Little movement for Boeing or Airbus, UBS cuts Rolls Royce outlook, NIIT surges – Share Wrap
Boeing and Airbus parent EADS had relatively modest movements yesterday, with Boeing losing just 0.1% to its share price, while EADS gained 1.0%. Rolls Royce fell 1%, after UBS cut its rating on the engine manufacturer from 'neutral' to 'sell' yesterday, citing Airbus' decision to cut A380 production levels, US dollar exchange rate weakness and a downward revision to its pension finance charge.
Babcock & Brown posted a 5.2% increase, after news of the sale of its management rights and a shareholding in a USD1.9 billion unlisted investment fund, for an undisclosed amount.
MTU Aero engines was up 4.3%, after strong gains yesterday on the announcement that EADC Technologies has signed a contract to purchase the manufacturing unit assets of its North American units. The company also officially inaugurated its MTU Aero Engines Polska unit, after operations commenced in Apr-2009.
NIIT Technologies soars
The Centre adds NIIT Technologies to its daily share price wrap today. The company provides IT solutions for the banking & finance, insurance and travel, transportation and logistics sectors. Shares rose 8.8% yesterday, after a 9.5% rise on 18-May-2009, following an announcement that its board will consider and recommend dividend levels for FY2008/09 at a meeting later in the month.
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Selected aviation suppliers' daily share price movements (% change): 20-May-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance