Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMan Share News (EMG)

Share Price Information for Man (EMG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 267.40
Bid: 267.50
Ask: 267.90
Change: 3.30 (1.25%)
Spread: 0.40 (0.15%)
Open: 265.40
High: 268.40
Low: 264.40
Prev. Close: 264.10
EMG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Investors cut Russia exposure amid Ukraine crisis; banks slide

Tue, 01st Mar 2022 10:21

LONDON, March 1 (Reuters) - Major investors, including hedge fund Man Group and British asset manager abrdn, said on Tuesday they were cutting their positions in Russia in the wake of the country's invasion of Ukraine.

Their pronouncements came as ripple effects of sanctions on Russia were making themselves felt, with Visa Inc and Mastercard Inc blocking multiple Russian financial institutions from their networks.

Elsewhere, Germany's market regulator BaFin said that it was closely monitoring the European arm of Russia's VTB Bank , which was no longer accepting new clients.

Meanwhile, shares in some European banks remained under pressure after heavy declines on Monday because of lenders' exposure to Russia. The sector remained volatile as Moscow started day six of its invasion.

Asset manager abrdn has around two billion pounds of client money invested in Russia and Belarus and has been cutting its positions, Chief Executive Stephen Bird said.

"We will not invest in Russia and Belarus for the foreseeable future," Bird said.

Man Group cut its investments in Russia in recent weeks and now has 'negligible' exposure to Russia and Ukraine across its portfolio, its Chief Financial Officer Antoine Forterre told Reuters on Tuesday.

The London-based fund first cut exposure to the region in its discretionary emerging markets fund in December, he said, before the hedge fund's other strategies began reducing risk in the last two weeks.

Shares of Austria's Raiffeisen Bank International were down 4.9% in late morning, after sliding 14% on Monday. Shares of Italy's UniCredit fell 0.9%, after Monday's 9.5% fall.

The European Central Bank has put banks with close ties to Russia, such as Raiffeisen and the European arm of VTB, under close observation following sweeping financial sanctions by the West that have already pushed one Russian lender over the edge, two sources told Reuters.

Tuesday's share price swings and investor comments came as Russia faced increasing isolation over its invasion of Ukraine, with resistance on the ground denying President Vladimir Putin decisive early gains despite heavy shelling and a huge military convoy outside Kyiv.

Shares of leading banks fell with the European banking sector down 1.9%, after a 4.5% fall on Monday.

In recent days, the United States, Britain, Europe and Canada announced a raft of new sanctions - including blocking certain Russian lenders' access to the SWIFT international payment system.

In response, the London Stock Exchange said on Tuesday it would stop trading in two global depository receipts (GDRs) for VTB Bank after Britain's financial regulator suspended them in response to sanctions.

India's top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter.

Amid wild swings in bank shares, bankers have sought to reassure investors and the public, saying they are well capitalised and that their footprints in Russia are relatively small.

Deutsche Bank Chief Executive Christian Sewing told the Bild newspaper that it would be wrong to assume a quick resolution to the crisis in Ukraine following the exclusion of Russian banks from the SWIFT payment system.

"That would be the wrong expectation," Sewing said.

More News
14 Mar 2024 09:51

LONDON BROKER RATINGS: Kepler Cheuvreux likes Diageo; BofA lifts Man

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
7 Mar 2024 11:08

Numis upgrades Man Group to 'buy'

(Sharecast News) - Numis has lifted its recommendation for investment manager Man Group from 'hold' to 'buy' and hiked its target price from 260p to 315p, saying that the company's decent short-term investment performance "cannot be ignored".

Read more
7 Mar 2024 08:54

LONDON BROKER RATINGS: ITV, LondonMetric, Man, Domino's get upgrades

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
5 Mar 2024 11:02

IN BRIEF: Man Group unveils USD50.0 million share buyback programme

Man Group PLC - London-based investment management firm, which specialises in real estate equity and private credit - Announces share buyback programme of up to USD50.0 million. Says this will begin immediately and end on March 2, 2025. Says the programme is in line with its policy to distribute capital to shareholders "while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities". Appoints Barclays Bank PLC to conduct the programme on its behalf.

Read more
4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
29 Feb 2024 16:05

London close: Stocks finish positive as US inflation moderates

(Sharecast News) - London's stock markets finished with moderate gains on Thursday, buoyed by a combination of factors including a slowdown in US inflation, robust UK earnings reports, and encouraging mortgage approvals figures.

