Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
“Equities were in positive territory with investors showing increased confidence in the economy following data showing an expanding UK service sector and Brent crude oil hitting the $50 per barrel mark,” says AJ Bell Investment Director Russ Mould.
“A small improvement in sentiment among the UK’s service industry provides some grounds for believing the nation’s economy is not stalling but the widening gap between services and manufacturing suggests Chancellor of the Exchequer George Osborne has a long way to go if he is to realise his ambition of rebalancing how Britain generates its output.
“Eland Oil & Gas’s shares slumped on reports of continued security incidents in the Niger Delta. Eland moved to allay jitters noting what it described as ‘unsubstantiated press speculation’ and insisting it was not aware of any incidents on its properties and that maintenance and operational activity remains unaffected. Investors took a ‘no smoke without fire’ stance and Eland’s shares were down by over 14% in lunchtime trading.
“Laboratory services and products provider Source BioScience’s shares soared after Continental Investment Partners and Harwood Capital confirmed they were preparing a possible offer at 18p per share. Clients advised by Continental currently own around 7.29% of Source BioScience while funds either managed or advised by Harwood Capital hold a 23.62% stake. Continental and Harwood Capital also have a letter of intent to accept a possible offer from Alphagen Capital, which holds nearly 20%. Source BioScience’s share price was up by nearly 16% in early afternoon trading at 17.25p.
“Alpha Pyrenees Trust has confirmed that the sale of its remaining property assets will not result in any return to ordinary shareholders. The trust has three properties in France and three in Spain and while they are well located they suffer from weak tenant demand and high vacancy levels. Its shares were down by 25% at lunchtime.”
These articles are for information purposes only and are not a personal recommendation or advice.