HSBC leads FTSE 100 higher despite profit slide
HSBC gained 4.88% in early trading as it reported its Q3 results, despite posting an 86% fall in profits for the period.
Companies
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Paddy Power Betfair shares leap as revenue rise revealed
Paddy Power Betfair raised its full year profits guidance after delivering a robust performance over the third quarter.
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RLAM reports jump in flows
In the year to 30 September 2016, RLAM reported an increase in net new inflows from £2.5bn to £4.8bn.
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Schroders’ AUM inflated by weaker pound despite inflow dip
Sterling weakness lifted Schroders’ assets under management by close to 30% during the first nine months of the year in the face of diminished inflows.
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Next up as global markets run red on US worries
Global markets were a sea of red on Wednesday morning, as investors grew increasingly worried about the US election. But there were pockets of green to be found in some of the more domestically focused areas of the UK market.
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Persimmon building confidence after post-Brexit pain
Persimmon is showing signs of recovery following its immediate pain following the EU Referendum vote as reported in its Q3 trading update.
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BP Q3 profits halve while Shell sees benefits of BG acquisition
Shares in BP fell by 3.8% to 465.6p mid-morning on Tuesday, as shares in rival Royal Dutch Shell soared upward by 3.5% to 2188.1p.
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IFA M&A expected to climb – Investec W&I
M&A activity among small IFA firms is expected to increase over the next two years, according to a survey by Investec Wealth & Investment.
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CFA Institute paper calls for ‘purpose-driven culture’ in investment industry
A new research paper is calling on the investment industry to shift from a performance-driven culture to one that is purpose-driven, to ensure better alignment of its interests with those of clients.
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Top fund groups see first AUM fall since 2011
Assets managed by the world’s largest fund managers have declined across all major regions for the first time since 2011, suffering due to the challenging investment landscape and currency fluctuations.
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WPP shares climb on strong sales as FTSE treads water
Shares in FTSE 100 advertising company WPP climbed by over 4% to 1777p on Monday after it revealed strong third quarter sales despite the Brexit vote.
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RBS continues to flounder as restructuring and litigation costs bite
Royal Bank of Scotland has continued to flounder in what it described as the “current low interest rate and low growth environment,” returning £469m in attributable losses, compared with a £940m profit the year prior.
