Melrose hails McKechnie windfall
26th Jun 2012 12:01
Melrose said it had sold its injection moulding business, McKechnie Engineered Plastics, earning over three times what it paid for it. The engineering company sold McKechnie to global plastics group Rosti A/S for £30.7m in cash. The acquisition of McKechnie, along with the Dynacast businesses, in
Read moreLondon close: Stocks higher despite soaring Spanish yields
18th Jun 2012 16:42
-Stocks swing between gains and losses on euro crisis -New Democracy wins majority in Greek elections -Spanish yields set euro-era high...again The Footsie ended the day only slightly higher as soaring bond yields in Spain and uncertainty over the situation in Greece weighed on sentiment. There wa
Read moreFTSE 250 movers: CWW leaps on Vodafone takeover support
18th Jun 2012 15:29
Orbis, which owns around a fifth of Cable & Wireless Worldwide stock, said it would not try to block a takeover bid for the firm by Vodafone, boosting shares early on. Despite initially saying the offer of 38p a share was too low, Orbis said it now believed the deal was inevitable. ?? Engineering
Read moreLondon midday: Stocks edge higher despite euro uncertainty
18th Jun 2012 11:49
- Markets digest Greek elections - Spanish bond yields above seven per cent - Barroso expects coalition to be formed 'swiftly' An underwhelming outcome to the Greek elections and surging bond yields in Spain saw the Footsie swing between gains and losses on Monday morning; by lunchtime, the blue ch
Read moreLondon open: Stocks underwhelmed by Greek elections
18th Jun 2012 08:43
- Early gains erased as investors digest Greek elections - New Democracy wins slim majority - Miners, financials provide a drag on the Footsie After a strong rise on the back of the weekend's crucial elections in Greece, stocks pared early gains as uncertainty still remains over the country's futur
Read moreLondon pre-open: FTSE to jump on Greek election result
18th Jun 2012 07:26
City sources predict the FTSE 100 will open up 80 points from Friday's close of 5,479 after pro-bailout parties won the Greek elections over the weekend, giving a strong indication that the country will remain within the Eurozone, at least for now. Several analysts, however, are warning that they e
Read moreMelrose chasing German meter firm
18th Jun 2012 07:04
Engineering buy-out firm Melrose has confirmed speculation that it is in discussions to buy German group Elster. Reports said the deal could be worth over $2bn, but the firm is so far keeping the terms of any deal to itself. However, Melrose did say that any transaction would be funded through a c
Read moreTuesday broker round-up
15th May 2012 09:10
Babcock: Investec reiterates buy, puts target under review; Jefferies raises target from 780p to 910p, buy rating kept. BT Group: Espirito Santo upgrades from sell to neutral, lifts target from 180p to 210p. Chariot Oil & Gas: UBS slashes target from 340p to 215p, buy rating unchanged. Drax: Inv
Read moreMelrose records 'pleasing' start to year
9th May 2012 09:49
Engineering buy-out firm Melrose said revenues were up nine per cent in the first four months of the year. It added that the total value of orders received in the period was 3% higher than revenue and trading was in line with forecasts. "Whilst the first quarter is historically the slowest quarter
Read moreMelrose directors cash in
12th Apr 2012 12:11
Top dogs at acquisitive engineering firm Melrose have dumped millions of shares on the market received as a result of the company's executive incentive plan. Executive Chairman Chris Miller, Chief Executive David Roper, and Chief Operating Officer Simon Peckham were all awarded about £30m-worth of
Read moreThursday broker round-up - UPDATE
8th Mar 2012 09:31
Admiral: Nomura raises target from 1,100p to 1,300p, buy rating kept; Collins Stewart ups target from 975p to 1,110p, hold rating kept; Credit Suisse reiterates outperform rating and 1,300p. Afren: UBS raises target from 140p to 150p, buy rating maintained. Amlin: Jefferies raises target from 317p
Read moreThursday tips round up: Melrose and Chime
8th Mar 2012 06:54
Tempus in the Times is uncharacteristically effusive over engineering investor Melrose. To be fair, the company consistently beats expectations by buying under-performing companies, making them ship-shape and flogging them. With revenues up 11% over 2010 and pre-tax profits flying 32% ahead, you c
Read moreMelrose profit rises as acquisition trail continues
7th Mar 2012 07:16
Engineering firm Melrose reported stronger full year profit after a robust performance at its main energy and lifting divisions. The FTSE 250 engineering buyout firm also said it continues to look for its next acquisition. Melrose lost out to rival firm Colfax Corporation in an attempted bid for Ch
Read moreThursday broker round-up - UPDATE
17th Nov 2011 09:45
Intertek: Credit Suisse reiterates outperform rating and 2,250p target - "Focus List stock". Imperial Tobacco: Nomura downgrades from buy to reduce, target cut from 2,400p to 2,150p. British American Tobacco: Nomura raises target from 3,020p to 3,320p, buy rating maintained. Experian: Credit Suis
Read moreWednesday broker round-up - UPDATE
16th Nov 2011 09:44
Michael Page: HSBC upgrades to overweight from neutral. Reckitt Banckiser: Citi reiterates buy. Cairn Energy: Societe Generale initiates at buy. Royal Bank of Scotland: AlphaValue downgraded to add from buy yesterday and lowered the price target to £24.60from £29.80. ARM Holdings: UBS raises t
Read more