Johnson Matthey rose 8% after a chemical group and a metal refiner said results to beat expectations.
Johnson Matthey JMAT,
said increased activity in automobiles and other key end markets, as well as cost control, would translate into adjusted operating income at the top consensus of £ 405-502 million.
Johnson Matthey also said it is conducting a strategic analysis of its healthcare business. Analysts at brokerage Equita say the selling price “could easily exceed” the £ 500 million estimate in its estimate of the sum of the parts.
Laura Hoy, an analyst at Hargreaves Lansdown, said the sale of a medical facility could help accelerate the transition from manufacturing catalytic converters to sourcing materials for batteries and hydrogen fuel cells.
“Moving to a more sustainable future has not been overlooked for JMAT, whose bread and butter makes catalytic converters to remove emissions from traditional car exhaust. With the move to electric vehicles already underway, the devices could eventually become obsolete, prompting the group to embark on a major change in strategy, ”she said.
The environmental topic was also widespread as the mining company Anglo American AAL,
grew after the announcement of the spin-off of its thermal coal operations to a public company in Johannesburg and London.
Wider FTSE 100 UKX,
rose 0.4%, in line with global market gains as traders reacted to signs of continued buying of bonds by the US Federal Reserve.
also grew by almost 3%. The pharmaceutical drug has been weighed down by ongoing concerns about the safety of the COVID-19 vaccine.
Cambridge Cognition Holdings COG,
The AIM listed company jumped 20% after a £ 500,000 contract with a new pharmaceutical client to conduct cognitive assessments in home clinical trials. He did not give the name of a client who, he said, had central nervous system medications in stock.