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Buyers are being sought for Gloucestershire engineering firm Renishaw, which employs 2,200 staff in the county. John Deer and Sir David McMurtry, founder of Renishaw, are looking to sell their 53 per cent stake in the Gloucestershire engineering business. Sir David McMurtry, chairman and chief executive of Renishaw plc, has decided to sell his shares in the business he co-founded with John Deer. Staff at engineering giant Renishaw woke to a shock this morning as the ‘for sale’ sign went up outside the Gloucestershire business. Since its foundation in 1973 by former Rolls Royce engineers J...

French Connection The FTSE 100 climbed past its rival markets as it finished the day higher on the back of strong performances by mining firms. It started the session cautiously but pushed upwards amid speculation that Chancellor Rishi Sunak will extend the furlough scheme and announce further financial support in Wednesday’s Budget announcement. London’s top flight closed 25.22 points higher at 6,613.75 on Tuesday. Connor Campbell, financial analyst at Spreadex, said: “The FTSE was the outlier on an otherwise tepid Tuesday, pulling ahead of its Eurozone and US peers. “The U...

Europe’s other major indices closed the session higher amid an uptick in sentiment later in trading. The German Dax increased by 0.21% and the French Cac moved 0.31% higher. Across the Atlantic, the Dow Jones dipped slightly after its major rebound on Monday had moved it back towards record highs. Meanwhile, sterling made gains against an uneasy dollar as it was also strengthened by optimism regarding the UK’s economic recovery out of lockdown measures. The pound increased by 0.14% versus the US dollar to 1.394 and was down 0.05% against the euro at 1.155. In company news, FTSE 250 engine...

2 March 2021 | 08:32am StockMarketWire.com - UK stocks made modest gains in early trading on Tuesday after a bevvy of local companies released earnings results, including a pleasing update from Taylor Wimpey and a disappointing one from Ashtead. At 0818, the benchmark FTSE 100 index was up 8.15 points, or 0.1%, at 6,596.68. Engineering group Renishaw rallied 12% to £64.90 after it put itself up for sale following a decision by founders and major shareholders David McMurtry and John Deer to sell their stakes in the company. McMurtry and Deer, who were Renishaw's chairman and deputy chairman, ...

Renishaw Plc Commences Formal Sale Process LONDON (dpa-AFX) - Renishaw plc (RSW.L) said its founders Sir David McMurtry and John Deer, Executive Chairman and Non-Executive Deputy Chairman, respectively have indicated to the Board their intention to sell their very substantial shareholdings in Renishaw. Together, the Founders, and certain persons connected with them, own about 53% of the issued share capital of the company and have expressed a preference for the disposal of their entire combined shareholding, the company stated. Further, the company noted that the Board has considered various...