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o Nomura, the Japanese securities house, has acquired a taste for pubs. It has built a 7.58 per cent interest in Paramount, the North- western pubs chain valued at pounds 8m. Bass, Burtonwood Brewery and Greenalls are already on the company's share register. It is Nomura's second pubs involvement. Interests related to the Japanese group already own the unquoted Phoenix Inns with 1, 750 pubs. Paramount shares shaded to 6.75p.

o Silkbarn, a group headed by Phil Edmonds, is buying the Robert Fraser financial business. Fraser's chairman Colin Emson replaces Mr Edmonds as head of Silkbarn, unchanged at 2p.

o Tullow Oil rose 5p to a 93.5p peak as its pounds 30m rights issue enjoyed a 90.13 per cent take-up.