United KingdomMelrose warns chip shortage to hit auto business after strong recovery
Yadarisa Shabong
3 minute read
Britain s Melrose Industries (MRON.L) warned on Thursday its growth would be hit by a shortage of chips in the automotive supply chain as it recorded a rise in sales so far in 2021 thanks to a recovery in demand for cars and powder metals.
The owner of GKN. Which supplies parts to carmakers such as Volkswagen, said it was performing modestly ahead of its expectations, with sales for the four months ended April 30 up 8%.
Shares in the FTSE 100 company, which have continued to lose value this year after a 25% fall in 2020, rose 2.5% in early trade.
LONDON MARKET MIDDAY: BoE expects strong UK growth in 2nd quarter
Thu, 6th May 2021 12:09
(Alliance News) - Stock prices in London were marginally higher at midday on Thursday in the wake of the Bank of England s latest interest rate decision, while US drugmakers were in focus after the Biden administration backed a plan to waive Covid-19 vaccine patents.
The central bank left the key UK interest rate unchanged at 0.1% and its quantitative easing programme untouched, with the total target stock of asset purchases at GBP895 billion.
The Bank of England said the outlook for the UK economy remains uncertain due to the virus pandemic. It predicted that gross domestic product will increase sharply in the second quarter but for growth slow thereafter as the boost from reopening wanes.
FTSE 100 holds on to slight gains; Wall Street digests positive jobless claims data
Companies
FTSE 100 holds on to slight gains; Wall Street digests positive jobless claims data
The UK blue chip index closed higher after positive economic news
FTSE 100 adds 37 points
US stocks see mixed performance
UK service sector growth fastest since 2013
5:05pm: BoE meeting propels FTSE to positive day
The FTSE 100 ended Thursday up 37 points, 0.5%, at 7,076, while the FTSE 250 added 105 points, 0.5%, to 22,491. UK stocks have managed to stave off any of the losses seen on mainland Europe, with a positive assessment from the Bank of England highlighting a strong 2021, IG Senior Market Analyst Joshua Mahony said. The Bank of England meeting gave plenty of grounds for optimism, with the bank raising forecasts to predict the best year of growth since the second world war. The dramatic upgrade in growth forecasts saw the bank predict a rate of 7.25% over the course of 2021; up from the
FTSE 100 holds on to slight gains; Wall Street digests positive jobless claims data
Companies
FTSE 100 holds on to slight gains; Wall Street digests positive jobless claims data
The UK blue chip index closed higher after positive economic news
FTSE 100 adds 37 points
US stocks see mixed performance
UK service sector growth fastest since 2013
5:05pm: BoE meeting propels FTSE to positive day
The FTSE 100 ended Thursday up 37 points, 0.5%, at 7,076, while the FTSE 250 added 105 points, 0.5%, to 22,491. UK stocks have managed to stave off any of the losses seen on mainland Europe, with a positive assessment from the Bank of England highlighting a strong 2021, IG Senior Market Analyst Joshua Mahony said. The Bank of England meeting gave plenty of grounds for optimism, with the bank raising forecasts to predict the best year of growth since the second world war. The dramatic upgrade in growth forecasts saw the bank predict a rate of 7.25% over the course of 2021; up from the
LONDON MARKET PRE-OPEN: Next upgrades annual profit guidance
Thu, 6th May 2021 07:49
(Alliance News) - Stock prices in London are seen opening marginally higher on Thursday ahead of the Bank of England s interest rate decision at midday, as voters head to the polls across the UK for local elections.
In early company news, clothing and homewares retailer Next raised its full-year profit guidance on a strong first quarter. Housebuilder Barratt Developments said it expects an increase in annual completions. Industrial turnaround specialist Melrose Industries said it was encouraged by recent trading.
IG futures indicate the FTSE 100 index is to open 8.20 points higher at 7,047.50. The blue-chip index closed up 116.13 points, or 1.7%, at 7,039.30 Wednesday.