The FTSE-250 listed British Engineering company found its stock down by more than 3% in early trade following the publication of a statement by Siemens AG last night, countering press speculation and confirming that the German firm had no intention of tabling a bid for the company. Renishaw’s share price had been making strong gains since the release of half year numbers two months ago however, so today’s modest dip lower has done little to dampen enthusiasm.
The point of care pharmacogenetic testing company issued an update this morning advising that the UK’s National Institute for Health and Care Excellence (NICE) had recommended one of its test kits for use by the NHS in minimising risk for stroke patients. Shares in the AIM listed company have jumped by a third in the first hour of Wednesday’s trade and although the public consultation period remains open for another three weeks, investors seem confident of the outlook here.
A trading update from the UK’s leading tile specialist was published this morning on an otherwise relatively quiet news day. Sales were down but the market seemed broadly unfazed by these numbers as they came against some tough comparatives. With a strong balance sheet, management note they are well positioned to take advantage of the next cyclical recovery in demand. Having traded as much as 6% lower at the open, the stock was off by around 1.5% at 9.30am.
