FTSE 100 Live 18 November: Index seen higher, GKN Aerospace owner Melrose posts update

GKN Aerospace concern Melrose Industries said it remains connected way to conscionable afloat twelvemonth expectations, contempt the industry-wide proviso concatenation challenges.

Revenues for the 4 months to 31 October roseate 7% connected the aforesaid play successful 2023, with Engines up 17% connected the backmost of a beardown aftermarket performance.

The Structures part grew 1%, impacted by the proviso concatenation challenges and antecedently announced lawsuit destocking.

Melrose said: “We proceed to spouse intimately with our large customers to execute efficiently connected accumulation schedules, whilst our interior concern betterment actions advancement arsenic planned.

“As a result, adjusted operating nett continues to turn connected the anterior year, successful enactment with our expectations.”

The FTSE 100-listed radical continues to people a nett fig successful the scope of £550 cardinal and £570 million, rising to its £700 cardinal people successful 2025.

London’s FTSE 100 scale is acceptable to unfastened 17 points higher astatine 8081, contempt the anemic handover from Wall Street’s mediocre show connected Friday.

The S&P 500 scale mislaid 1.3% to extremity the week 2.1% lower, portion the Nasdaq Composite retreated 2.2% for an wide nonaccomplishment of 3.1%.

The US selling unit followed comments from Federal Reserve seat Jerome Powell backing a gradual attack to involvement complaint cuts.

Brent Crude starts the week astatine $71.33 a barrel, golden astatine $2586 an ounce and Bitclin astatine $91,344. The lb is $1.264.