The second best-performing stock of the week was GEC, which rose 12.6 per cent on renewed speculation about a merger with British Aerospace. In addition the company announced it is cutting 535 jobs, half the workforce, at its factory which manufactures civil and defence radio equipment. This follows a decline in military orders.
The worst-performing stock last week was Rank Group, which fell 14.2 per cent after the company said tepid performances at most of its leisure and entertainment businesses restrained sales growth excluding acquisitions to 1 per cent, in the first five months of the year. Copyright: IOS & BloombergReuse content