MARKET WATCH: All eyes on medical scanner maker Gooch & Housego as it shrugs off Trump tariff fears

Gooch & Housego Shares Surge Amid Tariff Reassurance

Shares in Gooch & Housego experienced a significant jump, climbing 7.8 percent, or 29p, to 399p, after the company minimized concerns regarding the possible effects of US tariffs on its operations. The medical device manufacturer, headquartered in Somerset, clarified that its exposure to regions heavily impacted by recent tariff measures was ‘limited’.

Company Statement on US Tariff Impact

Limited Exposure to Severe Tariff Measures

The Somerset-based firm, specializing in medical eye scanners and operating five facilities in the United States, stated its vulnerability to countries facing the harshest tariff impositions was ‘limited’. This announcement provided reassurance to investors, triggering the surge in share value.

Proactive Measures to Secure Raw Materials

Gooch & Housego further indicated that it is ‘actively’ seeking alternative sources for raw materials. This strategic move aims to mitigate potential repercussions from retaliatory levies imposed by other nations, demonstrating a proactive approach to navigating the evolving global trade landscape.

Potential Benefits from US Manufacturing Presence

Moreover, the company highlighted that its ‘substantial US-based manufacturing presence’ could, in time, yield advantages from the tariffs. With manufacturing sites within the US, Gooch & Housego anticipates reduced competition from international rivals, potentially boosting its domestic business segments.

London Market Recovers After Global Stock Sell-Off

FTSE 100 and FTSE 250 Show Strong Rebound

This positive company update coincided with a broader recovery in the London market, following a notable sell-off in global equities. After a sharp decline on Monday, the FTSE 100 index demonstrated resilience, rebounding by 2.7 percent, or 208.45 points, to reach 7910.53. This resurgence partially offset prior losses incurred due to concerns surrounding Donald Trump’s tariff policies. Similarly, the FTSE 250 index recorded a substantial increase of 3.3 percent, or 583.96 points, climbing to 18,349.15.

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Oil Prices Edge Higher

In related market activity, oil prices also trended upwards. The benchmark Brent crude oil price increased by 0.3 percent, trading at nearly $64.43 per barrel, indicating a degree of stabilization in commodity markets alongside the equity market recovery.

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