Market Report: Taking Stock

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The Independent Online
IAF, with interests ranging from aircraft to properties in Kiev, held at 112p. Stockbroker Greig Middleton believes the shares are cheap. The analyst Richard Andrews forecasts profits of pounds 3.6m this year with pounds 4.1m next. The company has nine aircraft which are leased to airlines. Its properties in Kiev have the likes of BAT Industries, BP and Deloitte & Touche as tenants.

Pex, the struggling sock maker, slipped to 2.75p after confirming a pounds 1m cash call. It is making a one-for-four rights issue at 3p and buying Sockwise, which is in receivership.

Dealings are due to start on Ofex today in Supreme Plastics. The shares were placed at 65p to raise pounds 266,000, capitalising the company at pounds 6.8m.

Utility Cable, responsible for laying many of the nation's television cables, is thought to be negotiating a deal with Energis. UC shares rose 1.25p to 6.75p; Energis was up 64p to 516.5p.