Market Report: Bus and train companies motor ahead

BUS AND TRAIN shares got up speed as the stock market pondered the possible benefits that could emerge from the Government's transport policy.

A White Paper is due in the next few weeks. It will point to greater promotion of public transport at the expense of the motor car.

In anticipation of Government moves, transport shares have already enjoyed exuberant runs in the past year, outperforming the rest of the market.

FirstGroup led the latest march with an 18.5p gain to 427p. Not far behind was Stagecoach, up 31p to 1,266p. National Express put on 22.5p to 1,079.5p and Railtrack 18.5p to 1,182p. Stagecoach is one of the best performing transport shares; it arrived at 112p five years ago.

IT shares, ahead of ComputaCenter's arrival, again put on a power display with FI up 145p to 1,500p and Misys strengthening its Footsie claims with a 220p gain to 3,570p.

The three leading indices made headway. Footsie ended 29.6 points higher at 5,907.4. At one time was up 63.4. The mid and small cap indices moved confidently to new peaks.

Nycomed Amersham, the medical group, had the unusual distinction of topping both the blue chip winners and losers boards.

The non-voters jumped 109p to 2,100p while the voting shares fell 87p to 2,007p. For once it was not a distortion created by order-driven trading. As part of a capital reconstruction the two-tier system is being abolished with all shares given equal votes. The disparity between the two prices merely acknowledged the changes.

Figures lifted Carlton Communications 23p to 517p and Compass, the caterer, continued to digest its results as well as takeover possibilities with a 46p rise to 1,186p.

For the second day running financials clawed their way back as investors took the view they had been over-sold. Norwich Union, Schroders and Woolwich were among those in form although National Westminster Bank missed out, falling 19p to 1112p.

Mirror, the newspaper group, was the day's hot takeover tip. The shares jumped 6.5p to 207p on suggestions of a German offer at around 260p. The group is also talking to analysts this week.

Shell was soft, off 3.25p at 448.25p. An uninspiring investment presentation in Holland was blamed.

TI's take over strike at EIS prompted a revaluation of other engineering groups. Weir, 19p at 278.5p, and IMI, 15p to 524p, were among those to benefit. Engineer UPF jumped 26p to 105p as a possible bidder appeared. Babcock International, firm this month, put on another 1p to 92p.

The VideoLogic Sega saga continued as shares of the 3D graphics company moved ahead 5p to 85p on renewed talk that the Japanese Sega giant will confirm its use of VideoLogic's second-generation PowerVR 3D technology today.

Millennium & Copthorne, the hotel chain, fell 22.5p to 594.5p. Hong Leong Investments, the Far Eastern group, duly confirmed it had trimmed its stake, selling 3.75 million shares. It now has 52.54 per cent and says it intends to remain the controlling shareholder. Hotelier Cliveden, where bid talks are under way, firmed 2p to 92p in brisk trading.

House of Fraser, the department store chain, added 9p to 192.5p on US investment presentations.

The Falkland Islands produced its own market explosion. Desire Petroleum's cautious statement about oil and gas shows in drillings off the islands provoked a stampede of interest with the shares gushing 96.5p to 305.5p. They arrived at 125p last month. Greenwich Resources and Westmount, with stakes in Desire were buoyant; Greenwich gained 5.25p to 28.75p and Westmount 33p to 190p. The excitement rubbed off on to the Falkland Islands company, up 28p at 176.5p. Its supply operations could benefit from any big South Atlantic strike. Cambridge Mineral Resources, with onshore exploration projects on the islands, firmed 0.25p to 12.25p.

Bid target Jeyes, the disinfectant group. hardened 8.5p to 265p as the Framlington investment group, clearly expecting an offer higher than the market price, picked up a 1.46 per cent stake.

Ambient Media and Eskmuir Properties made quiet debuts; Ambient, placed at 90p, closed at 92.5p and Eskmuir ended at 225p from a 220p placing.

On Ofex, Conroy Diamonds and Gold, run by Professor Richard Conroy, who found Ireland's Galmoy zinc mine, fell 2p to 67.5p. It raised pounds 510,000 through a private placing at 60p a share. The company believes it has discovered Ireland's first major gold mine in County Monahan.

