Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1696
    +0.0002 (+0.02%)
     
  • GBP/USD

    1.2619
    -0.0003 (-0.02%)
     
  • Bitcoin GBP

    55,405.51
    -364.53 (-0.65%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

BUZZ-Hargreaves Lansdown: CFO departure rattles stock

** News HL's CFO to leave sends stock to bottom of FTSE 100 in heavy volume

** Co said Fri afternoon Tracey Taylor had decided to step down from role with immediate effect

** Taylor to remain with Hargreaves until end-June to ensure smooth transition; Simon Cleveland, partner in accountancy firm Deloitte, takes over as interim CFO from today

** Announcement struck strange chord with some analysts due to timing (late in Fri session), giving appearance of being hasty

** Jason Streets, analyst at Jefferies & Co, was reassured after speaking to HL, saying he suspected it was one of those things where "there is less to it than meets the eye"

ADVERTISEMENT

** Streets flagged up that his discussion with co revealed that Cleveland, the interim CFO, is well acquainted with HL

** Stock shed just 0.3 pct on Fri, but selling pressure increased on Mon when it dropped as much as 5.3 pct

** Busiest stock on FTSE 100 with 3/4 of daily avg volume already gone through (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)