Shares: Taking Stock

Wednesday 14 May 1997 23:02 BST

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Tuskar Resources firmed 0.25p to 6p. It has raised pounds 4.75m by placing 95 million shares at 5p a share through Dublin stockbroker Davy. The cash will go towards developing the group's Nigerian off-shore exploration interests and reducing debt. Once a high-flying Colombian explorer, Tuskar's shares briefly touched 100p. Then when its oil find was uncommercial the price collapsed to 1p. It was "reborn" in October 1996 when a Houston group acquired control, moving operations to Nigeria.

Network Technology held at 219p. Merrill Lynch is looking for profits to climb pounds 2.4m to pounds 5.7m this year and reach pounds 8.3m next.

Versalite, the coloured glass group, made a firm debut, closing at 4p against a 3p placing.

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