How markets are moving: The FTSE 100 index was down 0.2% to 7,744.63, with consumer services leading most sectors lower. But the utility, basic materials and financial groups were higher. On Tuesday, the London benchmark fell 0.2%, moving further away …
The blue chip FTSE 100 index was down 0.25 percent at 7,736.82 points by 0815 GMT, broadly in line with the broader European market. Within small market capitalisations, Interserve saw its shares fall about 10 percent at the open then gradually recoup …
How markets are moving: The FTSE 100 index UKX, -0.24% was down 0.2% to 7,744.63, with consumer services leading most sectors lower. But the utility, basic materials and financial groups were higher. On Tuesday, the London benchmark fell 0.2%, moving f…
GKN is “an overly complex and under-managed organisation without focus which needs a fundamental change of culture and leadership”. At least that’s the view of turnaround specialist Melrose Industries, which has the troubled FTSE 100 engineering group firmly on its acquisition radar.
In a presentation published on Monday targeting GKN shareholders, Melrose claimed that GKN has underperformed the FTSE 350 Total Shareholder Return (TSR) index by 26% since 2011. Despite spending £3.2bn on capex and acquisitions, it has “a history of missed margin targets since 2011”.
Melrose believes it can “re-energise and re-purpose GKN’s operations” to exceed the existing top-end trading margin target of 10%, from around 8% currently. My calculations suggest that if this was the case, H1 operating profit would have been roughly £521m, 20% higher than the £436m reported last July.
The other side of the story
In its response to the original bid approach, GKN’s said that the Melrose offer of 405p per share was “entirely opportunistic” and “fundamentally” undervalued the company. –Update 17/01/2018: Melrose is going hostile and has just made a firm offer for GKN worth 430p per share. https://www.investegate.co.uk/…–
In fairness, I suspect the view…
Former executives at the failed construction firm will not get severance payments or bonuses.
Markets snap: The Nikkei closed down 0.35 per cent this morning at 23,868.34. The FTSE 100, which closed at 7,755.93, is forecast to open 16 points lower when trading begins shortly. At 6.47am Brent crude was trading at $69.18 a barrel and the pound wa…
The FTSE 100 made a lacklustre start to proceedings as it nudged 10 points lower to 7,746.09 following a rare down day on Wall Street. The fall-out from the Carillion (LON:CLLN) collapse continued as the national newspapers rounded on the management an…
Britain’s benchmark stock-market index started Wednesday in the red, with Informa, Burberry and Pearson all taking a hit after company news announcements. The FTSE 100 index of large UK companies was down 0.29 per cent shortly after the open in London. Informa was the worst performer, …
Events and publishing company Informa was the worst performer in the FTSE 100, down 8.6% at 683.20p in early trade, while smaller peer UBM was the … After the London market close on Tuesday, FTSE 250-listed UBM said it is in talks regarding a potenti…
Austria Dec CPI Inflation 2.2% Vs. 2.3% In November
The material has been provided by InstaForex Company – www.instaforex.com
Slovakia Dec HICP Flat On Month Vs. 0.3% In November
The material has been provided by InstaForex Company – www.instaforex.com
Austria 2017 CPI Inflation 2.1% Vs. 0.9% In 2016
The material has been provided by InstaForex Company – www.instaforex.com
It’s only about a week ago that the headlines were screaming statements like “FTSE 100 reaches new record high,” and the UK’s top stock market index has soared by 36% since its low point in February 2016. At a little over 7,700 points now, are things getting overheated and should we be taking some …
Austria Dec CPI Up 0.4% On Month
The material has been provided by InstaForex Company – www.instaforex.com
Slovakia Dec HICP Up 2% On Year Vs. 2.1% In November
The material has been provided by InstaForex Company – www.instaforex.com
Gold prices may fall if the Bank of Canada hints at further rate hikes ahead after today’s widely expected increase. Crude oil prices are eyeing API inventory flow data.
Jan 17 (Reuters) – Britain’s FTSE 100 index is seen opening down 21 points at 7,735.3 on Wednesday, according to financial bookmakers, with futures down 0.16 percent ahead of the cash market open. * INFORMA-UBM: Britain’s Informa on Wednesday offered to buy events organiser UBM for cash and …
Jan 17 (Reuters) – Britain’s FTSE 100 index is seen opening down 21 points at 7,735.3 on Wednesday, according to financial bookmakers, with futures down … The UK blue chip FTSE 100 index closed down 0.28 percent at 7,747.18 points on Tuesday, as oil and mining companies dragged the index, …
Euro Drops To 0.8873 Against Pound
The material has been provided by InstaForex Company – www.instaforex.com
IG says futures indicate the FTSE 100 index of large-caps to open down 28.13 points at 7,727.80 on Wednesday. … After the London market close on Tuesday, FTSE 250-listed UBM said it is in talks regarding a potential combination of its business with F…
Europe’s new passenger car registrations declined at the end of the year, data published by the European Automobile Manufacturers’ Association showed Wednesday.
Passenger car sales declined 4.9 percent year-over-year to 1,088,498 units in December, m…
The Asian nation has been a big adopter of virtual currency, so developments there have a global impact.
Spain Dec Car Registrations Up 6.2% On Year
The material has been provided by InstaForex Company – www.instaforex.com
UK Dec Car Registrations Down 14.4% On Year
The material has been provided by InstaForex Company – www.instaforex.com
Italy Dec Car Registrations Down 3.2% On Year
The material has been provided by InstaForex Company – www.instaforex.com
Germany Dec Car Registrations Down 1% On Year
The material has been provided by InstaForex Company – www.instaforex.com
France Dec Car Registrations Fall 0.5% On Year
The material has been provided by InstaForex Company – www.instaforex.com
Europe 2017 Car Registrations Rise 3.4%
The material has been provided by InstaForex Company – www.instaforex.com
Europe Dec Car Registrations Down 4.9% On Year: ACEA
The material has been provided by InstaForex Company – www.instaforex.com
Reuters reports that the FTSE 100 is seen opening 21 points lower at 7,735.3 this morning, according to financial bookmakers. The blue-chip index is likely to take cues from the US where stocks closed lower amid worries over a possible government shutdown. “I think the market has been conditioned to …
