Talking of last-minute comebacks, beleaguered support services group Jarvis made a bit of one in the stock market last week. Its price rose 2.5% to 91p by close of play Friday. With Steven Norris' position as chairman confirmed now that he definitely isn't off to become Dick Whittington – sorry, I mean London mayor – perhaps the City will look at the group with greater certainty?
Another support services firm to put on a good show was megaconsultant Atkins. The chaps and the chapettes in the City continue to be impressed by the stewardship of chief executive Keith Clarke and notched it up 4.1% to 560p.
Construction conglomerate Montpellier, which is listed on the alternative investment market, also started a turnaround after its announcement of a £20.7m operating loss in its interim results earlier this month. Having laid out its plans to rebuild the business, its share price rose 1.1% to hit 22.5p.
All these price rises are far jollier than talking about the footie, aren't they, dear reader? I only have to think about Goldenballs and his Goldenfools slipping up – as well as those Kiwis demolishing our rugger team last weekend – and I get down again. And then, to make matters worse, I spot the share price of building services outfit Wigmore Group. Just a week after its share price collapsed 73.2%, it tumbled a further 15.8% to a mere ha'penny.
Sources tell me up to eight funds are taking a look at Jarvis’ Tube stake. Could the worst be over for the firm?
Hunch of the week
The group certainly has its work cut out restoring the faith of the Square Mile after its recent suspension of shares on the AIM. It has since put together a new financing package, but this has left the boys and gals in their pinstripes underwhelmed.
They looked equally scornfully on the poor old housebuilders. Already hit by yet another interest rate hike by that naughty old Bank of England, many in the sectors saw their share prices stumble. Berkeley, Taylor Woodrow and Westbury all slipped 1.3%, ending up on 925.5p, 257.25p and 427p respectively.