Shares in Schroders have climbed over 1% in early trading on the FTSE 100 as UBS removed its ‘sell' rating and investors grow more optimistic over the asset manager's prospects.
The group's shares were up 1.5% to £21.18 this morning, taking the stock's gain for the week to 6.2%. If shares close at that level it would represent the best weekly performance since the first week of February 2012, when the stock rose 7.1%. The group - which boasts a range of popular funds including Richard Buxton's UK Alpha Plus fund - reported full-year results yesterday; profits fell 12% but analysts reacted positively to better-than-expected forecast changes against the backdrop of an improving environment for equities. Reacting to the numbers, UBS this morning upgraded the ...
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