- Smith & Nephew director snaps up shares after strong first quarter results

- London Stock Exchange director buys more than £1 million worth of shares

- Dowlais directors go on a spending spree

Rupert Soames, non-executive director medical equipment manufacturer Smith & Nephew (SN.), has snapped up more than £100,000 worth of shares in the wake of its recent first quarter update.

On 27 April Soames bought 9,040 shares at £12.94 for a total of £117,015. 

The purchase came after the company reported a 3.8% rise in first quarter revenue to $1.36 billion to 31 March 2023. The Sports Medicine and Advanced Wound Management business performance was particularly strong rising 10%. Smith & Nephew also held its guidance for 2023.

LSEG DIRECTOR BUYS OVE £1 MILLION SHARES

Martin Brand, non-executive director (NED) at London Stock Exchange Group (LSEG), bought 13,585 shares at £80.02 on 27 April. A trade which added up to a total value of £1.09 million.

Brand has been busy of late, as it follows his sale of 32,702 shares between 11 April and 13 April for a total consideration of £2.6 million as part of the company’s share repurchase programme.

The company delivered a strong set of results at the beginning of March. London Stock Exchange announced it was raising its dividend off the back of these results

DOWLAIS DIRECTORS GO ON A SPENDING SPREE

Chief financial officer Roberto Fioroni and CEO Liam Butterworth of specialist engineering group Dowlais (DWL) have gone on a spending spree.

On 25 April, Fioroni bought 271, 410 shares at 122p for a total of £332,238 and Butterworth bought 775,459 shares at 122p for a total of £949,253 on the same day.

Dowlais is the newly formed standalone company comprising of GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen.

Shares in Dowlais have fallen as much as 20% recently as the spin-off from Melrose (MRO), which retains the GKN Aerospace business, has failed to capture investors’ imagination.

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