Latest news with #MelroseIndustries
Yahoo
27-05-2025
- Business
- Yahoo
FTSE 100 surges as traders hopeful over US-EU trade negotiations
The UK's FTSE 100 has closed in on its highest level since March as the index continues to be buoyed by hopes of improving global trade relations. The blue chip index rose 60.08 points, or 0.69%, to close at 8,778.05, bringing it just shy of a nearly three-month peak that it reached during the day. Germany's Dax also soared by 1% as traders reacted to Donald Trump saying he was delaying a 50% tariff on EU imports to the US. On Monday, the US President told reporters that pushing back the date of introducing the new rate, from June 1 to July 9, was to allow time for 'serious negotiations' with the bloc. European Commission President Ursula von der Leyen wrote in a post on X that Europe was 'ready to advance talks swiftly and decisively'. Aerospace giants Melrose Industries and BAE Systems were among the biggest risers of the day, helping lift the FTSE 100 to its highest level since March, before Mr Trump's 'liberation day' announcements. The positive sentiment had spread to the US in early trading. On Wall Street, the S&P 500 was up about 1.7%, and Dow Jones was 1.5% higher by the time European markets closed. Chris Beauchamp, chief market analyst for IG, said: 'UK and US investors returned from their respective long weekends with a spring in their step thanks to the abrupt decision to pause higher tariffs on the EU. 'The half-life of each tariff increase continues to get shorter and shorter, and traders continue to fade the move. 'While the Dax pushes on to a new record high, the FTSE 100 finds itself around 100 points away from its own peak.' The Dax closed 0.83% higher, while France's Cac dipped 0.02% at close. The pound was weakening against the US dollar, falling 0.4%, at 1.3505. Sterling was edging up about 0.05% against the euro, at 1.192. The price of Brent crude oil was tumbling about 1.7% to 63.65 US dollars per barrel. In company news, shares in React Group plunged by a fifth after the cleaning services specialist said its annual results were likely to come in below expectations. The company said 'global economic pressures extending business decision cycles' meant it was taking a 'cautious' approach around new business wins over the second half of the year. Its share price closed 19.4% lower. Elsewhere, Inspired shares were given a boost after HGGC said it was in talks about making a possible offer to buy the energy and sustainability advisor. HGGC said its takeover bid was worth 81p per Inspired share, valuing the business at about £130 million. Inspired's share price closed 8.5% higher. The biggest risers on the FTSE 100 were Melrose Industries, up 25.1p to 476.5p, Intermediate Capital, up 62p to 2,020p, Ashtead, up 131p to 4,348p, Antofagasta, up 43.19p to 1,797p, and Intercontinental Hotels Group, up 206.83p to 8,738p. The biggest fallers on the FTSE 100 were Diageo, down 70.9p to 2,031p, Tesco, down 11.4p to 386.8p, BAE Systems, down 48.16p to 1,900p, Beazley, down 22.03p to 922.5p, and National Grid, down 23.41p to 1,085.5p. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
27-05-2025
- Business
- The Independent
FTSE 100 surges as traders hopeful over US-EU trade negotiations
The UK's FTSE 100 has closed in on its highest level since March as the index continues to be buoyed by hopes of improving global trade relations. The blue chip index rose 60.08 points, or 0.69%, to close at 8,778.05, bringing it just shy of a nearly three-month peak that it reached during the day. Germany's Dax also soared by 1% as traders reacted to Donald Trump saying he was delaying a 50% tariff on EU imports to the US. On Monday, the US President told reporters that pushing back the date of introducing the new rate, from June 1 to July 9, was to allow time for 'serious negotiations' with the bloc. European Commission President Ursula von der Leyen wrote in a post on X that Europe was 'ready to advance talks swiftly and decisively'. Aerospace giants Melrose Industries and BAE Systems were among the biggest risers of the day, helping lift the FTSE 100 to its highest level since March, before Mr Trump's 'liberation day' announcements. The positive sentiment had spread to the US in early trading. On Wall Street, the S&P 500 was up about 1.7%, and Dow Jones was 1.5% higher by the time European markets closed. Chris Beauchamp, chief market analyst for IG, said: 'UK and US investors returned from their respective long weekends with a spring in their step thanks to the abrupt decision to pause higher tariffs on the EU. 'The half-life of each tariff increase continues to get shorter and shorter, and traders continue to fade the move. 'While the Dax pushes on to a new record high, the FTSE 100 finds itself around 100 points away from its own peak.' The Dax closed 0.83% higher, while France's Cac dipped 0.02% at close. The pound was weakening against the US dollar, falling 0.4%, at 1.3505. Sterling was edging up about 0.05% against the euro, at 1.192. The price of Brent crude oil was tumbling about 1.7% to 63.65 US dollars per barrel. In company news, shares in React Group plunged by a fifth after the cleaning services specialist said its annual results were likely to come in below expectations. The company said 'global economic pressures extending business decision cycles' meant it was taking a 'cautious' approach around new business wins over the second half of the year. Its share price closed 19.4% lower. Elsewhere, Inspired shares were given a boost after HGGC said it was in talks about making a possible offer to buy the energy and sustainability advisor. HGGC said its takeover bid was worth 81p per Inspired share, valuing the business at about £130 million. Inspired's share price closed 8.5% higher. The biggest risers on the FTSE 100 were Melrose Industries, up 25.1p to 476.5p, Intermediate Capital, up 62p to 2,020p, Ashtead, up 131p to 4,348p, Antofagasta, up 43.19p to 1,797p, and Intercontinental Hotels Group, up 206.83p to 8,738p. The biggest fallers on the FTSE 100 were Diageo, down 70.9p to 2,031p, Tesco, down 11.4p to 386.8p, BAE Systems, down 48.16p to 1,900p, Beazley, down 22.03p to 922.5p, and National Grid, down 23.41p to 1,085.5p.
