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Pin to quick picksMelrose Share News (MRO)

Share Price Information for Melrose (MRO)

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Share Price: 673.00
Bid: 674.40
Ask: 674.60
Change: 2.40 (0.36%)
Spread: 0.20 (0.03%)
Open: 670.80
High: 679.40
Low: 667.00
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LONDON MARKET OPEN: Stocks Rally On Covid-19 Case Stabilisation Hopes

Mon, 06th Apr 2020 08:53

(Alliance News) - Stock prices in London opened higher on Monday on hopes coronavirus lockdowns will ease, after the rise in the death toll in many countries slowed.

Italy reported its lowest daily toll in two weeks, while Spanish officials said deaths fell for the third straight day and France reported its lowest daily toll in a week.

Meanwhile, South Korea saw its fewest new cases in six weeks, while President Donald Trump said the US was showing signs of stabilising, despite the number of cases there passing 335,000 - the highest in the world.

The large-cap FTSE 100 index was up 120.33 points, or 2.2%, at 5,535.83.

The mid-cap FTSE 250 index was up 284.55 points, or 2.0%, at 14,383.56. The AIM All-Share index was up 0.7% at 663.98.

The Cboe UK 100 index was up 2.4% at 9,376.15. The Cboe 250 was up 0.9% at 12,236.75, and the Cboe Small Companies was flat at 7,938.68.

In mainland Europe, the CAC 40 in Paris and DAX 30 in Frankfurt were up 3.3% and 3.6% respectively early Monday.

"European stock markets have opened higher on signs that infection rates could be peaking and that stay home orders could be rescinded by Easter. But although the overall tone feels better, every day sees more evidence of the toll the economic shutdown is having on individual companies," said London Capital Group's Jasper Lawler.

In the FTSE 100, Carnival was the best performer, up 13%. The cruise line operator was rebounding from sharp losses last week after it had raised new financing at a higher cost than expected. The stock fell 29% last week.

Rolls-Royce Holdings was up 9.4%, despite the jet engine maker joining the long list of blue-chips withdrawing financial guidance and scrapping its dividend.

Rolls-Royce said it exited 2019 in a robust liquidity and financial position. In response to the change in outlook resulting from the global spread of Covid-19 and to ensure cash headroom, Rolls-Royce took the "precautionary decision" in March to draw fully on its GBP2.5 billion revolving credit facility, it said.

Including this cash, which has been placed on short-term deposit, the company said its current gross cash balance is GBP5.2 billion. Rolls-Royce also secured an additional GBP1.5 billion revolving credit facility commitment with a consortium of banks, which will increase overall liquidity to GBP6.7 billion, it added.

However, in light of the coronavirus outbreak, Rolls-Royce decided that it was no longer recommending a final shareholder payment of 7.1 pence per share for 2019.

Meggitt and Melrose Industries, which like Rolls-Royce provide aftermarket services to the aerospace sector, were up 12% and 11% respectively in a positive read-across.

At the other end of the large-cap index, Smiths Group was the worst performer, down 1.0% after the engineer said trading was increasingly affected by the Covid-19 outbreak.

Smiths Group said trading to the end of March was hurt by early coronavirus disruption. The company added that this disruption is now accelerating, hitting both demand and supply in the near-term.

For the half-year ended January 31, pretax profit fell 48% to GBP46 million from GBP89 million the year before on revenue of GBP1.24 billion, up from GBP1.14 billion.

The Japanese Nikkei 225 index closed up 4.2%. The Hang Seng index in Hong Kong is up 2.2%. The Shanghai market was closed for the Tomb Sweeping Day holiday.

The pound was quoted at USD1.2259 Monday morning, up from USD1.2221 at the London equities close Friday.

UK Prime Minister Boris Johnson has spent the night in hospital after he was admitted for tests as his coronavirus symptoms persist.

He will stay for "as long as needed" in the London NHS hospital where he was taken as a "precautionary step" on the advice of his doctor - rather than as an emergency.

The news came just an hour after the Queen delivered a message of hope to the nation amid the Covid-19 pandemic, saying "we will overcome it" although we "may have more still to endure".

Meanwhile, Health Secretary Matt Hancock warned outdoor exercise could be banned if people continued to flout the social distancing rules.

The euro was quoted at USD1.0828, up from USD1.0791 late Friday. Against the yen, the dollar was quoted at JPY108.94, up from JPY108.55.

Two senior Germany government ministers called on Monday for collective EU measures to be used in the fight against the new coronavirus. EU member states are at odds over how much fiscal firepower to use to cushion the economic blow of the pandemic, with finance ministers due to revisit the issue on Tuesday.

Brent oil was quoted at USD33.42 a barrel Monday morning, up from USD33.05 late Friday. OPEC and Russia have postponed a virtual emergency meeting planned for Monday until Thursday, the government of Azerbaijan said over the weekend.

Oil prices fell to a low of around USD31.70 on Sunday on news the meeting was delayed, dimming hopes of swift action to support energy markets, but have since recovered.

"In the commodity space, the much-touted OPEC+ meeting has been pushed till Thursday. But the fact is that the meeting is still taking place, and this is all that matters. Hence, we have not seen much drop in oil prices...If the global lockdown starts to ease off, we could see the oil price improving a little more," said AvaTrade analyst Naeem Aslam.

Gold was quoted at USD1,616.47 an ounce, up from USD1,618.25 late Friday.

