Melrose says everything's fine in very short update

The board of Melrose Industries released a trading statement so short it could fit into two tweets on Wednesday, in an apparent bid to reassure investors that everything was chugging along nicely.

It said current trading in 2016 is in line with expectations, with Brush performing “satisfactorily”.

“The Melrose board continues to seek an acquisition which will create value for shareholders and it remains confident of finding the right opportunity in due course,” the board concluded.

Investors seemed to appreciate the time-efficient update, with shares in Melrose up 1% at 1210 BST, at 388.5p.