Broker snap: Credit Suisse reduces forecasts at Schroders
24th Jun 2011 11:45
Credit Suisse has reduced its forecasts for asset management firm Schroders given the decline in equity markets in the last month. "We have reduced our AUM [assets under management] forecasts for this year and next year by 6-7% reflecting lower markets and slightly more conservative flow assumption
Read moreLondon close: Late rally helped by the US
6th May 2011 16:41
The Footsie finished over 1% higher as an afternoon rally was helped by some better-than-expected US non-farm payrolls figures. According to the Bureau of Labor Statistics, non-farm payrolls rose by 244,000 in the month of April, while consensus had been pointing to a gain of 198,000. Banking gian
Read moreLondon close: Another day of big losses for FTSE 100
5th May 2011 16:51
Stocks fell sharply having started the day well, with banks and miners among the heaviest fallers. First quarter profits fell sharply at part-nationalised lender Lloyds Banking, which closed down 8% today, as the bank took an impairment charge that was half a billion pounds larger than it was expec
Read moreFTSE 100 movers: Schroders drops after profit misses targets
5th May 2011 15:26
Asset management firm Schroders has taken a tumble as profits came short of expectations in the first quarter. The group's profit before tax rose to £103.8m, from £93.2m in the first quarter of 2010, but that wasn't enough for investors who were hoping for a figure closer to £117m. Lloyds has also
Read moreSchroders slumps as profits disappoint
5th May 2011 08:55
Asset management firm Schroders saw funds under management (FUM) rise through the £200bn barrier in the first quarter of 2011. Total FUM rose to £201.4bn at the end of March from £196.7bn at the end of 2010. Net inflows totalled £3.0bn, all but £0.2bn of which came from institutional clients. The
Read moreFTSE 100 movers: Miners lead the decline
12th Apr 2011 13:54
Falling metals prices in response to escalating problems in Japan have pressured miners lower. Kazakhmys, Eurasian Natural Resources Corp, Anglo American, Antofagasta and Fresnillo are all losing 3% or more. Meanwhile, airline IAG and cruise operator Carnival are among the best performers, helped
Read moreBroker tips: St James's Place, Schroders, Punch Taverns
12th Apr 2011 13:27
UBS has downgraded wealth management group St James's Place (SJP) to 'neutral', from 'buy', despite saying that the company remains the "best run undiversified UK life company." However, UBS cuts its rating given the increasing odds of Lloyds selling its 60% stake in the company. The broker believe
Read moreBroker snap: Schroders upgraded on earnings momentum
12th Apr 2011 13:04
Credit Suisse upgrades fund manager Schroders from 'underperform' to 'neutral', saying that its valuation is increasingly attractive relative to the peer group given the strong earnings momentum. The broker has raised its revenue forecasts for 2011 and 2012 by 3-4% to reflect slightly higher assets
Read moreLondon close: Carnival sinks
22nd Mar 2011 16:57
A confident start was derailed by worse than expected inflation figures and a rally in the final hour of trading only brought out profit takers right at the death, leaving Footsie in the red. UK annual inflation rose faster than predicted in February, as surging utility bills drove up living costs.
Read moreLondon afternoon: Downward drift continues
22nd Mar 2011 14:09
Footsie lost more ground over the lunch time session as Wall Street opened mixed, failing to carry on the strong advance seen yesterday. GKN is lower on speculation of a bid for French peer Latecoere. The French aerospace firm, which provides doors for Boeing and Airbus, is looking for a buyer, acc
Read moreLondon open: Healthy early gains
22nd Mar 2011 08:55
A bit of momentum is building behind Footsie now, with fund managers and life groups going well. Schroders and Prudential are two of the best performers after the Dow rose again overnight to climb back through the 12,000 mark. Cairn Energy has yet to reach an agreement with the Indian authoritie
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 moreBramson vehicle buys more shares in F&C
15th Mar 2011 17:05
F&C Asset Management chairman Edward Bramson's investment vehicle SIGA LP has acquired more shares in the asset management company. Bramson was appointed chairman of F&C last month after a shareholder coup removed the previous incumbent, along with another non-executive, and appointed three new di
Read moreSchroders profit triples
10th Mar 2011 07:47
Fund manager Schroders grew full-year profit three-fold in 2010 and broke records in most areas, including assets under management at an all time high. Profit before tax for the year soared to £406.9m from £137.5m in 2009 when exceptional losses hit £62.7m. Stripping out one-off items, profit doubl
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