The historic London bank Schroders is topping the FTSE-100 by a significant margin this morning after management announced they had agreed to sell the 222 year old business to US pension provider Nuveen. The deal values Schroders at just under £10 billion, representing a 29% premium on last night’s closing valuation. That’s been reflected in full this morning and the Schroders share price is up 29% as a result. The company also issued full year results but the market reaction is all about the sale.
Construction services group Morgan Sindall issued an upbeat trading outlook this morning, advising the market that after a successful 2025, management now expect 2026 to be ahead of expectations, too. Specifically it’s the company’s Fit Out division that is faring best, forward visibility is increased and profits here are expected to be significantly ahead of the mid-term target. The Morgan Sindall Share price was up 6% in early trade.
The emerging markets investment manager saw its share price spike earlier in the year after that US foray into Venezuela, with gains continuing to build over the following weeks. The company issued interim results this morning – admittedly covering the period before that military intervention – but reports AUM up 10%, net inflows of $2.3bn and a market performance contribution of $2.6bn. The outlook remains positive with enthusiasm for cycling out of overvalued holdings, USD weakness and deflationary pressures all set to contribute, too. The Ashmore share price was up as much as 5% shortly after the open, although was quick to give back most of the gains.
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Offer for Schroders plc - - Schroders (SDR)
