Aircraft manufacturers finish week down
Trading on Friday saw most aerospace stocks close lower, with Bombardier down 2.4%, EADS down 2% and Embraer giving up 1.9%. Russia’s United Aircraft Corporation was flat, while Boeing shares continued the positive signs seen since the end of Jan-2011, with the stock finishing the week up 0.6%.
Elsewhere, aerospace and defence company, BAE Systems, shares went up 2.2% on Friday. The company announced last week that it place 52 aircraft in 2010, compared to 44 in 2009, and has won an number of remarking mandates for aircraft. BAE has won a number of commercial and military contracts recently, although its military business is threatened by defence spending cuts in the UK and US.
MTU Aero Engines and Rolls-Royce were both stronger, but French aerospace and engine supplier Safran was down 1.1%. Safran recently moved closer to acquiring L-1 Identity Solutions, following a vote by L-1 stockholders approving the acquisition last week.
Selected original equipment manufacturers' share price movements: (% change): 04-Feb-2011