Market Report: Taking Stock

Cortecs International, the biotech group, should move its domicile from Australia to Britain by late November. The switch should help the shares. They have suffered because some domestic funds are not allowed to invest in overseas stocks. Indeed, Cortecs was hit by sudden selling by a fund which acquired the shares in the mistaken belief Cortecs was British registered. The move to PLC status may also make the shares eligible for PEPs. The price firmed 2p to 175.5p.

Vocalis, a voice recognition group, recorded a 12p gain to 69.5p following a pounds 3m contract with Ericsson. It is its fourth deal with the Swedish group. The shares arrived last year at 95p and went to 123p but, before the Ericsson deal, were around their low point.

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