Market Report: Taking Stock

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The Independent Online
From 84.5p last month Fibernet, a blue-sky digital network group, has risen to 143.5p. NatWest Securities contributed to the advance. The analyst Mike Williams is enthusiastic about the fledgling group and sees its national network making pounds 17m in 1999. Like many AIM companies Fibernet failed to live up to flotation hopes. Before the setback the shares were 184.5p.

Hopes Ilion's year's figures will be a shade firmer than indicated in November's profits warning lifted the shares 16.5p to 155p. The group said profits would be around pounds 6.5m against hopes of pounds 8m. Last spring the shares were more than 400p.

Black Arrow, the office furniture group, is thought to be trading well. The shares, up 11.5p, are riding at a 114p peak. In some quarters there is a sneaking suspicion the long rumoured take over bid could be near.