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Hedge fund group Man climbs on talk of MF Global stake sale

The Guardian – Hedge fund manager Man has moved to the top of the FTSE 100 risers, as traders heard talk it may dispose of its remaining stake in broker MF Global.

Man spun off the brokerage in July 2007 by means of a flotation in the US, but retained an 18.5% stake, worth around $130m. The suggestion it might now be looking to sell this has helped send Man shares 17.5p higher to 283.25p. In its latest annual report it classifies the residual MF shareholding as "available-for-sale financial assets."

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