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STOCKS NEWS EUROPE-Schroders up on broker upgrade

Wed Jul 1, 2009 3:18am EDT

Stocks

   

Shares in Schroders (SDR.L) rise 2.6 percent after Credit Suisse upgrades the British fund manager to "neutral" versus "underperform.

"We forecast positive inflows at Schroders for Q2 including outflows of 1 billion pounds ($1.66 billion) in its institutional business and net inflows of 1.5-2 billion in its retail intermediary business. We are upgrading our rating given the significant recent share price underperformance versus peer group," Credit Suisse says in a note.

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($1=.6029 Pound)


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