TAKING STOCK

o Dairy Crest, the food and milk group, is expected to enjoy a successful flotation today. The shares could open at around 175p against the 155p at which they were placed. The issued valued the group, formerly owned by farmers. at pounds 171m. The company buys and processes 1.5bn litres of milk a year.

o Appleyard, the garage group, edged forward 2p to 91p, pricing the company at approaching pounds 60m. There is vague but persistent talk of corporate action. One name put forward is Daewoo, the South Korean group striving to build sales here.

Ivernia West, the Irish lead/zinc group, experienced an 89.3 per cent take up of its Irpounds 41.25 rights issue; the cash is needed for its mine at Lisheen, Tipperary. The shares firmed to 90.5p.