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Finance & Stock Market News


BUZZ-Meggitt: best day in 5.5 mths after Elliott Capital takes stake

Mon, 8th Aug 2016 10:52


** Defence equipment maker Meggitt's shares up 6.7 pct as activist investment firm Elliott Capital Advisors' stake in co crosses 5 pct reporting threshold

** Co says Elliott Capital had little over 40.5 mln voting rights in co as of Aug 3, representing 5.2 pct of total outstanding shares

** Meggitt last week said it was on track to meet FY forecasts

** About 1.1 times 30-day average volumes traded by 0923 GMT; biggest one-day share price rise since Feb 23

** Up to Friday's close, stock had risen 10 pct YTD vs an 8.7 pct rise in the FTSE 350 Aerospace and Defence index (RM:sanjeeban.sarkar.thomsonreuters.com@reuters.net)



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