Stock Market News
Sector movers: Engineers dominate at top and bottom of leaderboard
The industrial engineering sector led the way on Tuesday, while oil equipment & services was dropping like a stone.
Fenner was the main driver for UK industrials as the shares surged after the engineer agreed to be bought by French tyre giant Michelin in a deal worth around £1.3bn.
Shareholders in the FTSE 250 company will receive 610p in cash per share, which is a premium of around 31% to the closing price of 467p on 16 March. Fenner shareholders will also receive a dividend of up to 2.1p per share to be declared around 25 April.
Sector mates such as Bodycote and Hill & Smith were also on the front foot as investors had deals on the mind.
Shares in RHI Magnesita were also higher as the company formed from the merger of RHI and Magnesita reports its first full year results since listing in London at the end of October and joining the FTSE 250 in December. The historic numbers will primarily reflect a combination of the fortunes of the two businesses as separate entities, said broker Numis, hence recent trading, balance sheet and outlook "will prove the most meaningful".
The oil services sector was down principally due to Wood Group's results not being very well received. The engineering group, also recently expanded by merger, expects to see modest earnings growth in 2018, with analysts highlighting the company's cautious outlook.
Top performing sectors so far today
Industrial Engineering +1.95%
Industrial Metals & Mining +1.57%
Life Insurance +1.37%
Oil & Gas Producers +1.28%
Financial Services +1.23%
Bottom performing sectors so far today
Oil Equipment, Services & Distribution -3.98%
Leisure Goods -1.56%
Software & Computer Services -1.29%
Tobacco -0.90%
Gas, Water & Multiutilities -0.86%
Fenner was the main driver for UK industrials as the shares surged after the engineer agreed to be bought by French tyre giant Michelin in a deal worth around £1.3bn.
Shareholders in the FTSE 250 company will receive 610p in cash per share, which is a premium of around 31% to the closing price of 467p on 16 March. Fenner shareholders will also receive a dividend of up to 2.1p per share to be declared around 25 April.
Sector mates such as Bodycote and Hill & Smith were also on the front foot as investors had deals on the mind.
Shares in RHI Magnesita were also higher as the company formed from the merger of RHI and Magnesita reports its first full year results since listing in London at the end of October and joining the FTSE 250 in December. The historic numbers will primarily reflect a combination of the fortunes of the two businesses as separate entities, said broker Numis, hence recent trading, balance sheet and outlook "will prove the most meaningful".
The oil services sector was down principally due to Wood Group's results not being very well received. The engineering group, also recently expanded by merger, expects to see modest earnings growth in 2018, with analysts highlighting the company's cautious outlook.
Top performing sectors so far today
Industrial Engineering +1.95%
Industrial Metals & Mining +1.57%
Life Insurance +1.37%
Oil & Gas Producers +1.28%
Financial Services +1.23%
Bottom performing sectors so far today
Oil Equipment, Services & Distribution -3.98%
Leisure Goods -1.56%
Software & Computer Services -1.29%
Tobacco -0.90%
Gas, Water & Multiutilities -0.86%
Related share prices |
---|
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price