Babcock shares surge as Starmer calls for Europe to ‘step up’ on defence Economics Shares in Britain’s defence giants rallied on Monday morning as Prime Minister Sir Keir Starmer called for Europe to “step up” on defence spending. Babcock – which plays a key role in the UK’s nuclear submarine fleet as well as naval, land and air operations – surged nearly four per cent in early trading to [...]
Melrose founders’ Rosebank strikes £1.4bn deal Business Rosebank Industries, the investment vehicle led by Melrose founder Simon Peckham, has struck a £1.4bn deal for a North American electrical components business. The acquisition of Electrical Components International (ECI), the company’s first, will be financed through debt facilities and a £1.14bn capital raise at an issue price of £3 per share. Peckham, a veteran [...]
FTSE 100 nears record high but Trump threat lingers Markets The FTSE 100’s latest rally has put it inches away from sealing an all-time high but another tariff twist from the White House threatens the record. The UK’s flagship index was up one per cent to around 8,800p during midday trading on Tuesday as it reversed Friday’s losses made after Trump threatened the European Union [...]
Melrose ‘confident’ in profit growth despite tariff hit April 30, 2025 Melrose said it has charted a course to “successfully mitigate” its direct exposure to US tariffs and was confident in delivering profit growth in 2025. The owner of GKN Aerospace said on Wednesday it had explored a number of measures to reduce the impact on segments of the group unable to make use of any [...]
Melrose shares tumble as five-year targets fail to wow investors March 6, 2025 Shares in Melrose Industries tumbled more than 13 per cent on Thursday after a new set of five-year targets failed to chime with investors. GKN Aerospace’s owner is targeting £1.2bn in adjusted operating profit and around £5bn in revenue by 2029. It is also looking to secure annual earnings per share growth of more than [...]
GKN owner Dowlais faces merger from US competitor January 29, 2025 GKN Automotive owner Dowlais Group has become the latest London-listed firm to receive a merger offer from a US competitor. In a stock exchange announcement, Dowlais said that Michigan-based American Axle & Manufacturing Holdings had offered £1.16bn for the firm. The merger offer represents a 25 per cent premium on Dowlais’ closing price last night and [...]
GKN Aerospace owner Melrose holds outlook despite supply chain challenges November 18, 2024 Aerospace firms have struggled with supply chain issues throughout the post-Covid era. Shares in Melrose are down over 12 per cent this year.
Melrose shares plunge amid supply chain challenges August 1, 2024 The London-listed firm, which owns GKN Aerospace, revised down its revenue guidance to £3.8bn as it grapples supply chain issues.
Melrose founders eye FTSE 100 spot for new listed buyout vehicle July 9, 2024 A slew of blue-chip investors are backing a new listed private equity vehicle from the founders of Melrose Industries that is due to float in London on Thursday.
Mark Kleinman: Melrose 2.0 may shine more than Shein June 20, 2024 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his weekly City A.M. column.