Shares: Taking Stock

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The Independent Online
r The nil-paid convertible units of Ibstock, the brick group, rose 2.5p to 6p, a peak, on hopes the proposed acquisition of Redland's brick business will not be blocked by Whitehall. The convertibles are probably the biggest punt in the market, offering the right to buy a share at 55p against the current price of 67p. Most observers believe if Ibstock's deal goes through, making it Britain's biggest brick maker, its shares should quickly pull away from 67p.

r Independent Energy, selling electricity to business users, could enjoy a significant premium when dealings start today. Placed at 100p the shares could head towards 120p. The pounds 3.2m raised through the placing, by stockbroker Peel Hunt, will be used to expand its marketing and sales muscle.

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