The Energy Group, the Anglo-American coal-mining and electricity company which was recently demerged from Hanson, was the second-best performing share last week, gaining 9 per cent. The company is buying US-based Citizens Lehman Power, which arranges power sales between utilities, for $120m. It unveiled its strategy for the future to analysts last week.
Hanson, the rump of the former conglomerate comprising the building materials business, was the worst performer on the FT-SE 100, falling 5.4 per cent. The company announced its first US acquisition on 20 March of a concrete pipes company, but investors and analysts are keen to see the company prove itself in the post-demerger world before favouring the stock. Copyright: IOS & BloombergReuse content