Market Report: Stocks

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.