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Pin to quick picksIntertek Group Share News (ITRK)

Share Price Information for Intertek Group (ITRK)

London Stock Exchange
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Share Price: 5,010.00
Bid: 5,000.00
Ask: 5,005.00
Change: 54.00 (1.09%)
Spread: 5.00 (0.10%)
Open: 5,060.00
High: 5,070.00
Low: 4,974.00
Prev. Close: 4,956.00
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Britain's FTSE boosted by an unsolicited bid for Smurfit Kappa

Tue, 06th Mar 2018 09:24

(For a live blog on European stocks, type LIVE/ in an Eikonnews window)

* FTSE 100 up 0.9 pct

* Smurfit Kappa jumps 17 pct on unsolicited offer

* Sector peers Mondi and DS Smith rise

* Just Eat set for worst trading day

By Julien Ponthus

LONDON, March 6 (Reuters) - An unsolicited bid for Irishpackaging group Smurfit Kappa from U.S.-based InternationalPaper lifted shares in the whole sector on Tuesday, providing aboost to Britain's top share index.

The FTSE 100 was up 0.9 percent at 7,180 points by0907 GMT, slightly higher than the European average as worldmarkets shrug off trade war fears or political risk concerns inItaly following its inconclusive general election.

Shares in Smurfit Kappa, Europe's largest producerof paper-based packaging, jumped 17 percent to 33.7 euros afterthe company said the offer from International Paperfailed to reflect its growth prospects and the industry'sattractive outlook.

"We believe an offer above 33 euros per share would berealistic" to start discussions between both groups, Jefferiessaid in a note where it saw a "positive M&A read" to packagingpeers DS Smith and Mondi MNDI.L>.

The two groups, also listed in London, rose 4.5 and 3.9percent respectively and were among the session's top gainers.

UK testing company Intertek Group secured thesecond-best position up 6.1 percent after publishing itsfull-year results.

Things went very differently for Just Eat, whichdisappointed investors with its 2018 core earnings forecast andwas set for its worst trading day ever, down 12.5 percent.

Just Eat said it would invest an additional 50 millionpounds to stay ahead of its food delivery rivals, a figure whichsurprised some investors.

"If we were honest we did not expect a figure for totalinvestment for 2018 to the magnitude of 50 million pounds,"Berenberg analysts said.

Another loser was Industrial equipment rental companyAshtead Group whose shares were down 4.9 percent afterit released third-quarter results.(Julien PonthusEditing by Peter Graff)

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UK earnings, trading statements calendar - next 7 days

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Jan 2024 17:25

London close: Stocks turn weaker ahead of busy week for earnings

(Sharecast News) - London's stock market saw slight declines by the close on Monday, as investors turned their attention to a week filled with corporate earnings reports and central bank announcements.

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Broker tips: Kingfisher, Rotork, IMI, Intertek

(Sharecast News) - RBC Capital Markets downgraded B&Q and Castorama owner Kingfisher on Monday to 'sector perform' from 'outperform'.

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29 Jan 2024 13:46

Jefferies upgrades Intertek to 'buy'

(Sharecast News) - Jefferies upgraded testing, inspection and certification group Intertek on Monday to 'buy' from 'hold' and hiked the price target to 5,300p from 4,300p.

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London close: Stocks slip as investors brace for US inflation

(Sharecast News) - London stocks closed with losses on Wednesday, influenced by a pessimistic growth outlook from the World Bank and investors' attention to upcoming US inflation data.

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10 Jan 2024 11:24

RBC Capital upgrades Intertek, hikes price target

(Sharecast News) - RBC Capital Markets upgraded Intertek on Wednesday to 'outperform' from 'sector perform' and hiked the price target to 4,700p from 3,900p, making the stock its preferred pick in the testing, inspection and certification space.

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LONDON BROKER RATINGS: BofA cuts Ashtead; UBS likes 3i Group

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20 Dec 2023 17:12

UK's FTSE 100 touches near 7-month high as BoE rate cut bets gain traction

FTSE 100 up 1.0%, FTSE 250 adds 1.6%

*

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London close: Stocks rise as UK inflation slows further

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Exane BNP upgrades Intertek to 'outperform'

(Sharecast News) - Exane BNP Paribas upgraded Intertek on Wednesday to 'outperform' from 'underperform', saying it sees 20% upside from a re-rating as the market prices in stronger mid-term earnings per share growth.

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