Wealth manager shares jump after positive updates

Wealth managers and asset managers have led the pack in early morning trading after a number of companies delivered positive updates to the market.

F&C Asset Management, Brewin Dolphin and St James's Place (SJP) all reported quarterly and half-yearly updates this morning, which have been well received by the market. As at 10.50am all three companies had posted gains in excess of 4%, beating the broader market which was up 0.58% or 38 points to 6,608. F&C shares rose 4.3% to 98.58p after the group reported pre-tax profits of £37.3m for the half year ending 30 June 2013, an increase from £22.1m for the same period last year. Brewin Dolphin also reported upbeat results, posting core fee and commission income of £63.8m, 27% higher...