Sector movers: Property and beverages shares keep London market in green territory
14th May 2015 15:12
Property, housebuilders and beverages shares kept the London market broadly in green territory on Thursday, as worries in Greece continued to lurk in the background. At 16:24 BST, the FTSE 100 was trading at 6,964.17 up 0.21% or 14.54 property and housebuilding continuing to trade higher off the bac
Read moreMelrose on track to hit annual targets despite weak generator demand
14th May 2015 11:46
Industrial engineering company Melrose Industries upheld its positive outlook on Thursday, as its gas, electricity and water metering trade offset weak demand in its electricity generation arm. The company's Elster Gas division's, operating profit and order intake continued to improve in 2015, unfaz
Read moreMelrose to slice off Elster Water
6th Apr 2015 14:46
FTSE 250 investment company Melrose Industries is reportedly planning to dispose of the water division of smart meter business, Elster. According to sources cited by the Sunday Times, Melrose has appointed Barclays to begin the sale process, with the auction set to start in the next few months. The
Read moreFTSE 250 movers: Greggs higher on shareholder returns
4th Mar 2015 15:14
Greggs topped the risers after the baker grew its pre-tax profit last year by 50%, allowing it to return up to £10m to shareholders in the first half of 2015 by resuming its share buyback programme. The company's chief executive, Roger Whiteside, noted that 2014 was a year of significant change and
Read moreMelrose Industries raises dividend as it reports rise annual in pre-tax profits
4th Mar 2015 09:41
Melrose Industries raised its dividend despite currency headwinds eating away at full-year pre-tax profit. The investment company proposed a dividend of 5.3p per share, taking the full-year payout to 8.1p, a 5% cent increase on 2013. The group reported a 21% increase in annual pre-tax profit to £21
Read moreMelrose Industries proposes £200m cash return to shareholders
3rd Feb 2015 07:58
Manufacturing group Melrose Industries has proposed a £200m capital return and a share consolidation. After receiving £365m proceeds from the sale of its Bridon business, the FTSE 250 group said it intended to return 18.7p per share to shareholders, with the remainder used to pare down debt. "Reali
Read moreMelrose completes acquisition of US firm Eclipse
3rd Nov 2014 08:41
Melrose Industries' Elster Gas business has completed the acquisition of US-based Eclipse after receiving anti-trust clearance. It paid a total of $158m for the firm, which manufactures gas combustion components and systems for industrial heating and drying applications. In the year ended 31 March,
Read moreLondon close: Mining stocks help lift FTSE to positive finish
13th Oct 2014 17:00
Coming off the morning's declines, London-listed stocks ended Monday's session on a relatively upbeat note, thanks to a strong performance by the mining sector on what was a generally quiet day for markets. The FTSE 100 finished near its best levels of the session, closing 26.27 points higher at 6,3
Read moreLondon midday: Stocks erase losses on mining strength, Synergy soars
13th Oct 2014 11:35
After a weak start, UK stocks had erased losses by Monday lunchtime, helped by decent gains in the heavyweight mining sector and a takeover offer for Synergy Health. London's FTSE 100 was trading 0.3% higher at 6,358 by around midday, bouncing off a low of 6,302 reached in early deals. UK equities
Read moreMonday broker round-up UPDATE
13th Oct 2014 09:32
Amino Technologies: Northland Capital upgrades to buy with a target price of 100p. Anglo American: Canaccord Genuity initiates with a target price of 1720p and a buy recommendation. Credit Suisse upgrades to outperform with a target price of 1800p. Associated British Foods: Societe Generale upgrade
Read moreLondon pre-open: Steep losses expected on FTSE ahead of quiet session
13th Oct 2014 07:43
London's blue chips are set to start the week on the back foot, tracking a poor performance in Asia overnight as investors grow increasingly concerned about global growth. Ahead of what is expected to be quiet day for UK markets, City sources predict the FTSE 100 will open around 65 points lower tha
Read moreMelrose to sell off Bridon unit for £365m
13th Oct 2014 07:16
Manufacturing conglomerate Melrose is to offload its industrial cable, ties and wire making division Bridon to a Canadian pension fund for £365m and said it would use the proceeds to pay down debt and finance a capital return. Bridon, acquired by Melrose through the takeover of engineering group FKI
Read moreFTSE 250 movers: RPC jumps after upping revenue forecast
30th Sep 2014 15:14
Shares in RPC Group got a lift after it revealed its half-year revenues are expected to be "significantly" ahead of the same period last year thanks to recent acquisitions and growth in the US, coffee capsules and UK DIY markets. It said its operating profit before exceptionals is set to be in line
Read moreTuesday broker round-up UPDATE
30th Sep 2014 09:50
Aberdeen: Goldman Sachs ups target price from 540p to 560pp retaining a buy recommendation. African Barrick Gold: Deutsche Bank moves target price from 270p to 280p and reiterates a hold recommendation. Investec lowers target price from 260p to 258p, while upgrading to buy. African Minerals: Invest
Read moreMelrose to acquire US components maker Eclipse
30th Sep 2014 08:01
Melrose Industries has agreed to pay $158m to acquire US firm Eclipse, which makes gas combustion components and systems for industrial heating and drying applications. The debt and cash free purchase will be funded from the FTSE 100 company's existing debt facilities. Melrose said the company's sk
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