management (FUM) at the hedge fund manager rose to $71bn at the end of June from $69.1bn at the end of March as the group racked up record sales in the quarter of $9.0bn, to pos
Read moreLondon pre-open: Stocks on the front foot
7th Jul 2011 07:45
Taking its lead from Wall Street, which edged higher yesterday despite some indifferent economic data, UK stocks are set to open firmer, with City traders predicting the Footsie will open at around 6,026, up 23 points from last night's close. Funds under management (FUM) at hedge fund manager Man G
Read moreRecord sales at Man Group in challenging quarter
7th Jul 2011 07:10
Funds under management (FUM) at hedge fund manager Man Group rose to $71bn at the end of June on the back of record sales for the quarter. FUM climbed from $69.1bn at the end of March as the group racked up sales in the quarter of $9.0bn to record a net inflow of $3.7bn after redemptions of $5.3bn.
Read moreThursday preview: BoE rate decision, Babcock, Man Group
6th Jul 2011 16:46
The monthly meetings of the Bank of England´s monetary policy committee (MPC) are increasingly becoming non-events, with the results of the votes on interest rates and the asset purchase scheme both foregone conclusions. The market consensus is that the monetary authority will not announce any cha
Read moreLondon close: Utilities provide late boost
27th Jun 2011 16:39
The Footsie closed near its daily highs after a strong start on Wall Street. Utilities stock lead the rise, while financials were lower. Utilities stocks finished higher, with United Utilities Group and Severn Trent making gains of nearly 3.7% and 2.2%, respectively. Financials were among the wors
Read moreFTSE 100 movers: Man Group leads financials lower
27th Jun 2011 14:35
Financials are among the worst performers of the day, helping to drag the FTSE 100 below the 5,700 level. Hedge fund manager Man Group is the heaviest fallers, losing nearly 4% as of 14:40 on Monday afternoon.RBS and Barclays are trading 1.7% and 1.2% lower, respectively. The mining sector has bee
Read moreLondon close: Stocks end flat ahead of Fed statement
22nd Jun 2011 16:44
After a poor start, the Footsie was pulled into positive territory for a brief moment but ended flat ahead of the Federal Reserve's decision over the interest rate and a possible QE3. Expectations are for the rate-setting committee to announce few changes, but one never knows for sure. There is now
Read moreFTSE 100 movers: Man Group leads the recovery
22nd Jun 2011 15:33
Hedge fund manager Man Group is the high riser of the day, pulling the Footsie back into positive territory, after some kind words from Credit Suisse. Man is "moving in the right direction", according to the Swiss brokerage, who upgraded the firm from a 'neutral' to an 'outperform' rating. "Clearly
Read moreLondon close: Greek concerns weigh on financials
20th Jun 2011 16:43
The Footsie finished moderately lower on Monday afternoon as Greek debt crisis dragged on. Financials were among the fallers over concerns of a possible Greek default, as Europe's finance ministers remain at loggerheads over dishing out a chunk of the €110bn bailout money agreed last year for the c
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