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Highlights
- The manufacturing output in the United Kingdom picked up slightly in December 2021 as per the revised Manufacturing PMI reading by the IHS Markit/CIPS.
- The higher reading points to the further growth in production, employment, and new orders in the manufacturing industry.
The manufacturing output in the United Kingdom picked up slightly in December 2021 as per the revised Manufacturing PMI reading by the IHS Markit/CIPS. The final reading stood at 57.9, up from 57.6, and close to the 58.1 reading reported in November 2021, a three-month high manufacturing output.
The higher reading points to the further growth in production, employment, and new orders in the manufacturing industry. The inflationary pressure witnessed by the sector eased to some extent during the period. However, the price charged by factories remained at a record high.
The survey showed many businesses have an optimistic future outlook because of global economic recovery, planned investment, and anticipations of less damage to production output due to supply chain constraints and Brexit, and the new variant of the Covid-19.
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Let us look at FTSE listed manufacturing stocks to invest amid upbeat industry outlook:
IMI Plc (LON: IMI)
FTSE250 listed company is into the business of the design and manufacturing of engineering products. It operates through three divisions offering flow control solutions, pressure switches and many other products.
The company recently completed the acquisition of Adaptas Solutions for an enterprise value of USD 271 million. The acquired company will become part of the IMI’s Precision Fluid business unit and will help expand the product portfolio further into the Life Science segment.
IMI Plc closed at GBX 1,784, up by 2.76% on 04 January 2022, with a market cap of £4,525 million.
Rolls-Royce Holdings Plc (LON: RR.)
The aircraft engine maker operates in multiple industry segments, including defence, power system, aerospace, etc.
The company’s stock saw a positive buying interest after it announced the sales completion of Bergen Engines business. The transaction will give sales proceeds of €91 million, which will help the company strengthen its balance sheet and return to investment grade trading profile.
Rolls-Royce Holdings Plc closed at GBX 127.08, up by 3.42% on 04 January 2022, with a market cap of £10,282 million.
Spirax-Sarco Engineering Plc (LON:SPX)
The company provides commercial and industrial steam system solutions to its clients. It serves clients from various industries like beverage, biotechnology, chemical, and other industries.
The company’s business continues to expand amid global economic recovery after the Covid-19 pandemic. The order book is currently at a record high in the four months to 31 October 2021. However, material shortage due to supply chain constraints and rising input costs has slightly impacted business. As a result, the company revised its full-year forecast lower for 2022 to 4.3% from 5%.
Spirax-Sarco Engineering Plc closed at GBX 15,995, down by 0.34% on 04 January 2022, with a market cap of £11,814 million.
