n The second best-performing stock was the Energy Group, which rose 5.5 per cent. The electricity industry regulator announced that electricity companies will be able to charge their customers between a third and a half of what it costs utilities to open their system to national competition. These proposals are more generous than the regulator's original proposal in September 1996.
n The worst-performing stock on the FT-SE last week was Glaxo, which fell 7.1 per cent. The company said at its AGM that the strength of the pound could cut as much as 5 per cent from its profits this year. Although in volume terms, sales rose 10 per cent in the first quarter, the figures were unchanged when translated into sterling.
Copyright: IOS & BloombergReuse content