Schroders is trading at 2722p, up 5% after the company revealed an annual pre-tax profit of £448 million, up 24% on-the-year. Assets under management rose from £212 billion to £263 billion; this inflow of cash implies that the appetite for investing has increased over the past 12 months.
Schroders has been on the acquisition trail lately, making two purchases in the past eight months. This suggests the company is confident of future earnings.
The share price came under pressure at the end of January when the emerging markets worries took centre stage, but the stock recovered quickly and it is now up 240% over the past five years.
The situation in Ukraine prompted some profit-taking and the 200-hour moving average of 2568p has been providing support. Now that the gap from Friday has been filled we could move higher.