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    MRO   GB00BNR5MZ78

MELROSE INDUSTRIES PLC

(MRO)
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Upbeat Melrose earnings lift FTSE 100; energy stocks gain

09/02/2021 | 04:15am EDT
FILE PHOTO: Pedestrians leave and enter the London Stock Exchange in London

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Melrose jumps as aerospace division recovery drives H1 profit

* Unilever falls as JP Morgan cuts to underweight

* CMC Markets tumbles on annual earnings forecast cut

* FTSE 100 adds 0.2%, FTSE 250 off 0.1%

Sept 2 (Reuters) - The FTSE 100 rose on Thursday on an upbeat earnings report from Melrose Industries and as higher oil prices lifted energy stocks, although ex-dividend trading and losses in heavyweight Unilever capped gains.

The blue-chip index closed up 0.2%, with engineering firm Melrose surging 7.2% to a more-than-four-month high after swinging to a first-half profit, helped by a recovery in its aerospace division.

On the other hand, global miner BHP Group slid 5.6% to the bottom of index, while motor insurer Admiral Group slipped 1.9% as they traded ex-dividend.

The FTSE 100 has risen more than 10% so far this year, boosted by strong corporate earnings and hopes of a strong vaccine-led economic recovery, but a global resurgence in coronavirus cases and fears of a tapering in global monetary policy have rekindled concerns about the pace of growth.

Focus on Friday will be on the U.S. monthly jobs report, which could set the stage for the Federal Reserve's policy meeting later this month.

"The market is waiting for this non-farm payrolls (data) that has potentially big market moving implications for the Federal Reserve," said Neil Wilson, chief market analyst at Markets.com.

"With the Fed looking at the employment market more and more as its guide rather than inflation ... you're getting to the point now where, because of the potential imminent taper, each jobs report becomes more and more important."

The domestically focussed mid-cap index was down 0.1%, after notching a record closing high on Wednesday.

Unilever Plc fell 2.1% as JP Morgan downgraded the Dove soap maker's stock to "underweight" from "neutral."

CMC Markets sank 27.4% to the bottom of the index after the online trading platform slashed its annual earnings outlook.

EnQuest fell 6.1% after the North Sea-focused oil producer forecast annual production at the lower end of its earlier outlook range. (Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu, Rashmi Aich and Steve Orlofsky)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADMIRAL GROUP PLC -4.73% 2904 Delayed Quote.4.85%
CMC MARKETS PLC 0.32% 263 Delayed Quote.-32.48%
ENQUEST PLC -1.21% 26.03 Delayed Quote.133.19%
MELROSE INDUSTRIES PLC -0.63% 160.95 Delayed Quote.-8.96%
UNILEVER PLC 0.37% 3932.4528 Delayed Quote.-10.79%
All news about MELROSE INDUSTRIES PLC
10/15MELROSE INDUSTRIES : Barclays Raises Melrose Industries PT, Keeps Overweight Rating
MT
10/11MELROSE INDUSTRIES : Best Cost Apportionment
PU
10/08MELROSE INDUSTRIES : Morgan Stanley Keeps Melrose Industries At Equal-Weight, Trims PT
MT
10/05FTSE Gains, Greggs Success Shows Share Price Can Still Grow Further
DJ
10/05UK's Melrose hit by cancelled orders as carmakers battle chip crisis
RE
10/05LONDON STOCK EXCHANGE : New day, same problems
10/05No Brexit-Related Risk Seen Priced Into Sterling
DJ
10/05MELROSE INDUSTRIES : Says All Segments On Course to Hit Margin Targets
MT
10/05FTSE 100 Rises as Oil, Financial Stocks Gain
DJ
10/05FTSE 100 to Rebound Despite U.S., Asia Losses
DJ
More news
Analyst Recommendations on MELROSE INDUSTRIES PLC
More recommendations
Financials
Sales 2021 7 236 M 9 966 M 9 966 M
Net income 2021 85,2 M 117 M 117 M
Net Debt 2021 1 462 M 2 014 M 2 014 M
P/E ratio 2021 40,5x
Yield 2021 1,12%
Capitalization 7 088 M 9 770 M 9 762 M
EV / Sales 2021 1,18x
EV / Sales 2022 1,11x
Nbr of Employees 49 668
Free-Float 98,3%
Chart MELROSE INDUSTRIES PLC
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Melrose Industries PLC Technical Analysis Chart | MarketScreener
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Technical analysis trends MELROSE INDUSTRIES PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Last Close Price 162,10 GBX
Average target price 211,62 GBX
Spread / Average Target 30,5%
EPS Revisions
Managers and Directors
Simon Antony Peckham Chief Executive Officer & Director
Geoffrey Peter Martin Group Finance Director & Executive Director
Laurence Justin Dowley Non-Executive Chairman
Peter Dilnot Chief Operating Officer & Executive Director
Elizabeth Anne Hewitt Senior Independent Director
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