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Cobham Share News (COB)

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Sector movers: Meggitt, Cobham lift defence stocks

Wed, 23rd Nov 2016 16:00

(ShareCast News) - Price gains for some key steel-making ingredients such as iron ore and thermal coal as well as in Chinese rebar futures kept pushing shares in Evraz and many of the main mining groups higher.Overnight, spot iron ore prices at Tianjin advanced from $69.0 a tonne to $71.5 a tonne, alongside a gain in steel rebar from $446.6 a tonne to $452.2.However, a spike in US Treasury yields lifted the US Dollar index, leaving a big dent in gold futures and punishing shares in precious metals miners such as Fresnillo, Randgold Resources and Polymetal.As of 1627 GMT gold futures for delivery in December were down by 1.93% to $1,187.90 on COMEX.Rotork was the standout gainer among Industrial Engineering stocks a day after the company said it expected full-year revenue to be towards the top end of expectations due to a currency tailwind and a good performance from acquisitions.Shares in the valve specialist were making a run at technical resistance near 229p and to break above its 200-day moving average in a convincing manner.Aerospace and Defence was also near the top of the leaderboard, with shares in Meggitt and Cobham pacing gains.Meggitt got a boost on Wednesday from speculation it may have received a bid approach.In parallel, Cobham got a leg up from Sandy Morris at Jefferies who nudged higher his target price on the manufacturer."We find that some significant drivers should work in Cobham's favour - defence spending, digitalisation (the "Cloud"), new air traffic management systems and more efficient shipping," Morris said in a research note sent to clients.Going the other way, supermarket Tesco was the main drag on its sector, with traders pointing to the fact they will be hit by the increase in the National Living Wage to £7.50 from £7.20 in April next year.Top performing sectors so far todayIndustrial Metals & Mining 2,669.00 +3.12%Industrial Engineering 9,941.34 +1.66%Aerospace and Defence 4,671.84 +1.30%Technology Hardware & Equipment 957.69 +1.19%Automobiles & Parts 7,290.09 +0.71%Bottom performing sectors so far todayFixed Line Telecommunications 4,109.89 -1.51%Construction & Materials 6,446.74 -1.42%Electronic & Electrical Equipment 4,830.21 -1.35%Food & Drug Retailers 3,089.37 -1.35%Household Goods & Home Construction 15,710.41 -1.23%

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(ShareCast News) - AstraZeneca: Jefferies reiterates Buy with a target price of 5250p. BT Group: Jefferies reiterates Hold with a target price of 325p. Standard Life: Macquarie reiterates Outperform with a target price of 450p. Cobham: Goldman Sachs reiterates Sell with a target price of 88p. Dra

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16 Feb 2017 14:53

Sector movers: Aerospace & Defence and Oil & Gas drag market lower

(ShareCast News) - Stocks in the aerospace and defence space bore the brunt of selling after Cobham warned on profits for the fifth time in just over a year. The FTSE 250 aerospace and defence group took a total of £179m in charges, including £150m from the KC-46 air tanker contract with Boeing, whi

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Britain's FTSE retreats from one-month peak, commodity-linked stocks weigh

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 down 0.4 pct * Miners, energy shares fall * Ex-divs weigh * Cobham slumps after results By Kit Rees

16 Feb 2017 10:13

European shares retreat after 7 sessions of gains, Cobham plunges

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) * STOXX Europe 600 index down 0.3 pct * Cobham plunges 20 pct after results * Miners track weaker metals prices By Atul Pr