A trading update from Schroders this morning saw the bank revising the full year operating profit outlook, adding that it they now expect this print to come in ahead of market forecasts. The number is set to be around 25% higher than the comparative, with expenses flat and management fees benefitting in the fourth quarter. Full year results will be published in mid-February and the Schroders share price was up more than 8% in early trade.
Big losses for the home furnishings group this morning after a Q2 and H1 update showed the company losing momentum. Whilst there is some benefit being seen from currency tailwinds, management cautioned that slower growth in the second quarter means that the expectation of profits being weighted into the second half of the year needs to be dialled back. Full year PBT is now expected to come in at the lower end of consensus expectations and investors have been quick to respond. The Dunelm share price was down 17% shortly after the open.
Emerging markets asset manager Ashmore published a trading update this morning noting an 8% increase in AUM with rising investor interest in the genre being highlighted as risk/return priorities change. Emerging markets continue to outperform with superior economic growth being flagged, helped by falling interest rates for many. The Ashmore share price was up 12% by 8.45am.
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Trading Statement - - Taylor Wimpey (TW.)
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Liquid gas acquisitions in four new markets - - DCC (CDI) (DCC)
