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View the article online at http://citywire.co.uk/wealth-manager/article/a749372

Barclays and Aberdeen drag down FTSE

by Daniel Grote on May 06, 2014 at 10:43

‘I have not been surprised to see bid interest in AstraZeneca,’ he said. ‘The company is undergoing a very significant, value-enhancing transformation and it appears opportunistic for a potential bidder to make an approach now before the full value of this transformation is recognised by the market,’ he said.

Woodford is a longstanding investor in Astra, having bought into the pharmaceutical group around five years ago through his Invesco Perpetual Income and High Income funds, and remains a holder through the £3.7 billion mandate he recently won from financial sales force St James’s Place (SJP.L).

Pearson (PSON.L) was amongst the risers, adding 27p, or 2.5% to £11.21p, after the educational publisher announced it had been selected by a consortium of US states to run their Common Core exams.

Melrose Industries (MRON.L), the acquirer of manufacturing firms, jumped 7.2p, or 2.5%, to 292.8p following an upgrade from Numis after the price had tailed off in recent weeks.  

Balfour Beatty (BALF.L) was the biggest faller outside the FTSE 100. The FTSE 250 infrastructure group dropped 49.8p, or 17.4%, to 236p after issuing a profit warning and announcing the departure of chief exeuctive Andrew McNaughton.

Don’t miss our exclusive video interview with Neil Woodford later today.

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