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Pin to quick picksRathbone Share News (RAT)

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)

More News
4 Apr 2023 17:08

LONDON MARKET CLOSE: Stocks in red; pound trades around USD1.25

(Alliance News) - Stocks in London finished lower on Tuesday, while the pound reached its highest level since June, as concerns around last month's banking crisis re-emerged.

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4 Apr 2023 13:39

Shares rise, but risks of inflation flare-up pick up

Stocks rise, led by miners, oil producers

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4 Apr 2023 12:12

Shares rise, but risks of inflation flare-up pick up

Stocks rise, led by miners, oil producers

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4 Apr 2023 11:53

LONDON MARKET MIDDAY: FTSE 100 up; eurozone PPI cools in February

(Alliance News) - Stock prices in Europe were in the green on Tuesday around midday, after news that annual eurozone factory gate inflation cooled in February.

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4 Apr 2023 09:25

Rathbones snaps up Investec's UK wealth arm in all-share deal

Deal gives Investec unit an equity value of 839 mln stg

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4 Apr 2023 09:09

LONDON MARKET OPEN: Shares firm amid "hawkish hold" in Australia

(Alliance News) - London share prices opened mostly higher on Monday, as investors came to terms with the Opec+ oil production cut and after Australia's central bank paused its interest rate hikes.

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4 Apr 2023 08:09

TOP NEWS: Rathbone agrees to merge with Investec UK wealth arm

(Alliance News) - Investec PLC and Ltd Rathbones Group PLC on Tuesday said they have agreed an all-share merger of Rathbones with Investec Wealth & Investment Ltd to create one of UK's leading wealth manager.

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4 Apr 2023 07:52

LONDON BRIEFING: Rathbone to merge with Investec's UK wealth arm

(Alliance News) - Stocks in London were called to open higher on Tuesday, after the Reserve Bank of Australia decided to pause interest rate hikes, while Rathbones and Investec agreed a combination to create a UK wealth manager with GBP100 billion in assets.

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4 Apr 2023 07:20

Rathbones, Investec's UK wealth arm to merge in deal valued at 839 mln stg

LONDON, April 4 (Reuters) - Rathbones said on Tuesday it had agreed to merge with the UK wealth business of Investec in an all-share deal valuing the latter's business at 839 million pounds ($1.04 billion).

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4 Apr 2023 07:18

Investec wealth arm to merge with Rathbones in £839m deal

(Sharecast News) - The UK wealth business of Investec and Rathbones have agreed to merge in an £839m all-share deal, the two companies said on Tuesday.

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7 Mar 2023 09:41

Berenberg downgrades Rathbones to 'hold'

(Sharecast News) - Berenberg downgraded Rathbones Brothers on Tuesday to 'hold' from 'buy' and cut the price target to 2,200p from 2,400p as it said it sees better risk/reward elsewhere in the sector, at companies such as IntegraFin, Petershill Partners and Investec.

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7 Mar 2023 09:30

LONDON BROKER RATINGS: Davy ups Purplebricks; JPMorgan cuts Clarkson

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

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6 Mar 2023 09:48

LONDON BROKER RATINGS: DB cuts Reckitt; Jefferies likes Tesco

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

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1 Mar 2023 09:58

Rathbones profit and funds under management fall in tricky 2022

(Alliance News) - Rathbones Group PLC on Wednesday reported a fall in funds under management as its single-strategy funds suffered net outflows during a tough 2022 that "few of us correctly predicted".

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