Galliford Try/Bovis, Dart and Firestone Diamonds

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“The FTSE100 was up in early trading following the minor gains made on Wall Street and ahead of ahead of a raft of UK, European and US services purchasing-managers' index data,” says AJ Bell Investment Director Russ Mould.

“Housebuilders Galliford Try and Bovis both benefited from the end of their talks over a possible merger with investors agreeing that being bigger is not necessarily beautiful. Both groups believe they have strong futures without the other and Bovis will be drawing on some deep-seated Galliford Try experience after appointing its suitor’s former boss, Greg Fitzgerald, as its new chief executive. Fitzgerald spent 35 years at Galliford Try and the Bovis board believes the group will bring greater value for shareholders under his leadership rather than tying the knot with his former company. Galliford Try’s shares were up by 1.5% in early trading while Bovis was up by over 2.6%.

“Leisure travel and distribution and logistics group Dart was the biggest AIM riser after it confirmed that full-year underlying pre-tax profits would be ahead of market forecasts due to lower than anticipated winter losses. Forward bookings for this summer are satisfactory and while it is still early in the leisure travel booking cycle, the group is on track following the successful launch of its new operating bases at London Stansted and Birmingham airports. Dart’s shares were up by more than 3.3%.

Firestone Diamonds’ shares sparkled in early trading after it recovered its largest diamond so far at its Liqhobong mine in Lesotho. The 110 carat gem-quality light yellow diamond was recovered during the mine’s ramp-up phase and confirms that Liqhobong has large stone potential. Firestone’s shares were up by over 5%.”

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