Market Report: Hyder Consulting sold to Dutch building designer Arcadis


One construction deal collapses, another arises.

Just as Carillion, 18.9p lower at 334.3p, and Balfour Beatty, down 14.8p at 237.9p, called off their marriage, Hyder Consulting announced it had agreed to sell itself to the Dutch building designer Arcadis for £256.2m, or 650p a share. The deal represents a chunky 38.5 per cent premium for the engineering consultancy, which has worked on projects such as Sydney Harbour Bridge. News of the deal sent Hyder rocketing 173.75p to 643p.

Strong results from the likes of Shell, up 66.5p at 2,555.5p, and Intu Properties, 8.5p better at 328.8p, weren’t enough to support the FTSE 100. Argentina’s default and hints from the US Federal Reserve that interest rate rises could be getting closer weighed on sentiment and the blue-chip index lost 43.33 points to 6,730.11.

Afren collapsed 38.8p to 110p on the mid-cap index as the Africa-based oil and gas explorer suspended its chief executive and chief operating officer. An investigation has uncovered unauthorised payments by a third party that may have been to the benefit of the two executives. The investigation is ongoing.

Telecity was given a vote of confidence by the US hedge fund manager David Abrams, dubbed a “one-man wealth machine” in The Wall Street Journal, as Abrams Capital Management upped its stake in the data centre group from 3 per cent to  5 per cent. But Telecity lost 9p to 795p.

After a tough couple of years, Gulfsands Petroleum finally had some good news to share. The oil and gas explorer was forced out of Syria in 2012 and decided to move into Morocco instead. Three wells later and the company had nothing to show for its efforts. But yesterday Gulfsands, up 6p at 54.5p, announced it was fourth time lucky, as gas was uncovered at its latest well.

A profit warning from engineering services group Redhall saw it tumble 6p to 21.5p. It said it expects to break even this year.

Ariana Resources, an AIM tiddler targeting gold exploration in Turkey, rose 0.27p to 1.15p after securing funding to get its first mine at the Red Rabbit Gold Project up and running.

Start your day with The Independent, sign up for daily news emails
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Operations Manager

£30000 - £38000 per annum: Recruitment Genius: They are a financial services c...

Guru Careers: Stockbroker

£Basic (OTE) + Uncapped Commission: Guru Careers: A Stockbroker (qualified / p...

Recruitment Genius: Financial Adviser

£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...

SThree: Graduate Recruitment Resourcer

£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...

Day In a Page

Robert Fisk in Abu Dhabi: The acceptable face of the Emirates

The acceptable face of the Emirates

Has Abu Dhabi found a way to blend petrodollars with principles, asks Robert Fisk
Nepal earthquake: One man's desperate escape from Everest base camp after the disaster

Escape from Everest base camp

Nick Talbot was sitting in his tent when the tsunami of snow and rock hit. He was lucky to live, unlike his climbing partner just feet away...
Adopting high fibre diet could dramatically cut risk of bowel cancer, says study

What happened when 20 Americans swapped diets with 20 Africans?

Innovative study in the US produces remarkable results
Blake Lively and 'The Age of Adaline': Gossip Girl comes
of age

Gossip girl comes of age

Blake Lively is best known for playing an affluent teenager. Her role as a woman who is trapped forever at 29 is a greater challenge
Goat cuisine: Kid meat is coming to Ocado

Goat cuisine

It's loved by chefs, ethical, low in fat and delicious. So, will kid meat give lamb a run for its money?
14 best coat hooks

Hang on: 14 best coat hooks

Set the tone for the rest of your house with a stylish and functional coat rack in the hallway
Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

How a costume drama became a Sunday night staple
Miliband promises no stamp duty for first-time buyers as he pushes Tories on housing

Miliband promises no stamp duty for first-time buyers

Labour leader pushes Tories on housing
Aviation history is littered with grand failures - from the the Bristol Brabazon to Concorde - but what went wrong with the SuperJumbo?

Aviation history is littered with grand failures

But what went wrong with the SuperJumbo?
Fear of Putin, Islamists and immigration is giving rise to a new generation of Soviet-style 'iron curtains' right across Europe

Fortress Europe?

Fear of Putin, Islamists and immigration is giving rise to a new generation of 'iron curtains'
Never mind what you're wearing, it's what you're reclining on

Never mind what you're wearing

It's what you're reclining on that matters
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband

Chuka Umunna: A virus of racism runs through Ukip

The shadow business secretary on the benefits of immigration, humility – and his leader Ed Miliband
Yemen crisis: This exotic war will soon become Europe's problem

Yemen's exotic war will soon affect Europe

Terrorism and boatloads of desperate migrants will be the outcome of the Saudi air campaign, says Patrick Cockburn
Marginal Streets project aims to document voters in the run-up to the General Election

Marginal Streets project documents voters

Independent photographers Joseph Fox and Orlando Gili are uploading two portraits of constituents to their website for each day of the campaign
Game of Thrones: Visit the real-life kingdom of Westeros to see where violent history ends and telly tourism begins

The real-life kingdom of Westeros

Is there something a little uncomfortable about Game of Thrones shooting in Northern Ireland?