Hargreaves slumps 6% on margin concerns

clock

Hargreaves Lansdown shares have fallen sharply this morning after the group announced its interim results and a reversal of some of its new pricing plans.

After a strong run, the platform's results for the six months to 31 December 2013 prompted a fall of more than 6% in its share price this morning to around £14.00. The drop has been pinned on figures which failed to meet consensus expectations, as well as the group's decision to reverse plans to increase charges for holding investment trusts. "The shares have been very strong performers this year so far, rising by c10% relative to the market, and this morning's results appear to have missed consensus slightly, owing to net interest margins on cash holdings falling from their equivalen...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why the lead-up to the Budget may have been worse than the Budget itself

Why the lead-up to the Budget may have been worse than the Budget itself

What Rachel Reeves and Dr Evil have in common

Laith Khalaf
clock 13 November 2024 • 4 min read
Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read