Market Report: TAKING STOCK

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The Independent Online
rIs the American love-in with JD Wetherspoon, the highly-rated pubs chain, coming to an end? A US investment group has been an avid Wetherspoon follower, helping to drive the shares to a peak of 1,053p. But in recent weeks there has been talk of US disenchantment and although there is no evidence of US selling the shares have fallen; they lost a further 51p to 895p.

rMedeva, bumping along at 238p, should lift profits to pounds 103.5m this year from pounds 79m, say Societe Generale Strauss Turnbull.

Analysts Paul Diggle and Alyson Coates are impressed by the acquisition of the US Rochester group. They are looking for profits to move further ahead to pounds 134m next year and regard the shares a buy.

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