Read more
29 Feb 2024 11:37

Man Group profits sink despite record assets under management

(Alliance News) - Man Group PLC on Thursday said that it had wrestled with a challenging geopolitical and economic backdrop in 2023, as the firm reported a significant fall in profits and revenue for the year.

Read more
29 Feb 2024 10:17

Annual profits tumble at Man Group

(Sharecast News) - Man Group posted a slump in annual profits on Thursday, despite a jump in assets under management, after performance fees tumbled.

Read more
22 Feb 2024 14:26

UK earnings, trading statements calendar - next 7 days

Friday 23 February 
City of London Investment Group PLCHalf Year Results
Irish Residential Properties REIT PLCFull Year Results
Standard Chartered PLCFull Year Results
Monday 26 February 
Base Resources LtdHalf Year Results
Bunzl PLCFull Year Results
EnSilica PLCHalf Year Results
Kosmos Energy LtdFull Year Results
Made Tech Group PLCHalf Year Results
Tristel PLCHalf Year Results
Tuesday 27 February 
abrdn Equity Income Trust PLCFull Year Results
abrdn PLCFull Year Results
Croda International PLCFull Year Results
Kitwave Group PLCFull Year Results
McBride PLCHalf Year Results
PCI-PAL PLCHalf Year Results
Smith & Nephew PLCFull Year Results
Synectics PLCFull Year Results
Uniphar PLCFull Year Results
Unite Group PLCFull Year Results
Wednesday 28 February 
AB Dynamics PLCTrading Statement
ASA International Group PLCTrading Statement
Aston Martin Lagonda Global Holdings PLCFull Year Results
Avingtrans PLCHalf Year Results
Bluefield Solar Income Fund LtdHalf Year Results
Derwent London PLCFull Year Results
Glenveagh Properties PLCFull Year Results
Grit Real Estate Income Group LtdHalf Year Results
Harmony Energy Income Trust PLCFull Year Results
Hutchmed China LtdFull Year Results
International Personal Finance PLCFull Year Results
Just Eat Takeaway.com NVFull Year Results
Primary Health Properties PLCFull Year Results
Reckitt Benckiser Group PLCFull Year Results
Renewables Infrastructure Group LtdFull Year Results
RHI Magnesita NVFull Year Results
St James's Place PLCFull Year Results
Taylor Wimpey PLCFull Year Results
Thursday 29 February 
Cairn Homes PLCFull Year Results
CVS Group PLCFull Year Results
Drax Group PLCFull Year Results
Faron Pharmaceuticals LtdFull Year Results
Haleon PLCFull Year Results
Hammerson PLCFull Year Results
Howden Joinery Group PLCFull Year Results
Hunting PLCFull Year Results
International Biotechnology Trust PLCFull Year Results
London Stock Exchange Group PLCFull Year Results
Macfarlane Group PLCFull Year Results
Man Group PLCFull Year Results
Mobico Group PLCFull Year Results
Nexus Infrastructure PLCFull Year Results
Ocado Group PLCFull Year Results
PPHE Hotel Group LtdFull Year Results
Schroder Oriental Income Fund LtdFull Year Results
Schroders PLCFull Year Results
Serco Group PLCFull Year Results
Shaftesbury Capital PLCFull Year Results
Spectris PLCFull Year Results
Spire Healthcare Group PLCFull Year Results
Vesuvius PLCFull Year Results
Weir Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
20 Feb 2024 09:40

LONDON BROKER RATINGS: JPMorgan cuts Airtel Africa price target by 28%

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
10 Jan 2024 09:35

LONDON BROKER RATINGS: BofA cuts Ashtead; UBS likes 3i Group

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
5 Jan 2024 08:12

Man Group director departs to head up US Fed Bank of St Louis

(Alliance News) - Man Group PLC on Friday said Independent Non-Executive Director Alberto Musalem will leave the board to become the next president & chief executive of the US Federal Reserve Bank of St Louis.

Read more
5 Jan 2024 07:39

LONDON BRIEFING: Clarkson to beat expectations; Ithaca CEO leaves

(Alliance News) - Stocks in London are expected to head lower at Friday's market open, as the year-end optimism about US rate cuts ebbs ahead of crucial economic data.

Read more
15 Dec 2023 09:28

LONDON BROKER RATINGS: SocGen cuts Centrica; Barclays raises Trainline

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
28 Nov 2023 15:30

London close: Stocks slip after mountain of broker notes

(Sharecast News) - London's stock markets finished in the red on Tuesday as investors deliberated over the latest shop price data, as well as a deluge of broker notes.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.