Hargreaves slumps 6% on margin concerns

After a strong run, the platform's results for the six months to 31 December 2013 prompted a fall of more than 6% in its share price this morning to around £14.00. The drop has been pinned on figures which failed to meet consensus expectations, as well as the group's decision to reverse plans to increase charges for holding investment trusts. "The shares have been very strong performers this year so far, rising by c10% relative to the market, and this morning's results appear to have missed consensus slightly, owing to net interest margins on cash holdings falling from their equivalen...