London pre-open: London to resume on firm note
3rd May 2011 07:40
After the long week-end London is set to open modestly firmer with City sources suggesting the blue-chip index may open around 16 points up from Thursday's close of 6,070. Catering giant Compass has added to its overseas operations with the acquisition of a food service business in Sweden. It will
Read moreFTSE 100 movers: Autonomy tops risers on record earnings
21st Apr 2011 13:23
Data search software firm Autonomy is topping the risers after it posted record earnings in the first quarter as it benefitted from the increasing popularity of cloud computing, a means of storing data remotely. Retail giant Next is wanted after UBS hiked up its forecasts on a better margin outloo
Read moreBroker tips: Man, Next, Dragon Oil
21st Apr 2011 12:24
RBS raises the target price for Man Group and moves to a "glass half-full" stance, saying that the hedge fund manager is now trading on more realistic earnings and valuation metrics following recent declines. "Man Group has disappointed the market on fund flows over the past two quarters and thus o
Read moreBroker snap: Glass half-full for Man Group
21st Apr 2011 12:15
RBS raises the target price for Man Group and moves to a "glass half-full" stance, saying that the hedge fund manager is now trading on more realistic earnings and valuation metrics following recent declines. "Man Group has disappointed the market on fund flows over the past two quarters and thus o
Read moreWednesday tips round-up: Wolseley, GKN, Man Group
30th Mar 2011 06:36
Wolseley, which operates the Plumb and Build Center brands in the UK, said yesterday construction sectors had now "broadly stabilised" in most of the 25 countries in which it operates. The group now trades on a forward-earnings multiple of just under 17. Even with the dividend, this lofty valuation
Read moreLondon close: Shares stage late rally
29th Mar 2011 16:38
The top share index staged a recovery ahead of the close, helped by Wall Street snapping out of a sluggish start. BP was a laggard. One of the oil giant's major shareholders, Standard Life, has told the oil giant to walk away from its troubled deal with Russian state oil company Rosneft. BP wants
Read moreLondon afternoon: Downward drift continues
29th Mar 2011 14:59
Shares continue to drift lower with BP leading the way down as concerns about its Russian expansion plans rumble on. One of BP's major shareholders, Standard Life, has told the oil giant to walk away from its troubled deal with Russian state oil company Rosneft. BP wants to push ahead with the sh
Read moreLondon midday: Shares seeking direction
29th Mar 2011 12:23
The top share index is struggling to find any sense of direction for the second day in a row. Building supplies group Wolseley's results found favour, but BP is under pressure. BP is also under pressure after major shareholder Standard Life told it to walk away from its troubled deal with Russian s
Read moreLondon open: Blue chips mark time again
29th Mar 2011 08:52
London is marking time this morning with investors keeping a wary eye on events in Japan and Libya. BP is also under pressure after major shareholder Standard Life told it to walk away from its troubled deal with Russian state oil company Rosneft. BP wants to push ahead with the share-swap that w
Read moreJapan earthquake hits Man's AHL fund
29th Mar 2011 07:09
Hedge fund giant Man again needed the help of recent acquisition GLG as market uncertainty following the earthquake in Japan took its toll on its core AHL fund. Funds under management over the past three months edged up to $69bn from $68.6bn at December, though AHL's performance "turned sharply dow
Read moreBroker tips: Gaming, Man Group, Northgate
21st Mar 2011 12:58
Peel Hunt does not expect any significant changes to gaming taxation from this week's Budget, but notes that the chancellor may throw down a marker that could have significant implications for parts of the gaming industry in the long term. The previous government gave gaming companies the option of
Read moreBroker snap: Man Group upgraded after share price weakness
21st Mar 2011 11:42
In spite of RBS's preference lying elsewhere in the sector, it upgrades hedge fund manager Man Group to 'hold', from 'sell', following the recent share price weakness. The broker estimates that Man has around 23% of its group funds under management (FUM) exposed to Japan: 15% sourced from Japanese
Read moreMan Group wins BVK managed account mandate
8th Mar 2011 08:14
Hedge fund manager Man Group has secured a managed account mandate for an initial €1.2bn ($1.7bn; £1bn) from Germany's biggest public pension fund Bayerische Versorgungskammer (BVK). BVK will begin allocating funds over the course of 2011, adding to the $8.7bn (€6.2bn; £5.4bn) of managed account as
Read moreMan Group assets get GLG boost
20th Jan 2011 07:47
Hedge fund manager Man Group's $1.6bn purchase of GLG Partners last year helped assets under management grow more than expected in its third quarter. Assets under management were $68.6bn at the end of December, including a $25.4bn contribution from GLG, up from $40.5bn in September and slightly mor
Read moreFTSE 100 movers: Financials lead market higher
9th Dec 2010 13:07
Financials dominate the risers on the Footsie as the Bank of England keeps the base rate unchanged and confidence recovers in the global economy. Man Group and RBS are both more than 3% ahead on the day. Cobham is the best performer even though the defence group will be dropped from the index on 2
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