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Share Price Information for Rathbone (RAT)

London Stock Exchange
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Share Price: 1,728.00
Bid: 1,730.00
Ask: 1,742.00
Change: -38.00 (-2.15%)
Spread: 12.00 (0.694%)
Open: 1,744.00
High: 1,760.00
Low: 1,708.00
Prev. Close: 1,766.00
RAT Live PriceLast checked at -

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FTSE 100 falls as oil stocks drag, pound rises

Tue, 04th Apr 2023 17:27

OKYO Pharma slumps on LSE delisting plans

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Rathbones climbs on Investec's merger deal

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FTSE 100 down 0.5%, FTSE 250 off 0.3%

April 4 (Reuters) - London's FTSE 100 ended lower on Tuesday, a day after hitting a three-week high, bogged down by a stronger pound and weakness in the shares of oil majors.

The internationally focussed FTSE 100 fell 0.5%, snapping a six-day winning streak, as the pound rose 0.7% after touching its highest levels since June.

BP Plc and Shell Plc fell 1.0% and 1.9% respectively, despite rising oil prices, while industrial goods , down 0.8%, also weighed on the FTSE 100.

"One of the worst sectors right now is energy, which was certainly a big winner yesterday. We are seeing a little profit taking there," said Steve Sosnick, chief strategist at Interactive Brokers.

Precious metal miners were a bright spot, up 1.6% as spot gold prices gained on weaker U.S. job openings data.

The domestically oriented FTSE 250 shed 0.3%.

Both FTSE indexes ended the first quarter with gains.

However, a recent spike in oil prices and signs of U.S. economic weakness and uncertainty about further monetary tightening have weighed on sentiment.

Bank of England Chief Economist Huw Pill said the central bank still cannot be sure that it has raised interest rates enough to tame inflation.

Rathbones Group Plc advanced 1.8% as the wealth manager said it had agreed to buy the UK wealth business of Investec Plc in an all-share deal valued at 839 million pounds ($1.04 billion). Shares of Investec climbed 1.6%.

Saga Plc plunged 16.5% after the holiday group noted that its insurance unit — which includes its underwriting arm whose potential sale to Australia's Open was terminated last month — has been battling high claims inflation.

Among other major movers, OKYO Pharma Ltd dropped 14.6% after the bio-pharmaceutical company said it plans to delist from the London Stock Exchange next month, citing tepid trading volumes and low valuations.

"U.S.-listed stocks have a higher valuation and they could probably get better shareholder value there," said Michael Hewson, chief market analyst at CMC Markets. (Reporting by Johann M Cherian and Shristi Achar A in Bengaluru; Editing by Subhranshu Sahu, Shailesh Kuber and Richard Chang)

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Rathbones reflects on "transformational" year as integrates IW&I

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6 Mar 2024 07:24

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(Sharecast News) - Rathbones Group reported substantial growth in funds under management and administration (FUMA) in its preliminary results for 2023 on Wednesday, rising to £105.3bn from £60.2bn year-on-year, fueled largely by the acquisition of Investec Wealth & Investment UK (IW&I).

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28 Feb 2024 15:47

UK earnings, trading statements calendar - next 7 days

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17 Jan 2024 10:45

IN BRIEF: Rathbones suffers fund outflows at merged Investec business

Rathbones Group PLC - London-based investment and wealth management - Funds under management and administration rise 4.6% to GBP105.3 billion as of December 31 from GBP100.7 billion on September 30 and nearly double from GBP60.2 billion a year before, thanks to the addition of the UK wealth business of Investec PLC. Net flows in wealth management are about flat in the fourth quarter of 2023, as GBP400 million in net inflows at Rathbone Investment Management are offset by GBP300 million in net outflows at Investec Wealth & Investment.

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17 Jan 2024 10:30

Rathbones funds under management grows as it integrates Investec Wealth

(Sharecast News) - Wealth manager Rathbones Group reported total funds under management and administration, including Investec Wealth & Investment (IW&I), of £105.3bn at the end of December on Wednesday.

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