Halma acquires Canadian underwater robot maker, National Grid FY EPS seen slightly ahead of forecasts

London pre-open

The FTSE 100 was being called to open 25.2 points higher ahead of the bell on Thursday after ending the previous session just 0.05% firmer at 7,580.80.

Stocks to watch

Technology group Halma said on Thursday that it had bought Canadian underwater robot maker Deep Trekker for CAD $60.0m (£36.0m).

Headquartered in Ontario, Canada, Deep Trekker makes remotely operated underwater robots used for inspection, surveying, analysis and maintenance. It serves markets including aquaculture, renewable energy and ocean science and research.

National Grid expects annual earnings per share to be slightly better than earlier estimates as a higher tax rate partly offset above-guidance profit in the UK.

Underlying operating profits were primarily seen higher as its UK electricity transmission and distribution operations benefited from higher inflation.

Electronics manufacturer DiscoverIE said on Thursday that trading in the final two months of the year continued to be strong, with the group now expecting to deliver full-year underlying earnings from continuing operations ahead of previous guidance.

Group orders for the year were well ahead of sales, growing organically by 36% year-on-year and 32% when compared to two years ago, while DiscoverIE's period-end order book of £224.0m was a new record level and 62% higher organically than a year ago.

Newspaper round-up

Holidaymakers trying to get away for the Easter weekend have been warned they are likely to face disruption whether travelling by air, rail, road or sea. Staff sickness and a shortage of workers have already caused multiple days of chaos for air passengers, with carriers cancelling dozens of flights at short notice, while ferry operators have struggled to meet demand as P&O Ferries services remain suspended. - Guardian

Rich countries need to provide emergency food supplies to prevent rising prices and shortages triggering social unrest in poorer parts of the world, the heads of four major international bodies have said. Calling for urgent and coordinated action, the World Bank, the UN World Food Programme, the World Trade Organization and the International Monetary Fund warned that the food crisis was pushing millions of people into poverty. - Guardian

National Grid may have to pay power generators to turn down their supply during the Queen's Platinum Jubilee celebrations as the public stops work and heads outside for street parties. Its division responsible for keeping the lights on is expecting power demand in Britain to dip to its lowest annual level during the four-day weekend created to mark the occasion, from June 2-5. - Telegraph

One of Britain's biggest train companies has been threatened with strike action after giving new "see-through" uniforms to its staff. Avanti West Coast has been accused by the RMT union of making workers wear "flimsy new blouses and shirts [...] which are basically transparent". A source said that employees are considering strike action. - Telegraph

Messages between Essex-based oil traders said to have made more than $700.0m from the 2020 oil price crash provide a "highly plausible inference" that they collectively moved to depress prices, a judge in the United States has ruled. Texts exchanged on April 20, 2020 — the day the US oil price collapsed below zero for the first time — prompted Gary Feinerman, a district court judge in Illinois, to rule that a class-action lawsuit could proceed against eight traders. - The Times

US close

Wall Street stocks closed in positive territory on Wednesday as market participants shrugged off some red hot inflation reports.

At the close, the Dow Jones Industrial Average was up 1.01% at 34,564.59, while the S&P 500 added 1.12% to 4,446.59, and the Nasdaq Composite saw out the session 2.03% firmer at 13,643.59.