Queensborough, unchanged at 1.25p on the USM, is expected to return as a fully-listed company.r Stordata Solutions, the computer data group pumped into the old Millgate car alarm business, firmed to 17.5p. The group has agreed a leisure takeover which will be partly financed by a pounds 12.5m rights issue. After a pounds 2.8m loss this year, Greig Middleton expect profits of pounds 1.1m and then pounds 17.5m.Cluff Resources, the gold miner, jumped 14.5p to 75p as the company disclosed it had received a bid approach.TAKING STOCKr Shares of Queensborough Holdings, the aspiring leisure group run by Kevin Leech, the chairman of ML Laboratories, are expected to be suspended today. NNW firmed 2p to 997p and Norweb was up 30p at 1,185p.On the lively insurance pitch GRE, helped along by an analyst meeting and talk of a German strike, gained 9p to 240p.
In oils Shell, off 17p at 729p, reflected a cautious trading statement.Cortecs International gained another 2p to 120p. United News gained 15p more to 532p as the departure of Sir Nicholas Lloyd as editor of the Daily Express heightened talk the newspapers will be sold.Whitehall clearance of North West Water’s pounds 1.8bn swoop on Norweb was announced as the market closed. Tadpole Technology rose 6p to 80p on talk a significant contract will accompany the announcement of the forthcoming figures. Evans Halshaw, the garage group, reversed a further 20p to 298p with Ryland off 5p at 79p.Telspec, the electronic group, jumped 110p to 1,045p; a 300,000 share trade by Credit Lyonnais Laing at 1,000p caused the excitement. The group is apparently engaged in a series of investment meetings, hoping to nullify a bearish stockbroker report which has pulled the shares back from above 190p.TSB put on 5p to 381p on continuing speculation about a counter bid to the Lloyds Bank deal; Forte rose 6p to 255p as an institution picked up shares at 253p.Lonrho was unchanged at 154.5p as Dutton-Forshaw , the group’s main car dealership, was said to be the next disposal target of crusading chief executive Dieter Bock. Rolls-Royce, the aero engine group which has been finding the altitude too rich, managed a 1p gain to 153p. Fears of trading gloom at David S Smith, the packaging group, lowered the shares 16p to 564p.Sotheby, the auctioneer, rose 40p to 920p as a 1 million buy back of “A” shares was announced.
The shares rose 2p to 480p with a modest profit pounds 10m upgrade to pounds 325m for next year by Charterhouse Tilney helping sentiment. Sources close to the group rejected suggestions it planned to barge into furniture retailing.Albright & Wilson, the chemical group, fell 6p to 154p, only 4p above February’s scaled down flotation price There is talk of profit downgrades in the air. Kingfisher was also in form as it completed its US investment presentations to 15 institutions. There are hopes profits could top pounds 3m in the next full year. The company is currently completing an 18 month accounting period. Boots, off 11p to 540p, added to the retail gloom while Marks & Spencer, apparently suffering from Barclays de Zoete Wedd caution, lost 10p to 407p.The supermarket carnage clipped more than 3.5 points from the FT-SE 100 index which, inspired by New York, managed to improve 4.3 to 3,523.But as most retailers wilted, Asprey, the jeweller, sparkled to 127p, up 19p.
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