4:00 PM Frankfurt – Ashmore Group and Man Group said net assets under management jumped on strong asset inflows. ArcelorMittal agreed to sell its four European steel plants to meet the regulatory requirements.
In London trading, FTSE 100 index declined 102.68 or 1.4% to 7,043.06 and in Frankfurt the DAX index dropped 56.05 or 0.5% to 11,656.45.
In Paris, CAC 40 index slipped 47.26 or 0.9% to 5,160.02.
Ashmore Group Plc
rose 0.8% to 347.80 pence after the U.K.-based asset manager estimated assets under management in the first-quarter ending in September jumped 3% to $76.4 billion from $73.9 billion in the previous quarter.
The emerging markets asset manager said asset growth was driven by the net inflows of $1.9 billion despite ""volatile"" market conditions.
""Net inflows continued through the quarter as clients responded positively to the opportunities created by price volatility across a broad range of Emerging Markets asset classes,"" said chief executive officer Mark Coombs.
jumped 1.3% to €24.51 after Luxembourg-based steel producer agreed to sell its four European steel plants located in the Czech Republic, Romania, Macedonia and Italy to Liberty House Group.
The steel maker said the deal was part of an agreement with the European Commission related to acquisition of Italian steelmaker Ilva S.p.A.
Man Group Plc
slumped 2.5% to 141.80 pence after the U.K.-based investment management company said funds under management in the third-quarter ending in September edged up 0.4% to $114.1 billion from $113.7 billion in the previous quarter.
Man Group said net inflows in the quarter were $400 million, excluding the previously announced $2.2 billion infrastructure mandate redemption. However, net inflows in the second-quarter totaled $3.5 billion.
""We saw continuing inflows into our alternative risk premia strategies and strong flows into our systematic equity strategies,"" said chief executive officer Luke Ellis.
Sports Direct International Plc
gained 1.5% to 314.50 pence after the U.K.-based sports-goods retailer today agreed to buy the property of the Frasers department store in Glasgow City for £95 million or $125.7 million.
Transaction is expected to close in January 2020.