Upgrade boosts Schroders but FTSE quiet

Scott Sinclair
clock

A ratings upgrade from Citigroup helped Schroders to a healthy gain early on Thursday, but the FTSE remains largely unmoved following yesterday's impressive gains.

At shortly after 8.30am, the index was up 3.68 points, or 0.08%, at just over 4,350. London's blue chip share index had raced 2.6% ahead yesterday - to close past 4,300 for the first time in weeks - as stocks benefited from upbeat corporate news and recovery hopes on both sides of the Atlantic. Voting shares in investment manager Schroders added 36p, or 4.32%, to 870p, while non-voting shares were up 26.5p, or 3.72%, to 739p. But oil and gas plant firm Petrofac leads the early winners, rising 38.5p, or 5.55%, to 732.5p. Elsewhere, software firm Autonomy Corporation is down 91p t...

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

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read