19 April 2021 | 08:28am
StockMarketWire.com - UK stocks made modest gains in early trading Monday as investors continue to bet on a global economic recovery while vaccine rollouts gather pace.
At 0816, the benchmark FTSE 100 index was up 12.24 points, or 0.2%, at 7,031.77.
Engineering group Melrose Industries edged up 0.1% to 179.1p, having agreed to sell its Nortek Air Management business to Chicago-based Madison Industries for around £2.62 billion ($3.625 billion).
Melrose Industries said a portion of the proceeds would be returned to shareholders, without specifying how much. It also intended to use them to cut debt and contribute around £100 million to pension schemes.
Gas company Energean fell 3.5% to 827p after it reported a widening of annual pre-tax losses to $113.6 million amid lower energy prices.
19 April 2021 | 16:41pm
StockMarketWire.com - The FTSE 100 dipped a little as the afternoon wore on as sterling gained ground against the dollar, closing down 0.3% at 7,000.08.
A stronger pound hits the relative value of the overseas earnings which dominate the index. Sentiment also wasn t helped by a weaker open on Wall Street as Covid-19 concerns mount again.
By 4.30pm UK time the S&P 500 was down 0.5% to 4,163.67.
Engineering group Melrose Industries fell 4.6% to 170.6p, having agreed to sell its Nortek Air Management business to Chicago-based Madison Industries for around £2.62 billion ($3.625 billion).
Melrose Industries said a portion of the proceeds would be returned to shareholders, without specifying how much. It also intended to use them to cut debt and contribute around £100 million to pension schemes.
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