Melrose confident going forward
16th Nov 2011 08:48
Engineering firm Melrose reported strong growth in the third quarter, with slowing business in Europe being offset by its international markets. Group sales in the third quarter were 12% higher than in the same period in 2010 and its order intake was 14% higher than last year. Consequently, the g
Read moreJust Car boss refuels
11th Oct 2011 16:12
Just Car Clinics chief executive Barry Whittles has topped up his stake in the car accident repair chain, spending £12,000 on shares. He took 90,115 at 13.46p and now has more than 2m, or about 15.72% of the company. Just Car Clinics announced last month that it is planning to cancel its listing o
Read moreFTSE 250 Movers: Domino lowered to 'hold'
28th Sep 2011 14:31
Domino's Pizza was heading south after stock broker Peel Hunt lowered its recommendation on the firm to "hold" from "buy" on valuation grounds, despite a strong trading update from the pizza deliverer. Melrose saw its share price rise after it walked away from a bidding race with Colfax for fello
Read moreLondon midday: Stocks stuck lower but Lloyds bucks trend
12th Sep 2011 12:03
The top share index is stuck firmly in negative territory as worries over the Eurozone crisis and possible effects on global growth continue. The UK has its own concerns though after the government-appointed Independent Commission on Banking has said British banks should separate their retail bank
Read moreLondon close: Another slide for FTSE 100
5th Sep 2011 16:48
Stocks were on the slide Monday, giving up many of last week's gains, with banks bearing the brunt of the selling. Bank shares fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody's
Read moreLondon midday: FTSE 100 slumps as RBS and Lloyds slide
5th Sep 2011 12:19
London's leading share index is firmly in negative territory, with banks and retailers coming in for some heavy selling. Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend t
Read moreLondon open: Banks take a hit in early trade
5th Sep 2011 08:38
The FTSE 100 opened up nearly 2% down with the banks falling heavily in early trading. The dive follows a tumble on Wall Street on Friday and Asia on Monday on the back of concerns over the global economy, as US payrolls were worse than expected. Meanwhile, Christine Largarde, the head of the Inte
Read moreLondon pre-open: More misery for London
5th Sep 2011 07:24
After taking a triple-digit tumble on Friday following worse-than-expected US jobless data for August, the top-share index is set to take another dive this morning, with City traders predicting the Footsie will open at around 5,200, down from Friday's close of 5,292. Mining giant Rio Tinto is to of
Read moreColfax in all-cash offer for Charter
5th Sep 2011 07:07
FTSE 250 engineer Charter International has named US manufacturing group Colfax Corporation as the mystery rival bidder which gatecrashed Melrose's offer on 23 August. Colfax - which supplies fluid-handling products including pumps, fluid handling systems and controls, and speciality valves - has n
Read moreSector movers: Engineers and auto firms in the red
2nd Sep 2011 14:26
Only one sector was making gains in the UK on Friday afternoon as markets across the globe suffered a broad sell-off on the back of a disappointing jobs report from the US. In London, the automobiles and parts sector was the worst performing sector, with sector giant GKN falling over 4%. Next in l
Read moreLondon close: Stocks close higher after choppy day
1st Sep 2011 16:39
The FTSE 100 finished in the blue having flitted between positive and negative territory for much of the day. Wealth manager Hargreaves Lansdown was the star performer after its results. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its dividen
Read moreFTSE 250 movers: Charter rises, Melroses falls after offer increase
1st Sep 2011 14:40
Charter International is in demand after engineering firm Melrose upped the price it is willing pay for its rival by 18p per share. Charter is valued at £1.43bn at this price. Melrose saw shares fall. International recruitment firm Hays jumped after reporting strong growth in profits last year, dr
Read moreLondon midday: FTSE 100 falls but RBS leads banking surge
1st Sep 2011 12:30
London's leading share index has drifted into the red following strong gains earlier in the week, but there are still some notable risers. Wealth manager Hargreaves Lansdown has raced ahead. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its div
Read moreLondon open: Miners drag Footsie lower
1st Sep 2011 08:30
The FTSE 100 began September trading on a dull note, falling lower in the opening minutes on Thursday, with the mining sector largely to blame. The mining sector dropped as copper, gold and silver prices declined. Fresnillo, Lonmin and Randgold Resources were among the worst performers. Sector pe
Read moreCharter opens books after Melrose ups indicative offer
1st Sep 2011 07:09
Melrose, the engineering firm, has upped the price it is willing to pay for rival Charter International by 18 pence per share, valuing the firm at around £1.43bn. Melrose says it is upping its current offer from 840p per share to 850p while also including a guarantee to pay an 8p dividend to Charte
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