Man Group

Crispin Odey has snapped up a 5% stake in struggling fund house Man Group, prompting speculation the hedge fund manager will launch a full scale bid for the company.

Funds under management at Man Group grew by 14% in the third quarter, supported by the acquisition of FRM, although the firm saw increased net outflows of $2.2bn for the period.

GLG has unveiled RDR-ready unbundled share classes across its UK-domiciled range.

Man Group, the world's second-largest hedge fund, has hired former Pimco international bond chief Sudesh Mariappa as a senior portfolio manager, according to reports.

Man Group has joined forces with Japanese investment banking giant Nomura to launch a fixed income hedge fund aiming to deliver double-digit returns annually.

Apple shares led the fallers on the Nasdaq shortly after open following a disappointing second quarter trading update from the tech giant.

Man Group was the biggest winner in early trading in London, with its shares up 10.2% to 76.20p.

Hedge fund manager Man Group is to drop out of the FTSE 100 following the index's latest quarterly review after a fresh period of poor share price performance took its toll on the company.

Man Group looks set to drop out of the FTSE 100 at the next review in June, to be replaced by engineering group Babcock.

Reports that China is eyeing a fresh round of stimulus to boost growth in the country helped lift European stocks out of the doldrums Monday.