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St James's Place rebound steals the limelight
Evening Standard
|July 30, 2024
SHARES in wealth manager St James’s Place today rebounded by 21% as the former blue-chip company stole the limelight in a packed results session.
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The group, which fell out of the FTSE 100 in May amid its switch to a new charging structure, surged 118.9p to 677.6p after net inflows of £1.9 billion easily beat hopes.
It also boosted confidence with an ambition to double underlying profits by 2030.
City bank Peel Hunt, which has a 750p price target, said: “These results suggest the business is more resilient than the share price suggests.”
SJP’s recovery helped to drive the out performance of the FTSE 250 index, which rallied by 0.9% or 192.61 points to 21,444.68.
Esta historia es de la edición July 30, 2024 de Evening Standard.
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