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MarketScreener Homepage  >  Equities  >  Nyse  >  IHS Markit Ltd.    INFO   BMG475671050

IHS MARKIT LTD.

(INFO)
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UK factory PMI shows fastest growth since 2017 on no-deal stockpiling

12/01/2020 | 05:29am EST
Christmas, coronavirus and fear of no-deal Brexit push Europe's warehouses to the limit

LONDON (Reuters) - British factories recorded their fastest growth in almost three years last month as they stockpiled raw materials and rushed to complete work before new post-Brexit customs rules come into force on Jan. 1, a survey showed on Tuesday.

The IHS Markit/CIPS Purchasing Managers' Index rose to 55.6 in November from 53.7 in October, its highest since December 2017 and above an earlier flash reading of 55.2, bucking a gloomier picture from other sectors hit harder by COVID.

"The upcoming end to the Brexit transition period ... led to rising levels of input purchasing, stockpiling of raw materials and stronger gains in new export business as EU-based clients brought forward orders," data company IHS Markit said.

Britain and the EU have so far failed to agree a deal to allow tariff-free trade from Jan. 1, and even with a deal many exporters fear lengthy delays at ports due to new customs requirements.

"Whether the upturn of manufacturing production can be sustained into the new year is therefore highly uncertain, especially once the temporary boosts from Brexit purchasing and stockbuilding wane," IHS Markit director Rob Dobson said.

November saw the biggest rise in purchases of raw materials since March 2019, the biggest rise in export orders since January 2018, and the sharpest boost to optimism since 2014.

Factory output, which is only one component of the total PMI, also accelerated. But it showed slower growth than over the summer as the second wave of COVID cases reduced demand for some consumer goods, where new orders fell by the most in six months.

The most recent official data showed that factory output in September was almost 8% lower than a year earlier, similar to the rest of the economy.

Manufacturing is also still experiencing job losses, with the PMI showing that factories cut staff numbers for a tenth consecutive month, the longest decline since the 2008-09 recession after the global financial crisis.

(Reporting by David Milliken; Editing by Catherine Evans)

By David Milliken


© Reuters 2020
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Financials (USD)
Sales 2020 4 294 M - -
Net income 2020 867 M - -
Net Debt 2020 4 716 M - -
P/E ratio 2020 41,5x
Yield 2020 0,75%
Capitalization 35 733 M 35 733 M -
EV / Sales 2020 9,42x
EV / Sales 2021 8,62x
Nbr of Employees 15 500
Free-Float 82,1%
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 102,63 $
Last Close Price 89,70 $
Spread / Highest target 32,7%
Spread / Average Target 14,4%
Spread / Lowest Target -0,78%
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Managers and Directors
NameTitle
Lance Darrell Gordon Uggla Chairman & Chief Executive Officer
Jonathan Gear Chief Financial Officer & Executive Vice President
Yaacov Mutnikas Chief Technology Officer & Chief Data Scientist
Michael Ferreira Vice President-Information Technology
Deborah Doyle McWhinney Independent Director
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