Last week’s best performing Scottish shares on the stock market.
Johnston Press +66.7%
Shares in the newspaper group soared on the back of a “buy” note from broker Liberum, which has set a 160p price target on the stock. While the Edinburgh-based owner of The Scotsman, Scotland on Sunday and Edinburgh Evening News said it knew of “no operational or corporate reason for the price movement” in its shares, it added that it was continuing to “actively explore opportunities for the disposal of further assets” following a deal to sell its titles on the Isle of Man.
Shares closed at 8.1p on Friday 9 September and at 13.5p on Friday 16 September
Frontier IP +12.8%
The Edinburgh-based company, which helps universities to commercialise their research, recently said one of its portfolio companies – Heriot-Watt spin-out Nandi Proteins – is to take part in a study funded by a £1 million grant from Innovate UK to help develop new “processes and products that lead to the availability of healthier food choices for consumers”. The project is also supported by Moodiesburn-based sausage skin maker Devro and Irish foods group Kerry.
Shares closed at 33.25p on Friday 9 September and at 37.5p on Friday 16 September
After warning that the effects of the Brexit vote and the unstable situation in Turkey will have an “unclear but significant impact” on its full-year results, shares in the Glasgow-based travel and leisure group headed back in the right direction last week. Minoan is awaiting the outcome of a Greek court hearing on a long-awaited resort development on Crete.
Shares closed at 7.88p on Friday 9 September and at 8.75p on Friday 16 September
Omega Diagnostics +6.9%
The Alva-based life sciences company recently received £1.8m from Scottish Enterprise to help boost its workforce and ramp up its range of allergy testing products. The firm said the research and development grant will be used to accelerate the growth of its “menu” of allergens from 41 to 120 over the next three years “to cope with anticipated increasing demand”.
Shares closed at 16.13p on Friday 9 September and at 17.25p on Friday 16 September
John Menzies +6.6%
Shares rose after the logistics group struck a “transformational” $202 million (£153m) deal to buy a US aviation services that employs thousands of people. The Edinburgh-based baggage handler and newspaper distributor said the acquisition of ASIG from current owner BBA Aviation would add plane fuelling to its aviation arm’s range of services and double the size of its operations in North America.
Shares closed at 580p on Friday 9 September and at 618p on Friday 16 September