The economic events calendar on Monday has the UK construction PMI reading at 0930 BST.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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21 Mar 2024 15:00

UK dividends calendar - next 7 days

Friday 22 March 
easyJet PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Gulf Investment Fund PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hercules Site Services PLCdividend payment date
Impax Asset Management Group PLCdividend payment date
JLEN Environmental Assets Group Ltddividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mobeus Income & Growth 2 VCT PLCdividend payment date
Mobeus Income & Growth 4 VCT PLCdividend payment date
Ramsdens Holdings PLCdividend payment date
Riverstone Credit Opportunities Income PLCdividend payment date
Ruffer Investment Co Ltddividend payment date
Samuel Heath & Sons PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Unilever PLCdividend payment date
Monday 25 March 
AstraZeneca PLCdividend payment date
Endeavour Mining PLCdividend payment date
Mountview Estates PLCdividend payment date
Shell PLCdividend payment date
Tuesday 26 March 
no events scheduled 
Wednesday 27 March 
abrdn Diversified Income & Growth PLCdividend payment date
Thursday 28 March 
Alliance Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
Berkeley Group Holdings PLCdividend payment date
BHP Group Ltddividend payment date
BlackRock Energy & Resources Inc Trust PLCex-dividend payment date
BlackRock Sustainable American Income Trust PLCex-dividend payment date
BlackRock Throgmorton Trust PLCdividend payment date
BP PLCdividend payment date
City of London Investment Group PLCdividend payment date
Crown Place VCT PLCdividend payment date
CT UK Capital & Income Investment Trust PLCdividend payment date
Develop North PLCdividend payment date
Diversified Energy Co PLCdividend payment date
Downing Renewables & Infrastructure Trust PLCdividend payment date
Gateley Holdings PLCdividend payment date
Genus PLCdividend payment date
Hargreaves Lansdown PLCdividend payment date
HICL Infrastructure PLCdividend payment date
Idox PLCex-dividend payment date
Imperial Brands PLCdividend payment date
Melrose Industries PLCex-dividend payment date
Mid Wynd International Investment Trust PLCdividend payment date
Moneysupermarket.com Group PLCex-dividend payment date
NextEnergy Solar Fund Ltddividend payment date
North Atlantic Smaller Cos Investment Trust PLCdividend payment date
Personal Group Holdings PLCex-dividend payment date
Premier Miton Global Renewables Trust PLCdividend payment date
Quartix Technologies PLCex-dividend payment date
Renewables Infrastructure Group Ltddividend payment date
Schroder Real Estate Investment Trust Ltddividend payment date
SDCL Energy Efficiency Income Trust PLCdividend payment date
Smith & Nephew PLCex-dividend payment date
Taylor Wimpey PLCex-dividend payment date
Thames Ventures VCT 2 DSO 1 D PLCdividend payment date
Travis Perkins PLCex-dividend payment date
Utilico Emerging Markets Trust PLCdividend payment date
Vaalco Energy Incdividend payment date
Value & Indexed Property Income Trust PLCex-dividend payment date
VH Global Sustainable Energy Opportunities PLCdividend payment date
Volution Group PLCex-dividend payment date
Wynnstay Group PLCex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-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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UK earnings, trading statements calendar - next 7 days

Friday 1 March 
IMI PLCFull Year Results
Pearson PLCFull Year Results
Rightmove PLCFull Year Results
Tritax Big Box REIT PLCFull Year Results
Monday 4 March 
Clarkson PLCFull Year Results
Craneware PLCHalf Year Results
GlobalData PLCFull Year Results
Quartix Technologies PLCFull Year Results
Tuesday 5 March 
Ashtead Group PLCQ3 Results
Bakkavor Group PLCFull Year Results
Beeks Financial Cloud Group PLCHalf Year Results
Blackbird PLCFull Year Results
Dotdigital Group PLCHalf Year Results
Ferguson PLCHalf Year Results
Foxtons Group PLCFull Year Results
Fresnillo PLCFull Year Results
Greggs PLCFull Year Results
Headlam Group PLCFull Year Results
Inchcape PLCFull Year Results
Intertek Group PLCFull Year Results
IWG PLCFull Year Results
Johnson Service Group PLCFull Year Results
Keller Group PLCFull Year Results
Reach PLCFull Year Results
Rotork PLCFull Year Results
SIG PLCFull Year Results
Somero Enterprises IncFull Year Results
STV Group PLCFull Year Results
Travis Perkins PLCFull Year Results
XP Power LtdFull Year Results
Wednesday 6 March 
Breedon Group PLCFull Year Results
Capita PLCFull Year Results
ConvaTec Group PLCFull Year Results
DS Smith PLCTrading Statement
Galliford Try Holdings PLCHalf Year Results
Greencoat Renewables PLCFull Year Results
Ibstock PLCFull Year Results
Lancashire Holdings LtdFull Year Results
Legal & General Group PLCFull Year Results
Netcall PLCHalf Year Results
Nexxen International LtdFull Year Results
Nichols PLCFull Year Results
Quilter PLCFull Year Results
Rathbones Group PLCFull Year Results
Ricardo PLCFull Year Results
Spirent Communications PLCFull Year Results
TClarke PLCFull Year Results
Tullow Oil PLCFull Year Results
CLS Holdings PLCFull Year Results
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Admiral Group PLCFull Year Results
Aviva PLCFull Year Results
Beazley PLCFull Year Results
Brooks Macdonald Group PLCHalf Year Results
Coats Group PLCFull Year Results
Darktrace PLCHalf Year Results
Elementis PLCFull Year Results
Entain PLCFull Year Results
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Kier Group PLCFull Year Results
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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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