FTSE 100 today: latest UK stock market news

Compare and contrast the fortunes of two of London’s leading listed engineering companies. TI Fluid Systems, the car parts manufacturer, was the second-biggest riser in the FTSE 250 on the back of a takeover bid. TT Electronics, whose products are used in sectors from healthcare to aerospace, lost almost a third of its value after a profit warning.

News that TI Fluid Systems had rejected a second takeover bid from ABC Technologies, a Canadian car parts supplier, sent the shares up 20½p, or 14.1 per cent, to close at 166½p.

The ABC Technologies bid valued the company at 176p per share, an improvement on its previous offer of 165p per share and a premium of 20.7 per cent to TI Fluid Systems’ closing share price