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“FTSE indices were in negative territory in early trading following lower sessions on Wall Street on Friday and in Asia this morning,” says AJ Bell Investment Director Russ Mould.
“Urban regeneration group MJ Gleeson’s twin track strategy of developing low cost homes for open market sale in the North of England and strategic land sales in the South is going from strength to strength with first half revenues up by nearly 21% and pre-tax profits rising by 63%. The group has now started rolling out its distinctive business model across a wider geographic area. The potential number of purchasers of Gleeson Homes in this wider area is three times the comparable figure within its current market.
“Egdon Resources was an early riser after an independent report confirmed the viability of the Wressle oil field in Lincolnshire and the nearby Broughton North field as a low-risk prospect. Egdon is seeking planning and permit approvals but expects production from Wressle -1 to start early next year. Egdon’s shares were up by more than 5.3% in early trading.
“Oil services group Lamprell’s shares rose after the group clinched a $90m contract with Jacktel for the upgrade of the mobile operating unit 'Haven' as an accommodation service vessel for Statoil’s Johan Sverdrup field, offshore Norway. Jacktel is part of Master Marine which is a new client for Lamprell. The works will be carried out in Lamprell’s Hamriyah yard in the United Arab Emirates and are scheduled to complete in the second quarter of 2018. Lamprell’s shares were up by over 4.3%.”
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