Suggested Topics
News
peopleHowards' Way actress, and former mistress of Jeffrey Archer, was 60
Sport
Romelu Lukaku puts pen to paper
sport
News
Robyn Lawley
people
Arts and Entertainment
Unhappy days: Resistance spy turned Nobel prize winner Samuel Beckett
books
PROMOTED VIDEO
News
people
Life and Style
Troy Baker and Ashley Johnson voice the show’s heroes
gamingOnce stilted and melodramatic, Hollywood is giving acting in video games a makeover
News
i100
Life and Style
Phones will be able to monitor your health, from blood pressure to heart rate, and even book a doctor’s appointment for you
techCould our smartphones soon be diagnosing diseases via Health Kit and Google Fit?
News
people
Extras
indybest
Travel
Ryan taming: the Celtic Tiger carrier has been trying to improve its image
travelRyanair has turned on the 'charm offensive' but can we learn to love the cut-price carrier again?
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Sport
Usain Bolt confirms he will run in both the heats and the finals of the men's relay at the Commonwealth Games
commonwealth games
Life and Style
Slim pickings: Spanx premium denim collection
fashionBillionaire founder of Spanx launches range of jeans that offers 'thigh-trimming construction'
News
Sabina Altynbekova has said she wants to be famous for playing volleyball, not her looks
people
News
i100
Life and Style
tech'World's first man-made leaves' could use photosynthesis to help astronauts breathe
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Senior Investment Accounting Change Manager

£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...

BA/PM,EMIR/Dodd-Frank,London,£450-650P/D

£450 - £650 per day + competitive: Orgtel: My client, a leading bank, is curre...

Senior Analyst - ALM Data - Banking - Halifax

£350 - £400 per day + competitive: Orgtel: Senior Analyst, ALM Data, Halifax, ...

Java developer - Banking - London - Up to £600/day

£500 - £600 per day: Orgtel: Java developer - Banking - London - Up to £600/d...

Day In a Page

Save the tiger: The day America’s love of backyard tigers led to a horrific bloodbath

The day America’s love of backyard tigers led to a horrific bloodbath

With only six per cent of the US population of these amazing big cats held in zoos, the Zanesville incident in 2011 was inevitable
Samuel Beckett's biographer reveals secrets of the writer's time as a French Resistance spy

How Samuel Beckett became a French Resistance spy

As this year's Samuel Beckett festival opens in Enniskillen, James Knowlson, recalls how the Irish writer risked his life for liberty and narrowly escaped capture by the Gestapo
We will remember them: relatives still honour those who fought in the Great War

We will remember them

Relatives still honour those who fought in the Great War
Star Wars Episode VII is being shot on film - and now Kodak is launching a last-ditch bid to keep celluloid alive

Kodak's last-ditch bid to keep celluloid alive

Director J J Abrams and a few digital refuseniks shoot movies on film. Simon Usborne wonders what the fuss is about
Once stilted and melodramatic, Hollywood is giving acting in video games a makeover

Acting in video games gets a makeover

David Crookes meets two of the genre's most popular voices
Could our smartphones soon be diagnosing diseases via Health Kit and Google Fit?

Could smartphones soon be diagnosing diseases?

Health Kit and Google Fit have been described as "the beginning of a health revolution"
Ryanair has turned on the 'charm offensive' but can we learn to love the cut-price carrier again?

Can we learn to love Ryanair again?

Four recent travellers give their verdicts on the carrier's improved customer service
Billionaire founder of Spanx launches range of jeans that offers

Spanx launches range of jeans

The jeans come in two styles, multiple cuts and three washes and will go on sale in the UK in October
10 best over-ear headphones

Aural pleasure: 10 best over-ear headphones

Listen to your favourite tracks with this selection, offering everything from lambskin earmuffs to stainless steel
Commonwealth Games 2014: David Millar ready to serve up gold for his beloved Scotland in the end

Commonwealth Games

David Millar ready to serve up gold for his beloved Scotland in the end
UCI Mountain Bike World Cup 2014: Downhill all the way to the top for the Atherton siblings

UCI Mountain Bike World Cup

Downhill all the way to the top for the Atherton siblings
Save the tiger: The animals bred for bones on China’s tiger farms

The animals bred for bones on China’s tiger farms

The big cats kept in captivity to perform for paying audiences and then, when dead, their bodies used to fortify wine
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK

A former custard factory, a Midlands bog and a Leeds cemetery

Introducing the top 50 hidden spots in Britain
Ebola epidemic: Plagued by fear

Ebola epidemic: Plagued by fear

How a disease that has claimed fewer than 2,000 victims in its history has earned a place in the darkest corner of the public's imagination
Chris Pratt: From 'Parks and Recreation' to 'Guardians of the Galaxy'

From 'Parks and Recreation' to 'Guardians of the Galaxy'

He was homeless in Hawaii when he got his big break. Now the comic actor Chris Pratt is Hollywood's new favourite action star