Market Report: Taking Stock

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The Independent Online
St James Beach Hotels rose 9.5p to 191p, a 12-month high. There is talk of corporate action. One suggestion is that the Horney family's controlling stake is about to be sold. Rumoured price is 230p.

The company runs hotels in Barbados. It came to market three years ago at 120p. Butterfield, the company's stockbroker, estimates profits in the year ended last month were pounds 4m against pounds 1.2m.

Stand by for action at Raine, the building group. In busy trading the shares rose 1.25p to 17.5p with a string of delayed trades going through. The group has had a difficult time recently, slumping pounds 101.8m into the red in 1995. Last year it achieved a pounds 572,000 profit. The shares were 137p four years ago.

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