The summer holiday tumbleweed has well and truly begun blowing through the Square Mile.
As one analyst said: “This was the week people became more interested in their holidays than the stock market.”
The few movers included groundworks contractor Keller, which turned in some decent results. By Tuesday its share price had moved up 5% from the previous week to 704p. Had you been savvy enough to predict how well it would do at the end of February, you could have turned a £100 stake into £118.
Elsewhere, Barratt had a good week. Yes, you read that last sentence correctly. The housebuilder is still buoyed by the slack that its banks have cut it. In fact, it even broke through the £1 barrier – climbing 16% to 106p. Had you been clever enough to realise that 40p was a ludicrously low price for the company at the beginning of July, you could have turned £100 into £265.
So, could it ever drop to 40p again?
As one analyst noted: “You wouldn’t think so, but with the banks now effectively calling the tune, that’s probably a question for them.”