MARKET WATCH: All eyes on medical scanner maker Gooch & Housego as it shrugs off Trump tariff fears
Gooch & Housego soared 7.8 per cent, or 29p, to 399p after it downplayed the potential impact of US tariffs on its business.
The Somerset-based maker of medical eye scanners, which has five sites in the US, said its exposure to countries that had been hit by the most severe tariff measures was ‘limited’.
The firm said it was ‘actively’ looking for new sources of raw materials to avoid retaliatory levies from other nations.
It also said its ‘considerable US-based manufacturing presence’ meant the American parts of its business could benefit from the tariffs over time as its factories faced less competition from rivals outside the country.
The update came as the wider London market mounted a recovery from a sharp sell-off in global stocks. After plunging on Monday, the FTSE 100 rebounded, rising 2.7 per cent, or 208.45 points, to 7910.53 – recouping some of its losses amid the fallout over
Donald Trump’s tariff measures. The FTSE 250 rose 3.3 per cent, or 583.96 points, to 18,349.15. Oil prices also rose, with the benchmark Brent crude up 0.3 per cent at nearly $64.43 a barrel.
'Limited' exposure: Gooch & Housego's Science Innovation Hub in Rochester, New York. The Somerset-based firm has five sites in the US
Share this article
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
Comments 0
Share what you think
No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.
We are no longer accepting comments on this article.
