Scot Stocks: Milk profit fears spark 15% slump in share price for Robert Wiseman

Published on Friday 7 November 2008 20:28

THERE was a dramatic slump in the share price of Robert Wiseman Dairies yesterday after it warned on profits in its interim management statement.

The group fell 14.9 per cent to 320p after it delivered a 31 per cent slide in half-time profits to 13.3 million and warned high cream prices would impact full-year profits.

A lukewarm interim statement from STV did not thrill the City but neither did it cause it fright. Shares in the broadcaster slipped just 2.1 per cent to 158p. Its share price, like so many others, is way down last year's highs – in STV's case a 52-week high of 546.2p. But after the Glasgow-based group said yesterday it was on track to meet its 2008 targets, it stayed above the 154p one-year low hit on Thursday.

A Goldman Sachs note talking up the prospects of the oil and gas explorers, meanwhile, helped Cairn Energy rebound 67p to 1,678p. Oil producer Venture Production also staged a recovery, up 4.8 per cent to 421.7p after the previous day's 6.9 per cent drop.

Edinburgh-based Bowleven also enjoyed a boost, up 8.5 per cent to 126.5p.

Standard Life shares were up 2.6 per cent to 243.5p despite news that its former head of retail Trevor Matthews had lured SL financial controller Evelyn Bourke over to his new employer – insurance group Friends Provident.