Senior set for trading update ahead of August’s strategy review

0 1


Friday’s update for Senior will focus on current trading; investors will have to wait until 2 August for a full market and strategy update.

Results from () should make interesting reading as the engineering company recently saw off bid approaches from private equity group Lone Star.

Lone Star offered 200p cash per share; the shares currently trade at around 163p so there will likely be an even bigger effort from management to frame prospects in a bright light.

The aerospace engineer has been hit hard by the travails of the airline industry during the pandemic but said in response to Lone Star’s bid that it remains confident it is well-positioned to emerge strongly as the recovery continues across its end-markets.

READ Senior shares shrug higher on fifth bid from US private equity group

Friday’s update will focus on current trading; investors will have to wait until 2 August for a full market and strategy update.

On the macro front, the gross domestic product (GDP) release could continue the run of improvement in monthly GDP after the year started with a 2.9% contraction.

We’ve seen a steady pick-up in economic activity with a 0.4% rebound in February followed by 2.1% and 2.3% rises in March and April as lockdown restrictions were eased.

GDP for May is expected to grow at the same robust pace as in April but could be even higher, given other economic indicators.

“That may help to reassure people that the UK is bouncing back despite the rise in virus cases, which would be positive for the pound,” said market analyst Marshall Gittler at BDSwiss.

Significant announcements expected

Trading announcements: PLC (), (), Senior PLC ()

Economic data: UK trade balance, UK GDP



Source link

Leave A Reply

Your email address will not be published.