FTSE slips after recent gains, but Aberdeen Asset climbs despite buyout denial

Discussion in 'Market News' started by Lily, Oct 26, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Company says Aberdeen founder has not approached potential buyers

    With leading shares edging lower, an exception is Aberdeen Asset Management.

    The fund management group is up 15.1p at 366.5p after a report that the company’s chief executive Martin Gilbert was courting possible buyers, to help halt asset outflows and prevent key staff from leaving.

    While the shares were already rebounding with the wider market on easy money/stimulus hopes in October, getting back to 330-350p, the speculation has seen the shares break out and gap up to levels last seen in late July. A denial is not yet... putting pressure on the shares just yet. Short sellers have likely been squeezed out on the recent 20% rebound and don’t fancy another go, recent bottom pickers are holding on hoping their proves to be substance in the speculation while momentum traders are jumping on board in the hope of a quick return to 400p. Will further denial scupper takeover hopes or simply lead to claims of the ‘laddie doth protest too much’.

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