Woodford: Owning Capita was a mistake but not now
Days after Capita saw its shares plummet more than 40%, Neil Woodford has said he will not abandon his holdings in the business process outsourcing firm, even though “it has been a poor investment”.
Companies
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£5.1bn UK advice firm up for sale
Despite growing assets under management by 10%, the parent company of UK advice firm Saunderson House is looking to sell the business. Sipp provider James Hay will be retained, even as it faces a £20m fine for investments in defunct Guernsey-listed biofuel scheme Elysian Fuels.
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BT ‘not a pretty picture’ as earnings miss expectations
BT’s third quarter update failed to live up to analyst expectations, with earnings falling 2% to £1.8bn.
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Provident Financial’s shares spike 5% as new CEO confirmed
Provident Financial’s share price saw a modest gain on Friday morning after confirming it had finally found a CEO replacement.
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Mixed fortunes for FTSE 100 income favourites
Markets were non-plussed by equity income favourites, Vodafone, Unilever and Royal Dutch Shell, on Thursday despite the latter two producing a decent set of final results.
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Capita shares plummet 40% on firm’s ‘lack of operational discipline’
Shares in Capita plummeted 40% on Wednesday after the tormented outsourcing firm announced a rights issue and that it had suspended its dividend.
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Informa clinches £3.8bn takeover of UBM
Informa has struck a deal to acquire UBM for £3.8bn, forming a business to business (B2B) publishing giant.
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SJP’s FUM soars to £90.7bn as Brewin’s hits £42bn
St James’s Place’s market dominance showed no signs of letting up, as it grew funds under management (FUM) by 20% to £90.7bn in 2017. Meanwhile, Brewin Dolphin reported “positive momentum” in the first quarter.
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Brooks Macdonald approaches £12bn in FUM
Brooks Macdonald’s total funds under management neared a record £12bn off the back of “good portfolio performance” and a pickup in new business.
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Charles Stanley nears £25bn despite outflows
Despite £100m of net outflows, Charles Stanley ended the third quarter with total funds under management and administration (FUMA) closing in on £25bn.
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Buying spree sends Harwood profits up 600%
Aim-listed Harwood Wealth Management has posted a small profit after tax of £0.7m for the financial year ending 31st October 2017 up from £0.1m the previous year as it continues its acquisition spree.
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Research ‘value-add’ questioned as analysts miss mark
Analysts missed the mark more often than not with their FTSE 100 recommendations in 2017, raising more questions about the “value-add” of research, data from AJ Bell has revealed.
