BlackRock reports revenue drop despite net flows of $70bn
BlackRock has reported net flows of $70bn during its third quarter but this was not enough to prevent a 3% fall in revenue to $2.837bn compared with last year’s third quarter.
Companies
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Burberry shares tumble despite boost from sterling slide
At their lowest point during trading Tuesday morning, Burberry shares were down 8.9% at 1376p even though its interim revenues benefited from the post-Brexit drop in the pound.
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Pearson shares nosedive on poor sales performance
Pearson shares plummeted by 10.2% to 748p Monday morning after the publisher reported a decline in comparable sales over the last nine months.
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Leeds wealth manager buys London advice firm
Leeds-based wealth manager The Private Office (TPO) has acquired PQR Financial Planning, a firm of financial planners based in London in a move that bucks the trend for large restricted advice firms to swallow smaller, independent players.
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Man Group shares ride momentum of real asset launch
Man Group’s acquisition of Aalto Invest Holding and subsequent launch of a private markets business inspired a 13.7% rise in the company’s shares to 123.6p on Friday morning.
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Unilever shares plunge as it clashes with Tesco
Unilever shares slid this morning as it announced third quarter results and news of a fall-out with one of its biggest customers spread.
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Jupiter reports net flows of £789m
Jupiter Fund Management has reported net inflows of £789m for the three months to 30 September 2016, bringing total assets under management to £40.4bn.
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Hargreaves revenues up, but inflows drop
Shares in Hargreaves Lansdown fell 2% this morning on the back of mixed results for Q3 – revenue was up 15% to £90.6m, but inflows dropped 22% compared to Q1.
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Brown Shipley buys Manchester wealth manager
Brown Shipley has struck a deal to acquire The Roberts Partnership.
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Investors scorn Samsung over suspended Note 7 sales
Shares in the South Korean electronics company fell considerably (7.5%) after the company suspended production of its Galaxy Note 7 smartphone due to persistent safety problems.
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River & Mercantile profits slide despite AUM rise
River & Mercantile reported profits down 28% to £5.9m for the year to 30 June this morning.
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Old Mutual Wealth cash flows slump
Old Mutual Wealth chief executive Paul Feeney blamed “challenging markets” as the firm saw net client cash flows slump to £0.9bn in the third quarter, down from £2.3bn a year earlier.
