Ticker COB

Today's data summary

Market open
% change
Price Pence
As of 16:20 22 Jan 2019
Market cap. Pound sterling
2,572.73 million
As of 16:20 22 Jan 2019

Latest updates

Revived Smith & Nephew leads FTSE 100

Knee replacement surgery
Getty Images

Orthopaedics group Smith & Nephew is leading the FTSE 100 in early trading after it said that its "established markets" business in areas such as hip and knee implants had improved.

Its share price is up 3.8% at £13.73.

SSE, however, is the morning's biggest faller, down 3.8% to £13.73.

The FTSE 100 gave up early gains to trade 3.02 points lower at 7,655.24.

Engineered ceramics group Vesuvius is the biggest gainer on the FTSE 250, up 9.6% to 639.5p after reporting strong growth in interim revenues.

Aerospace firm Cobham is the biggest faller, down 8.6% at 120.30p followed by shopping centre group Intu whose stock dropped 5.5% to 170p after it announced that its chief executive David Fischel is leaving.

The FTSE 250 is up 4.72 points at 20,758.32.

Cobham shares dive on Boeing row

In flight refuelling

Shares in aerospace firm Cobham have plunged almost 10%.

That's after Cobham said that one of its most important customers, Boeing, is witholding payment related to Cobham's work on the KC-46 aerial tanker aircraft.

Cobham makes the system which pumps fuel through a hose extended from the wing of the tanker aircraft (see above).

The KC-46 project has caused Boeing a lot of grief and yesterday the US defence giant said there had been another $418m in cost overruns.

Boeing is also pursuing Cobham for damages, although has not said how much.

Cobham expects around £40m in extra costs to complete its work on the KC-46.