Market Report: Taking Stock

Click to follow
The Independent Online
Belgo, the mussels and beer restaurant business with just two outlets, received an enthusiastic reception. In heavy trading, with Seaq putting volume at nearly 56 million, the shares closed at 6.5p, in effect a gain of 3.5p. The restaurant operation was pumped into a loss-making property group, Lonsdale Holdings. The deal was handled by entrepreneur Luke Johnson, famed for using a struggling computer group as the vehicle to bring PizzaExpress to market.

Banner Homes, the house builder, held at 97p. Charterhouse Tilney forecast a pounds 3.2m profit jump to pounds 5m this year, putting the shares on a prospective p/e ratio of only 4, which it describes as "completely anomalous".

A unitisation proposal lifted the shares of Baring Stratton Investment, an obscure investment trust, 50p to 329p, a peak.