Higher sales at Pru and Man Group tip FTSE over 4,100

Professional Adviser
clock

The FTSE 100 broke over the 4,100 mark by the end of business on Thursday after Prudential reported ...

The FTSE 100 broke over the 4,100 mark by the end of business on Thursday after Prudential reported higher than expected third quarter sales and Man Group, the hedge fund company, announced it has raised $670m for a new fund. The FTSE 100 jumped 113.00 points or 2.8% to 4170.70 thanks to higher demand for products at Pru's US and Asian divisions. Prudential rose 31p or 7.1% to 467p as sales, excluding mutual funds, rose 6%, and Man Group added 77p or 8.7% to 958p. DFS Furniture also advanced 37.5p or 10.2% to 406p as net income in the 12 months ending July 31 rose 7% to £35.7...

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 uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •