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Smiths Group investors await update on plan to spin off underperforming medical division
The day ahead includes first half results from Smiths Group and full year numbers from Sanne Group
Company
Smiths Group
LON:SMIN
Smiths is a global technology company involved in the practical application of advanced technologies. Smiths Group delivers products and services for the threat & contraband detection, medical devices, energy, communications and engineered components markets worldwide.
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RBC Capital ups Melrose to Top Pick in major review of UK engineering sector
In a note to clients, the Canadian bank’s analysts concluded: “We do not expect a major downturn, but even if there is one the recent sector sell-off has priced in a recession for many names in our coverage group”
Archive
The conglomerate discount: Why Smiths is spinning off its medical division
The value of a conglomerate is almost always less than the combined value of its subsidiaries, which is why firms such as Smiths and Whitbread are spinning off some of their assets
Investments and investor services
Funding news and shareholder sales in focus for Wednesday’s small cap movers
A look at the day's gainers and painers, including Vodafone, FirstGroup and Haydale Graphene
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Smiths shares jump as it announces plan to spin off medical unit
Smiths Group left its full year guidance unchanged as first quarter revenues dipped 1%
FTSE 100 closes lower ahead of Prime Minister's Brexit statement
The UK blue-chip index closed down 19.97 at 7,033, while FTSE 250 shed over 75 points at 18,910
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Investors hoping UK inflation will continue to retreat as wage growth goes in the opposite direction
Aside from the latest consumer price index data, the Day Ahead will also bring updates from the likes of British Land, SSE, Cobham, Smiths Group, and flyBe
FTSE 100 closes in red as Wall Street shares lag; Brexit exhaustion
The UK blue-chip benchmark finished down over 27 points at 7,026, while the FTSE 250 closed down over 52 points at 18,961.
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Sales acceleration expected from Unilever after Marmite maker's Dutch move stymied
Aside from the latest trading news from Unilever, the Day Ahead includes updates from blue-chip peer Rentokil Initial and FTSE 250-listed Domino's Pizza
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Smiths Group buys aero engineer United Flexible for US$345mln
Smiths Group sees United Flexible as a growth business with complementary positions on a number of growing aerospace platforms and in industrial markets
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Deutsche Bank cuts Smiths Group to ‘hold’ from ‘buy’ following recent full-year results
The German bank also reduced its sum-of-the-parts based target price for the FTSE 100-listed firm to 1,665p, down from 1,750p previously, with the shares currently changing hands at 1,487.50p each
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Smiths Group downgraded by JP Morgan after earnings miss expectations
J.P. Morgan cut its rating on Smiths Group to ‘neutral’ from ‘overweight’, saying it sees "limited upside" to its price target of 1,660p
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Smiths Group announces sale of sterile water bottling unit as it reports drop in profits
Smiths Group said full-year revenue fell 2%, reflecting declines in the medical and interconnect divisions
FTSE 100 surges higher as Brexit talks reach impasse; pound plunges
Around 4pm, the UK bluechip index was 109 points higher at 7,476, just easing back from the session peak of 7,495 after a strong week
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Sky goes up for auction to end heavy week for company results
The UK's takeover panel said the bidding process will transfer into an auction phase from 5pm tomorrow until Saturday evening
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Smiths Group ends talks with ICU Medical over business combination after failing to agree terms
The FTSE 100-listed group said while its board recognised the complementary strengths of both businesses, it felt it was important that any such combination did not undervalue Smiths Medical and its prospects
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Smiths Group shares gain after report of £2.8bn offer from ICU for medical division
ICU Medical has reportedly tried to revive talks with Smiths Group after the UK firm turned down a written offer for its medical business last month
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Smiths Group to abandon discussions over £7bn medical division merger with ICU Medical: report
The FTSE 100-listed group confirmed at the end of May that it was in very early stage discussions about the potential combination with ICU
Centrica expects to maintain its 2018 dividend, allaying cut fears, as British Gas owner posts slight rise in first-half earnings
The FTSE 100-listed firm saw its underlying earnings (EBITDA) increase by 3% to £1.324bn for the six months to June 30, however, the company's adjusted operating profit fell by 4% year-on-year to £782mln
Investments and investor services
NAHL runs into a wall after trading update
Companies covered today include 88 Energy, Bagir Group, Future, Mpac, NAHL, Quadrise Fuels and Smiths Group