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Sector movers: Tesco leads cyclicals higher, pharma drags

Fri, 14th Oct 2016 12:54

(ShareCast News) - Cyclicals took over from defensives, with Tesco spearheading gains among food and drug retailers while pharma stocks acted as the main drag.Tesco shares accounted for the lion's share of the gains in that sector after Unilever said issues surrounding the supply of its leading brands including Marmite to the supermarket have been resolved.The two companies were at loggerheads after Unilever said it wanted to raise its prices by about 10% to compensate for the plunge in the value of the pound.Laird, one of tech-giant Apple's suppliers, edged higher as Samsung's troubles continued to pile up.On Friday, the South Korean smartphone manufacturer said the recall of Galaxy Note 7 devices thus far had already seen $2.3bn go up in flames - costs, that is - and the additional losses in profit over the next six months is expected to take that figure to $5.3bn.Drax buoyed electricity stocks as its shares continued to hold at their 200-day moving average despite the back-up in longer-term Gilt yields.The construction sector was another top gainer, despite ONS data revealing a 1.5% month-on-month drop in the sector's output in August, a far worse outcome than the flat reading which had been expected.Nevertheless, not all areas of the construction universe crumbled in August, with new private commercial work up by 1.5% month-on-month.Risk of US Democrats taking both chambers of Congress risesPharma stocks were again the main drag.The Stoxx 600 health care index had underperformed the wider market by 11% since early July, partly as investors rotated into cyclicals, Deutsche Bank said in a research note sent to clients.The other main factor were the increasingly positive poll ratings for US Democratic presidential candidate Hillary Clinton.Clinton - who had vowed to fight for lower drug pricing - might be stymied by the Republican/controlled House of Representatives, but the odds that Democrats would sweep to victory in both the House and Senate had risen to 35% over the past days, the broker's FX strategists said, pointing to a poll from RealClearPolitics to back up their case.Top performing sectors so far todayFood & Drug Retailers 3,021.07 +2.57%Technology Hardware & Equipment 2,092.05 +2.11%Fixed Line Telecommunications 4,295.55 +1.95%Electricity 9,064.38 +1.60%Construction & Materials 6,481.67 +1.56%Bottom performing sectors so far todayPersonal Goods 31,245.57 -0.89%Pharmaceuticals & Biotechnology 14,756.79 -0.36%Electronic & Electrical Equipment 5,374.66 -0.31%Beverages 17,337.12 -0.29%Tobacco 56,455.02 -0.07%

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10 May 2018 11:48

Laird Disposes Of Korean Prototyping Business To Hankook Tire

LONDON (Alliance News) - Electronics firm Laird PLC on Thursday said it has sold its 51% holding in its South Korean prototyping business to Hankook Tire Co Ltd for USD43.6 million.The sold

27 Apr 2018 08:16

Laird First Quarter Revenue Grows As Takeover By Advent Progresses

LONDON (Alliance News) - Laird PLC said Friday that first quarter revenue grew 8% on an organic basis with growth across all divisions, as its GBP1.00 billion takeover by Advent International Corp

20 Apr 2018 15:00

UK Shareholder Meetings Calendar - Next 7 Days

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23 Mar 2018 10:23

Engineer Babcock Appoints Two New Non-Executive Directors

LONDON (Alliance News) - Engineering company Babcock International Group PLC said Friday that it has appointed Kjersti Wiklund and Lucy Dimes as independent non-executive am a

7 Mar 2018 14:02

Advent to seek buyer for conveyor belt firm Ammeraal Beltech -sources

By Dasha Afanasieva and Clara Denina LONDON, March 7 (Reuters) - Private equity firm Advent has hired Goldman Sachs and Rothschild to sell Dutch conveyor belt company a

1 Mar 2018 08:16

UPDATE 1-Advent Intl to buy UK tech firm Laird in $1.65 bln deal

LONDON, March 1 (Reuters) - Private equity firm Advent International has agreed to buy British electronics and technology business Laird, the firms said on Thursday, valuing a

1 Mar 2018 07:23

Advent International agrees $1.4 bln takeover of Laird

LONDON, March 1 (Reuters) - Private equity firm Advent International has agreed to buy British electronics and technology business Laird, the firms said on Thursday, valuing 1

13 Feb 2017 07:59

Laird said to consider sale of precision metals division

(ShareCast News) - Laird is said to be considering the sale of one of its major divisions as it struggles to turn its business around. According to The Telegraph, the FTSE 250 electronics component maker, whose shares have fallen sharply since its profit warning in October and rights issue in Decemb

24 Jan 2017 10:32

Laird reiterates full-year expectations, on track for rights issue

(ShareCast News) - Laird, whose shares tumbled back in October after a profit warning, reiterated its full-year expectations on Tuesday as it said it was on track to announce a proposed rights issue to raise up to £185m to shore up its balance sheet. The technology company said trading for the ye

11 Jan 2017 13:58

UPDATE 3-British aerospace company Cobham misses profit target, scraps dividend

* Early readout puts trading profit at 245 mln stg * Group's already lowered target range was 255-275 mln stg * Scraps dividend after poor result on profit and debt * Shares fall as much as 21 pct (Adds CEO, CFO comments from analyst call) By Paul Sandle LONDON, Ja

2 Dec 2016 08:39

LONDON MARKET OPEN: Laird And Oil Producers Down; Housebuilders Up

2 Dec 2016 08:03

Laird to raise £185m through a rights issue, scraps final dividend

(ShareCast News) - Electronics company Laird is to raise £185m through a rights issue and scrap its final dividend in a bid to strengthen its financial position. Through the rights issue, the company will offer shares to existing shareholders in proportion to their existing holdings in the first qua

25 Oct 2016 16:23

Anglo American leads Britain's FTSE higher, Whitbread slides

* FTSE 100 index up 0.5 pct at close * Anglo American leads market higher * Whitbread falls after update * Broker downgrades weigh on midcaps (Adds detail and quote, updates prices at close) By Kit Rees and Atul Prakash LONDON, Oct 25 (Reuters) - Britain's top shar

25 Oct 2016 15:12

GRAPHIC-Downgrades, profit warnings ring Brexit alarms for UK mid-caps

* FTSE 250 vs FTSE 100: http://reut.rs/2eCvwk9 * Profit warnings spark broker downgrades * Earnings disappointments lead to outsized moves * Senior, Cobham, Laird among midcaps warning on profits By Kit Rees LONDON, Oct 25 (Reuters) - A spate of profit warnings among

25 Oct 2016 10:10

Tuesday broker round-up

(ShareCast News) - Segro: Barclays keeps at overweight with a target price of 520p. Howden Joinery: Berenberg downgrades to hold, 450p target. Standard Chartered: Deutsche Bank reiterates sell with a 574p target. Cobham: UBS reiterates neutral with a 160p target. Cobham: Barclays reiterates equal

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Sector movers: Tesco leads cyclicals higher, pharma drags

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