Market Report: Taking Stock

Planned takeover of Sibir Energy by its largest shareholder, Pentex, has been put back. The delay is due to Sibir's acquisition of a 20 per cent stake in a company developing oil fields in western Siberia. Pentex floated Sibir, unchanged at 35.5p, as a vehicle for its oil interests in the former Soviet Union.

Rebus, the computer services group spun off from insurance broker CE Heath is belatedly catching up with the IT re-rating, firming 4.5p to 108.5p. One investment house has a 150p year-end target, arguing the price would be 250p on US valuations.

Colin Blackbourn, a stockbroker with a knack of picking winners, has taken a 3.1 per cent stake in Tadpole Technology, one of the walking wounded. The shares rose 2.5p to 13p - they were once 408.5p.