15 Feb 2016 09:33
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Don't have an account? Click here to register.Aberdeen Asset Management boosted by RBC Capital upgrade
Wed, 08th Feb 2017 09:26
(ShareCast News) - RBC Capital Markets has upgraded Aberdeen Asset Management to 'sector perform' from 'underperform' but trimmed the target price to 285p from 290p.The bank said the risk in the near term is to the upside based upon an oversold share price, a reasonable valuation, a high dividend yield, stabilising revenue margin, well controlled cost base, and the real possibility of M&A."Aberdeen's negatives are well-known by the market and more than reflected in the share price; we thus believe an upward redistribution of analyst ratings is more likely than an increase in the negative bias of the distribution."RBC said the biggest risk remains a recovery in net flows. Aberdeen has experienced around £80bn in net outflows in the last nine quarters alone, and since the beginning of full-year 2014, equity net outflows are around £50bn."Despite these staggering statistics and our forecast for elevated net outflows in FY17E, we anticipate a material recovery in flows in FY18E. Should flows not recover as we anticipate, today's upgrade could be premature."At 0935 GMT, the shares were up 3.1% to 258.60p.
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15 Feb 2016 08:43
11 Feb 2016 14:37
FTSE 100 movers: Banking shares drive index down
(ShareCast News) - The FTSE 100 resumed its slide on Thursday, with the blue-chip index dropping 80.51 points (1.42%) to 5,591.79 points by mid-afternoon. Banking shares were under pressure, with Barclays and Standard Chartered among the top fallers, after Societe Generale's profit warning added to
Read more11 Feb 2016 12:19
4 Feb 2016 16:14
BUZZ-European stocks: the squeeze is on
** Heavily shorted stocks jump across the board, spearheaded by miners, with Anglo American +22.6%, Antofagasta +16.7% and Glencore 15.2% higher ** Anglo American on track for 2nd biggest rise ever, best Nov 2008 (stock -65% in last 6 mths until Weds close); ANTO best day since Mar 2009Read more
1 Feb 2016 10:40
MOVES-Aberdeen's CIO Anne Richards to take helm at rival M&G Investments
* M&G's Michael McLintock to retire * Move to occur later in 2016, subject to clearances * Shares in Prudential lead FTSE 100 lower after news (Adds details) By Simon Jessop and Carolyn Cohn LONDON, Feb 1 (Reuters) - Aberdeen Asset Management Chief Investment Officer An
Read more1 Feb 2016 09:06
MOVES-Aberdeen CIO Anne Richards to take over helm at rival M&G Investments
* M&G's Michael McLintock to retire * Move to occur later in 2016, subject to clearances * Richards' role at Aberdeen to be split By Simon Jessop and Carolyn Cohn LONDON, Feb 1 (Reuters) - Aberdeen Asset Management Chief Investment Officer Anne Richards is to take over as
Read more1 Feb 2016 08:30
M&G Investments poaches Aberdeen's Richards as new chief executive
(ShareCast News) - Prudential has wooed Aberdeen Asset Management's chief investment officer Anne Richards to take over leading M&G Investments. The FTSE 100 company announced on Monday that Michael McLintock has decided to retire as chief executive of its subsidiary. Richards is currently responsi
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