Rolls-Royce sells Michell Bearings to British Engines for £12.6m
28th Apr 2015 09:57
Rolls-Royce said on Tuesday it will sell its Michell Bearings business to British Engines for £12.6m. The sale is expected to be completed in the autumn, and the money will be used for working capital requirements. Michell Bearings is a designer and manufacturer of hydrodynamic bearings based in Ne
Read moreLondon close: Tesco leads the decline as hawkish BoE spooks markets
22nd Apr 2015 17:08
A record loss from the UK's largest retailer and hawkish comments from the Bank of England combined to push stocks in London lower on Wednesday. The FTSE 100 finished the session down 0.49% at 7,028.24, pulling back after rising to a high of 7,092.34 early on. The index came close to its intraday hi
Read moreFTSE 100 movers: Rolls-Royce surges on new management, Tesco hit by worst losses in 97 years
22nd Apr 2015 13:27
Engine maker Rolls-Royce topped the risers after chief executive John Rishton announced plans to retire this summer. He will be succeeded by former ARM Holdings boss Warren East. UK timber and builders merchant Travis Perkins also gained after saying group sales were up 7.2% in the first quarter des
Read moreLondon midday: FTSE falls as Tesco erases gains and financial stocks weaken
22nd Apr 2015 12:11
Following a temporary foray into positive territory, UK stocks were firmly lower by Wednesday lunchtime as supermarket giant Tesco erased earlier gains after reporting an eye-watering £6.4bn annual loss. London's FTSE 100 was down 0.66% at 7,016.59 by midday, pulling back quickly after a brief stint
Read moreLondon open: Stocks slip after strong start, Tesco gains despite weak results
22nd Apr 2015 08:53
After a brief stint in positive territory, UK stock markets dropped on Wednesday morning as the FTSE 100 came close to a record high, despite a surprisingly positive reaction to Tesco's worse-than-expected annual results. The FTSE 100, which touched a high of 7,092.34 early on, had dropped 0.58% to
Read moreRolls-Royce unveils Warren East as new CEO
22nd Apr 2015 07:55
Aerospace and power systems group Rolls-Royce Holdings has named Warren East as its new chief executive officer. East, who has been a non-executive director at the FTSE 100 group since January 2014, will replace outgoing CEO John Rishton, who will step down from his current role on 2 July after 14 y
Read moreLondon close: Stocks drop 0.9% in volatile session amid Greek worries
17th Apr 2015 16:38
UK stocks dropped sharply on Friday with the FTSE 100 finishing below the 7,000 level for the first time in seven sessions, after a terminal blackout and changes in Chinese trading regulations. After a positive start, the Footsie ended 65.82 points lower (-0.93%) at 6,994.63, its lowest finish since
Read moreFTSE 100 movers: Rolls Royce among handful of risers as 95 stocks trade in the red
17th Apr 2015 13:32
Rolls Royce was one of a handful of stocks remaining in the green, buoyed by the announcement of its largest ever order win, which cemented its position as the favoured supplier of power plants for Airbus's signature A380 aircraft. The news marks the aircraft engine manufacturer's gain of over half
Read moreLondon midday: Bloomberg outage, Chinese regulations send stocks into the red
17th Apr 2015 12:02
After a solid start UK stocks sank into the red by Friday lunchtime, moving further away from recent records amid a blackout on Bloomberg computer terminals and new regulations in China on short-selling. Bloomberg's trading and information units are heavily relied upon by roughly 320,000 people arou
Read moreRolls Royce clinches largest ever client order
17th Apr 2015 11:18
Rolls Royce has announced its largest ever order win, cementing its position as the favoured supplier of power plants for Airbus's signature A380 aircraft. Middle Eastern carrier Emirates has ordered $9.2bn-worth of the company's Trent 900 engines. The aircraft engine manufacturer, which is also a
Read moreLondon midday: Banks lift Footsie 1% as stocks rebound
1st Apr 2015 11:19
UK stocks jumped nearly 1% on Wednesday morning, partly reversing steep losses experienced the previous session, as stimulus hopes in China and an improvement in global manufacturing repaired sentiment. London's FTSE 100 was up 0.98% at 6,839.14 by midday, after dropping 1.7% to 6,773.04 on Tuesday,
Read moreBroker tips: Mining stocks, Lloyds, Rolls-Royce, Asos
1st Apr 2015 11:17
JPMorgan Cazenove has reduced target prices across the UK mining sector after lowering its commodity forecasts, predicting further demand weakness, especially from China, in the second quarter. The broker has lowered its 2015/2016 forecasts for copper prices by 3%/6%, aluminium by 5%/9%, zinc by 4%/
Read moreRolls-Royce rating gets the chop over at Bernstein
1st Apr 2015 11:03
Aerospace and defence giant Rolls-Royce has been cut to 'underperform' from 'market perform' at Bernstein who cited "emerging challenges" in two of the company's divisions. "We believe the emerging challenges in 'Civil Aerospace' and Land & Sea (divisions) will not support the current valuation. The
Read moreLondon close: FTSE snaps four-day losing streak on China hopes and upbeat data
30th Mar 2015 16:45
London's Footsie managed to hold on to gains by the close on Monday, snapping a four-day losing streak, as hopes for stimulus in China and strong economic data gave sentiment a boost. The FTSE 100 finished up 0.53% at 6,891.43, though it remains well below its record closing high of 7,037.67 reached
Read moreRolls-Royce buys ROV Technologies to expand nuclear reactor services
30th Mar 2015 15:39
Engineering group Rolls-Royce has beefed up its reactor inspection operations through the purchase of US nuclear utility operator ROV Technologies. Vermont-based ROV, which specialises in remote visual inspection services for boiling water reactors and pressurised water reactors, was acquired for an
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