Reuters
27-05-2025
- Business
- Reuters
FTSE 100 climbs to 3-week high on EU tariff reprieve
May 27 (Reuters) - London stocks climbed on Tuesday in broad-based gains, in their first reaction to U.S. President Donald Trump's decision to postpone steep tariffs on the European Union. By 1009 GMT, the blue-chip FTSE 100 (.FTSE), opens new tab was up 0.9% to its highest level since May 5. The mid-cap FTSE 250 (.FTMC), opens new tab gained 1.2%. The market was closed on Monday for a bank holiday. The market dropped on Friday when Trump said he was recommending a 50% tariff on goods from the European Union, effective June 1. He backed away, opens new tab from the threat on Sunday and restored a July 9 deadline for trade negotiations. On the day, aerospace and defense stocks (.FTNMX502010), opens new tab led the gains after Trump threatened additional sanctions on Russia. Melrose Industries (MRON.L), opens new tab and BAE Systems (BAES.L), opens new tab both rose more than 3%, ranking among the FTSE 100's top performers. Specialty chemicals firm Elementis (ELM.L), opens new tab advanced 11.2% after agreeing to sell its talc business, opens new tab to IMI Fabi in a deal worth $121 million in enterprise value. Jupiter Fund Management (JUP.L), opens new tab jumped 9.5% after Peel Hunt upgraded the money manager's stock to 'add' from 'hold'. Luxury brand Burberry (BRBY.L), opens new tab gained 3% after Barclays upgraded the stock to 'equal-weight' from 'underweight'. Precious metal miners (.FTNMX551030), opens new tab were the only group to decline, falling 3.7% in tandem with gold prices. Investors are now focused on chip-giant Nvidia's results due Wednesday, alongside speeches from Federal Reserve policymakers and Friday's U.S. core PCE data, which could provide insights into the path of U.S. interest rates.
Yahoo
24-05-2025
- Business
- Yahoo
Positive Signs As Multiple Insiders Buy Melrose Industries Stock
Usually, when one insider buys stock, it might not be a monumental event. But when multiple insiders are buying like they did in the case of Melrose Industries PLC (LON:MRO), that sends out a positive message to the company's shareholders. Although we don't think shareholders should simply follow insider transactions, we would consider it foolish to ignore insider transactions altogether. Our free stock report includes 2 warning signs investors should be aware of before investing in Melrose Industries. Read for free now. Over the last year, we can see that the biggest insider sale was by the Senior Independent Director, David Lis, for UK£271k worth of shares, at about UK£5.66 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. It's of some comfort that this sale was conducted at a price well above the current share price, which is UK£4.51. So it may not tell us anything about how insiders feel about the current share price. David Lis was the only individual insider to sell shares in the last twelve months. Over the last year, we can see that insiders have bought 78.48k shares worth UK£365k. On the other hand they divested 47.95k shares, for UK£271k. In total, Melrose Industries insiders bought more than they sold over the last year. They paid about UK£4.65 on average. These transactions suggest that insiders have considered the current price attractive. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! View our latest analysis for Melrose Industries Melrose Industries is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. Over the last quarter, Melrose Industries insiders have spent a meaningful amount on shares. Not only was there no selling that we can see, but they collectively bought UK£124k worth of shares. This could be interpreted as suggesting a positive outlook. Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Melrose Industries insiders own about UK£8.9m worth of shares. That equates to 0.2% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders. It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Melrose Industries insiders are expecting a bright future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Melrose Industries. In terms of investment risks, we've identified 2 warning signs with Melrose Industries and understanding these should be part of your investment process. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
16-05-2025
- Automotive
- Daily Mail
Detroit buyer of Dowlais eyes secondary City listing after takeover
The US automotive supplier buying Dowlais Group is planning a secondary listing of its shares in London after the deal goes ahead. American Axle & Manufacturing agreed to acquire the car parts producer in a $1.4billion (£1.2billion) deal announced in January, just two years after Melrose Industries spun Dowlais out of its GKN Automotive division. American Axle said at the time it would seek to cancel the trading of Dowlais shares in London and list the enlarged firm on the New York Stock Exchange. However, the Michigan-based business now wants a secondary listing of its shares in the UK capital as part of the acquisition. It said this would 'ensure a greater range of both existing and prospective shareholders are able to access the future value creation opportunity of the combination'. American Axle's pursuit of Dowlais follows choppy electric vehicle demand and increasing competition from Chinese automakers, which benefit from generous public subsidies and large domestic demand. The enlarged group will benefit from greater scale and diversification, and create the financial strength to boost investment in new products and technologies. Following the deal, the merged group will have 50,000 staff members, with around 1,250 staff at risk of redundancy. Among the jobs threatened with the axe are duplicate head office, administrative and senior management positions, as well as research and development jobs in the US and Europe. Dowlais' London office in Victoria will also shut down, while its chief executive, Liam Butterworth, will stand down after gaining a £928,500 payment. In a statement on Friday, American Axle said both firms 'continue to believe that the strategic rationale for the combination remains compelling'. It added that the transaction 'will create a stronger business that is resilient across customers, geographies and products, resulting in the combined group being better positioned to navigate and succeed in an increasingly dynamic automotive industry and macroeconomic environment',. Dowlais Group shares were 0.8 per cent higher at 67.8p on Friday morning.
