Probably need one our periodic takeover rumours to restore the 200+ SP. Shouldn't have to wait too long as its been a while.... Hell, I was thinking of getting out at 130, and would have been very happy, so I really can't complain about 170.
I thought the results were pretty good too, certainly not enough to explain a drop from over 200 to below 170. Is somebody seeing something I'm not? What a shame - it's quite a big fly in my otherwise very profitable ointment today!
Some explanation for recent falls (taken from Yahoo finance) -
Investors offloaded shares in Man Group as worries grew that markets had turned against the hedge fund business and its most profitable trades were starting to collapse. The FTSE 250 group slid 10.6p, or 5.8pc, to 172.9p, adding to Monday’s 5.5pc drop, amid mouting speculation that its computer-driven AHL fund had been hit by the recent rally in oil and the sell-off in the dollar. “Man’s share price and the net asset value of AHL are still almost perfectly correlated,” said RBC Capital Markets analyst Peter Lenardos. Based on AHL’s first quarter performance, “the market believes that AHL is short oil and long the dollar. And what has happened is a lot of those trades are unwinding.”
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