Industrial orders drive sales at Smiths Group
8th Jun 2011 07:15
Revenue growth in Smiths Group's John Crane division helped underlying sales in the first ten months push ahead of the prior year, offsetting weaker sales from Smiths Detection. Meanwhile, underlying group headline operating profit in the ten months to 28 May improved, benefiting from ongoing opera
Read moreSmiths Group shares drop on order delays
3rd May 2011 16:49
Medical devices and airport scanners maker Smiths Group took a tumble late on Tuesday after it announced that trading at Smiths Detection has fallen short of expectations. Shares dropped nearly 6% in the afternoon session following the announcement which also revealed that the divisional president
Read moreLondon close: Sluggish day for FTSE 100
3rd May 2011 16:46
Shares started well after the extended weekend, but the buoyancy soon gave way to sluggishness and the top share index closed just a few points higher. Hedge fund manager Man Group was a strong performer after it announced the launch of an AHL open-ended fund in Japan, Nomura Global Trend, which ha
Read moreLondon close: Miners push Footsie higher
23rd Mar 2011 17:19
Footsie ended the day close to its high point though that was largely due to the strength of mining stocks rather than a rapturous reception to the UK Budget. What did get a rapturous reception, at least for a while, was the news that the voting by the Monetary Policy Committee in March on interest
Read moreLondon afternoon: Housebuilders get Budget boost
23rd Mar 2011 15:00
It would appear that the UK Budget was far from a blockbuster as the market has reacted phlegmatically to the Chancellor's big day. The headline grabbing move was the commitment to effectively abolish National Insurance and push up income tax to compensate, but this will not take effect for some t
Read moreLondon midday: Back to square one
23rd Mar 2011 12:24
Footsie ended the morning more or less where it started it, as investors sit tight ahead of the Budget speech at 12:30pm. Resource stocks are in demand, with ENRC sitting atop a buoyant mining sector and Cairn leading oils higher. Underlying profits more than doubled last year at Kazakhstan-based
Read moreLondon open: Market unsettled as Sainbury's disappoints
23rd Mar 2011 09:00
Budget days are normally quiet, but supermarket giant J Sainsbury's slightly disappointing trading update has unsettled the mood. Caution ahead of today's speech by the Chancellor will also be keeping some on the sidelines. Supermarket giant Sainsbury's grew like for like sales by slightly less th
Read moreSmiths Group profits leap
23rd Mar 2011 07:40
Medical devices and airport scanners maker Smiths Group has reported a healthy increase in half-year profits, up around a quarter. The company grew profit before tax for the six months to 29 January to £188.6m from £148.2m a year ago, and headline profit, which excludes lots of one-off items, by 25
Read moreSunday newspaper round-up: Inflation, Barclays, BHP Billiton...
13th Feb 2011 11:14
Inflation is set to soar to 4% this week, increasing the chances of an early hike in interest rates and forcing the Bank of England to admit it has again underestimated the extent of rising prices. Economists expect the January inflation figures, unveiled on Tuesday, to show the Vat increase and ro
Read moreNon-exec buys after Smiths rejects approach for division
20th Jan 2011 16:42
Bruno Angelici, a non-executive director of Smiths Group, has bought his first shares in the company less than a week after it was revealed that the technology supplier had rejected an approach for its medical division. Angelici paid 1392p a share for the 2,000 shares he acquired - a total outlay
Read moreTuesday tips round-up: Smiths, Alterian, BP...
18th Jan 2011 06:40
Philip Bowman's decision to turn down a £2.4 bn cash offer for the medical division of Smiths Group, where he is chief executive, is understandable for any number of reasons. The sale of medical services, which enjoys margins in excess of 20% and provides Smiths with about a third of its earnings,
Read moreSector movers: Smiths give industrials a lift
17th Jan 2011 15:57
The general industrials sector was given a boost on Monday by Smiths Group. Shares in Smiths Group were soaring Monday after the maker of medical devices and airport scanners said after the close of trading on Friday that it had rejected a £2.45bn approach for its biggest division Smiths Medical.
Read moreLondon afternoon: Footsie dips
17th Jan 2011 14:40
Leading shares lost ground over the lunchtime session, taking the Footsie back below the 6,000 level, with financials and miners featuring prominently among the losers. Miners such as Kazakhmys and Fresnillo are out of favour amid lower metals prices after China increased reserve requirements for b
Read moreFTSE 100 movers: Smiths rejects medical bid
17th Jan 2011 13:21
Smiths Group is the best performer today following the revelation that it turned down a £2.45bn bid for its medical division from private equity firm Apax. Credit Suisse had previously estimated the medical division was worth £2.1bn. Even so, Smiths did not want to pursue talks at the indicative b
Read moreSmiths Group shares soar after bid rejection
17th Jan 2011 13:12
Shares in Smiths Group were soaring Monday after the maker of medical devices and airport scanners said after the close of trading on Friday that it had rejected a £2.45bn approach for its biggest division Smiths Medical. It said it had carefully considered the approach, which came from the private
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