Market Report: Stocks

Click to follow
The Independent Online
TROUBLED Regent Inns, which once nursed takeover ambitions towards the rival SFI pubs chain, rose 8p to 160p as its former target disclosed that it had built a 3 per cent stake. SFI, formerly Surrey Free Inns, describes its holding as an "attractive investment". The market believes SFI is nursing hopes of buying Regent, which has been hit by a profits warning. Earlier this year Regent shares were riding at nearly 390p. SFI shaded to 150p.

RUBICON, an engineer which has collected a pounds 207m American bid, was actively traded. The shares held at 230p against a 235p offer price. There was uncertainty as to whether the bidder, Applied Power, was in the market to buy or, perhaps, whether a rival bidder lurked. Turnover in Rubicon shares, according to Seaq, was nearly 17.5 million, with deals of 8.7 million and 5.7 million shares swelling the volume.