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 Avivia 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 help...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
