Manufacturer’s shares spike for second time in a week

Shares in Chamberlin spiked for the second time in a week yesterday, despite the stock market having its worst day for two months.

The engineering group’s share price rose 18% to 144.5p to set a new four-year high.

Chamberlin’s shares are now trading 38% above its close on April 10, before the Walsall-based specialist castings group revealed an upbeat trading performance and expectations that its uunderlying profitability would be ahead of the previous year.

It continues a long upward trend since July 2016, when its shares were trading just above 50p.