London 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 moreRecord profits at Ashmore, though margin eases
13th Sep 2011 07:35
The year to the end of June saw assets under management (AuM) and profits hit record levels at asset manager Ashmore Group, though the former was boosted by the takeover of Emerging Markets Management (EMM). Profit before tax rose 13% to £245.9m from £217.2m the year before, on total net revenue th
Read moreLondon pre-open: London likes idea of Chinese cavalry
13th Sep 2011 07:30
After Wall Street's dramatic late recovery yesterday, London is expected to open firmer today, with City sources predicting the FTSE 100 will open up 75 points from yesterday's close of 5,130 on hopes that the Chinese government will ride to the rescue of the Eurozone. Wall Street's rally was promp
Read moreTuesday preview: Ashmore, Abcam
12th Sep 2011 15:53
Fund manager Ashmore is set to issue full-year results on Tuesday. Singer Capital Markets is a fan of the shares and expects that with positive returns since the company's financial year end, flow momentum will have remained strong. "Furthermore, the flagship external debt fund, EMLIP, crystallises
Read moreWeek Ahead: Next, Kingfisher, Ashmore
9th Sep 2011 13:51
Two stalwarts of the UK high street are reporting next week, namely fashion chain Next and DIY retailer Kingfisher. Charles Stanley is expecting Next to report a solid set of interim results, with profit before tax of £240m, up from £214m at the halfway stage last year. Earnings before interest, t
Read moreFriday tips round-up: Pendragon, Centaur, ABF
15th Jul 2011 06:33
The rights issue from Pendragon, our biggest car dealer, does the job of shoring-up the finances and putting the business in a better shape to go ahead. It is also enormous, nine new shares for eight and at 10p, is a 54% discount to the last closing share price. Nick Bubb at Arden Partners is looki
Read moreFTSE 250 movers: Kraft's exec takes helm at Premier Foods
14th Jul 2011 15:12
Premier Foods unveiled industry veteran Mike Clarke as its new head honcho, which pleased the investors as shares shot up 10%. Premier Foods, which has lost about 15% of its value since the company's announcement of a profit fall, was the top flyer on the index. Clarke, currently President of Kraft
Read moreInvestors back Ashmore's currency strategy
14th Jul 2011 10:46
Ashmore Group, the FTSE 250 investment manager, saw a 31% increase in assets under management in its final quarter. This performance was achieved through several significant increases scored by the firm's investment "themes". Notably, local currencies saw a 24% increase while corporate debt rose 27
Read moreBroker tips: Punch, PZ Cussons, Ashmore
14th Apr 2011 12:44
Credit Suisse retains its 'outperform' rating at pub owner Punch Taverns, but cuts its target price saying that a turnaround in its Spirit arm its not yet fully appreciated by the market. "We believe the demerger makes sense, as it will separate the Spirit business, which is growing and has turnaro
Read moreBroker snap: Ashmore's FUM exceed forecasts
14th Apr 2011 12:05
While Ashmore Group's funds under management (FUM) in the third quarter were ahead of RBS's expectations, the broker keeps its 'hold' rating but says the results justify the stock's premium rating to the sector. The emerging markets asset manager reported FUM of $50.3bn, 3.5% ahead of the broker's
Read moreCurrency hedging boost for Ashmore
14th Apr 2011 08:30
Assets under management (AUM) at emerging markets asset manager Ashmore Group grew again in the first quarter of 2011, with the group seeing good inflows across of a range of local currency accounts. AUM grew 8% in the first three months of 2011 to $50.3bn from $46.7bn at the end of 2010. Net inflo
Read moreFriday tips round-up: National Express, Croda, Ashmore...
25th Feb 2011 07:00
Finally, some good news for much-troubled National Express. From the doldrums of a scrapped rail franchise and sharp financial losses in 2009, the transport group posted annual results for 2010 yesterday showing a return to profit and a proposed final dividend of 6p per share. National Express has
Read moreAshmore boosts funds under management
24th Feb 2011 18:14
Emerging markets investment manager Ashmore has reported interim figures in line with expectations and announced the purchase of 62.9% of Emerging Market Management LLC (EMM). Ashmore is paying an initial $126m, of which $96m is in cash and the rest in shares, with up to $120m more payable dependi
Read moreAshmore assets grow as funds flow in
13th Jan 2011 11:12
Emerging markets asset manager Ashmore saw strong inflows in the three months to December 31, helping to make up for a weak investment market. Assets under management rose to $46.7bn (£29.8m) from $46.1bn during the quarter as inflows of $5.2bn dwarfed a $0.1bn drop caused by an adverse investment
Read moreLondon close: Weak end to dull day
14th Oct 2010 16:35
Leading shares closed lower on a poor day for the banks and a tumble for African Barrick. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices are back on the rise as the dollar heads
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