Aberdeen tops FTSE following sale report

Aberdeen tops FTSE following sale report

Aberdeen Asset Management is leading the FTSE 100 higher this morning following rumours the firm has sounded out potential buyers.

The asset manager has denied reports chief executive Martin Gilbert had approach rivals in recent months about selling the firm.

But shares in the company have risen nearly 4 per cent this morning as investors welcomed the rumours.

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Aberdeen’s share price has been hit hard this year by the slowdown in Asia and emerging markets more broadly - regions that comprise a significant portion of the firm’s assets under management.

From a high of 507.5p in April, Aberdeen’s share price plummeted to 293p at the end of September.

The stock has staged a comeback in the past month and, with the boost this morning, currently trades at 351.4p.

Aberdeen is the stand-out performer so far today in the blue-chip index. The FTSE 100 has opened 0.2 per cent down at 6,435, in spite of rising markets in Asia overnight.