INVESTORS will be able to enjoy that rare event this week – a Scottish company floating on the stock market. Aberdeen-based Bridge Energy will add to its listing on the Norwegian stock exchange when it joins the Alternative Investment Market on Thursday. The company was created in 2010 when Norway-based Bridge Energy took over Scotland’s Silverstone Energy.
Chief executive Tom Reynolds expects Bridge Energy to be valued at £75 million following the listing, which he hopes will allow his firm to raise more cash for acquisitions of assets or whole companies in the North Sea and Norwegian waters.
Technology watchers are gearing up for a visit by Peel Hunt’s analysts to Imagination Technologies on Thursday. Look for an update on any trends reported by customers including Samsung, Sharp and Sony and keep an eye peeled for a read-across to Edinburgh-based rival Wolfson Microelectronics.
Analysts at Numis Securities meanwhile are awaiting news of non-executive director appointments at pubs giant Mitchells & Butlers, which is due to deliver a trading update on Friday ahead of its full-year results in November. Numis thinks M&B is undervalued by the City, which isn’t paying enough attention to the value of its estate.
In corporate news, all eyes will be on the travel sector this week with updates from arch-rivals TUI and Thomas Cook.
The pair will reveal if the boost seen from the miserable early summer weather continued when the rain finally eased off and as Britain celebrated the Olympics.
Both groups said they had benefited from the record wet weather between April and July as rain-soaked holidaymakers escaped to European destinations such as Spain.
A weakened euro also proved attractive for Britons, with Ibiza, Majorca and Menorca among the most popular short-haul destinations thanks to better exchange rates. Thomson Holidays-owner TUI will update the market on Thursday, while Thomas Cook will follow suit the day after.
Tomorrow: Aberdeen Asset Management, AG Barr, Finsbury Foods, Qinetiq
Tuesday: Albemarle & Bond
Wednesday: Domino’s Pizza, Homeserve, London Stock Exchange, Topps Tiles, Trap Oil
Thursday: Compass, Tate & Lyle, TUI Travel
Friday: Goals Soccer Centres, Mitchells & Butlers, Thomas Cook
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Weather for Edinburgh
Sunday 19 May 2013
Temperature: 10 C to 16 C
Wind Speed: 8 mph
Wind direction: North
Temperature: 9 C to 20 C
Wind Speed: 7 mph
Wind direction: West