Fund managers and housing stocks plunge in wake of Standard Life property fund suspension
Investors won’t be able to buy or sell units in the fund until further notice. The managers are looking to raise cash by selling off some of the portfolio.
Company
LON:PRU
Prudential PLC is a provider of life insurance, investment and savings products. In October 2019 it spun off its UK-focused arm M&G PLC, leaving Prudential as an Asia-led group. Prudential PLC has 20 million customers and is listed on stock exchanges in London, Hong Kong, Singapore and New York. Prudential PLC is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
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Investors won’t be able to buy or sell units in the fund until further notice. The managers are looking to raise cash by selling off some of the portfolio.
Investments and investor services
The FTSE 100 didn't get off to a great start this morning.
London’s FTSE 100 index on Wednesday closed above “Brexit” crisis levels for the first time since the morning of the In-Out European Union referendum polling last Thursday
As the status quo is unlikely to change in the immediate term, some Brexit worries have been set aside - even if it's just for now.
Major share price risers and fallers in London at 12.30pm
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Broadcaster ITV was downgraded, as was airline group IAG
Investments and investor services
That's it from us for a very volatile Friday, more Brexit reaction to follow on Monday.
Having held its own for most of the week, the top shares index finished down on the week, laid low by fears over a UK exit from the European Union
Investments and investor services
All but two of the top-share index's constituents were in the red
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UBS has picked up on telecoms giant BT and upgraded the shares to 'neutral' from 'sell' saying the risk from mobile is lessening.
Investments and investor services
G4S Plc, Restaurant Group, Firestone Diamonds, Gem Diamonds and Genel Energy, Cairn Energy, Pridential, and Whitbread are all in Thursday’s broker spotlight.
Retail investors pulling money out of investment arm M&G was the only blip in an otherwise strong year
Here are some significant movers at around 2.00pm midweek....
FTSE100 is tipped to go higher after global losses in markets yesterday on China growth fears.
Shareholders will doubtless be interested in how StatPro's acquisitions are bedding down.
The top-share index had a brief look above 6,000 before heading south
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Britain's blue chip benchmark tumbled 2.4% on the day to close 135 points lower as global markets continue to sink amid investor panic.
London’s blue chip index dropped 101 points to 5,570 even with a modest rally ahead of the US opening.
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Also Whitbread, BT, Standard Life, McCarthy & Stone and Booker
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Update - additional companies covered: Gemfields, Stratex International