Shares in Schroders and Aviva jumped sharply today after strong full-year results from both firms, helping to keep the FTSE 100 ahead.
Schroders is currently 3.4% up - having risen by almost 6% initially - after it reported double-digit gains in profits across the board. The numbers from the group's wealth management were particularly impressive, with profits tripling from £11.8m to £34.3m in 2013, buoyed by the takeover of Cazenove Capital last summer. Brokers rushed to upgrade estimates following the release of the results, but even Schroders was topped by Aviva which has seen its shares soar 9.2% this morning. The insurer cheered analysts after profits of £2.2bn beat consensus forecasts. The two stocks helpe...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
