Abrdn PLC — MarketDX

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FTSE closes up 0.3% as energy stocks surge on oil prices

The London stock market closed higher on Wednesday, with the FTSE 100 index ending at 10,908.41 points, up 37.39 points or 0.34%, after hitting an intraday record high of 10,951.06 points. Gains were driven by energy stocks, which jumped 2.9% as oil prices rose nearly 7% amid renewed tensions in the Middle East. Investors also awaited interest rate decisions from the US Federal Reserve and the Bank of England, with markets expecting both to hold rates steady. Standard Chartered shares rose 2.8% after reporting better-than-expected first-half profit and raising its full-year revenue target. Glencore gained 2.8% after first-half copper production increased 15%. Rio Tinto advanced 1.6% after first-half underlying profit rose 43%. Greggs surged 18.5% to the top of the FTSE 250 after first-half profit grew 20%. Meanwhile, Aberdeen Group fell 4.5%, the biggest decliner in the FTSE 100, after reporting net outflows of 3 billion pounds in the first half.

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InfoQuest·28dRead more ▾

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Aberdeen Group H1 pretax profit rises 2% to £276 million

Aberdeen Group reported a 2% increase in first-half IFRS profit before tax to 276 million pounds from 271 million pounds a year earlier. Adjusted operating profit grew 21% to 151 million pounds, while net operating revenue rose 2% to 643 million pounds. Diluted earnings per share declined to 13.2 pence from 13.5 pence, though adjusted diluted EPS improved to 8.2 pence from 7.5 pence. The company reaffirmed confidence in delivering its fiscal 2026 targets of at least 300 million pounds in adjusted operating profit and approximately 300 million pounds in net capital generation, and beyond 2026 it targets medium-term net capital generation growth of 5% to 10% per annum absent major market irregularities. Shares were trading at 236.40 pence on the London Stock Exchange, down 4.91%.

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RTTNews·29dRead more ▾

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MFS Government Markets Income Trust changes adviser to abrdn, renamed Aberdeen Government Markets Income Fund

MFS Government Markets Income Trust has changed its investment adviser to abrdn Inc. and simultaneously renamed itself Aberdeen Government Markets Income Fund, effective after the close of NYSE trading on July 2, 2026. The fund’s ticker symbol MGF and CUSIP remain unchanged, and it continues to list on the NYSE. Five new trustees took office following shareholder election on June 18, 2026: Todd Reit as Chair, Nancy Yao, C. William Maher, Gordon Baird, and Christian Pittard. The fund’s investment objective and fundamental policies are unchanged under the new management agreement. Aberdeen’s Global Fixed Income team will manage the fund, with portfolio managers Bill Bellinzoni, Bill Hines, Anthony Merola, and Jonathan Mondillo jointly responsible for day-to-day management.

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Aberdeen Group Fair Value Edges Higher After Split Analyst Revisions

Aberdeen Group's fair value estimate has edged higher to 224 GBp per share, driven by revised revenue growth and margin assumptions. Bullish analysts have set price targets in the mid-200 GBp range, with Deutsche Bank lifting its target to 265 GBp and maintaining a Buy rating, while Citi has also moved to a Buy rating with a 265 GBp target, citing potential upside not fully reflected in the current share price. JPMorgan retains an Overweight stance with a target of 241 GBp. However, several banks, including Morgan Stanley, have trimmed their targets, signaling caution around execution and valuation. The fair value adjustment reflects an increase in the revenue growth assumption to 102.28% and a slight rise in the net profit margin assumption to 16.64%.

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Simply Wall St·57dRead more ▾

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MFS Government Markets Income Trust and MFS Intermediate Income Trust to change investment adviser to abrdn on July 2

MFS Investment Management announced that effective after market close on July 2, 2026, abrdn Inc., the US subsidiary of Aberdeen Investments, will replace MFS as the investment adviser of the MFS Government Markets Income Trust and the MFS Intermediate Income Trust. On the same date, five new trustees will be appointed to each fund's board and the current trustees will resign. Following the change, MFS Government Markets Income Trust is intended to be renamed Aberdeen Government Markets Income Fund, and MFS Intermediate Income Trust is intended to be renamed Aberdeen Intermediate Income Fund.

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Business Wire·69dRead more ▾