Aberdeen Asset Management was among the most shorted FTSE 100 stocks on Monday as the blue-chip index tumbled 2.2% in its first trading session of 2016.
Research by Markit showed the asset manager had a short interest of 7.3% on 4 January, topped only by retailer Sainsbury's and miner Anglo American, which had short interests of 17% and 8.4%, respectively. The asset manager's stock price fell 4% the following day, after Barclays downgraded it to ‘underweight' from ‘equalweight'. The bank also cut its price target on the stock to 250p from 350p due to outflows in Aberdeen's global equities and multi-asset divisions, with negative sentiment set to continue into 2016. In November last year, Aberdeen reported net business outflows of £...
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