OVER on AIM, hotel minnow Peel Hotels added 7p to 97.5p. The project, which owns the Bull Hotel in Peterborough, has had a better reception than the last time Robert Peel ventured on to the stock market as chief executive of Thistle Hotels. There he was forced out by institutional shareholders after a disappointing share price performance following flotation. But shares in Peel Hotels have risen by 60 per cent since coming to the market at 60.5p a week ago.Reuse content
SHIRE Pharmaceuticals, marketing and licensing prescription drugs, lifted the recent gloom over the biotech sector with a 45.5p rise to 409p. Shire cleared a stock overhang by completing a global share offering which included listing on Nasdaq, the US market for hi-tech stocks. Shire offered 21 million shares at 343p, raising pounds 72m. In the past year, the shares have soared by close to 90 per cent.