Aberdeen among most shorted stocks in New Year trading session

Sainsbury's and Anglo American also in list

Daniel Flynn
clock • 2 min read

Aberdeen Asset Management was among the most shorted FTSE 100 stocks on Monday as the blue-chip index tumbled 2.2% in its first trading session of 2016.

Research by Markit showed the asset manager had a short interest of 7.3% on 4 January, topped only by retailer Sainsbury's and miner Anglo American, which had short interests of 17% and 8.4%, respectively. The asset manager's stock price fell 4% the following day, after Barclays downgraded it to ‘underweight' from ‘equalweight'. The bank also cut its price target on the stock to 250p from 350p due to outflows in Aberdeen's global equities and multi-asset divisions, with negative sentiment set to continue into 2016. In November last year, Aberdeen reported net business outflows of £...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read