How am I going to link this in with share prices? I hear you ask. I can’t believe you doubted me: Rising from relative obscurity to become the fastest climber in the support services chart last week – the sector’s own Peter Andre, if you will (ha!) – was Aukett.
Now I’m not suggesting that the country’s only listed architect has
ever been an incredulously dumb, shockingly irritating antipodean with no musical talent whatsoever, but Aukett’s share price has rather fallen out of the limelight in recent times, its year low being a measly 2.5p. But last week it rose a whopping 29.3%
to reach a mighty 6.75p.
This rise has been caused in part by a shareholders’ revolt – some of them want to see a new management team installed. But could it be that the chaps and the chapettes in the City have got a whiff of a rumour that I picked up over a bottle of Chateau Margaux last week – that the board is considering a buyout?
Berkeley topped 930p last week. The market has always liked Pidgley – that won’t change any time soon
Hunch of the week
My sources tell me that Aukett management has not ruled out the move, but will not give a buyout
any serious consideration until its domestic squabbles are resolved. If this is correct, it is a shame – I’ve always felt that the company’s unique quoted position gave it a certain kudos, even if the share price has more often been mocked than revered.
Another strong performer was Morgan Sindall. But it was not rumour that boosted its shares 3.6% to 431p, but a higher than expected pre-tax profit of £20.9m and the promotion of David Mulligan to finance director.
Support services group Laing also sneaked up 2.7% to reach 192p by close of play Friday. Interest in the group was pricked by industry giant Ray O’Rourke’s decision to sell
6.65 million shares last week.