SCOTS STOCKS: British Energy boosted by extension to deadline for EDF takeover review

Published on Tuesday 2 December 2008 20:49

SHARES in British Energy crept up 1.4 per cent to 755p as the European Commission extended its competition review of French utility EDF's takeover plans for the nuclear power operator.

The review deadline for the acquisition was extended to 22 December from 8 December. EDF has bid 12.5 billion for British Energy.

Wood Group, the Aberdeen-based energy services giant, said that, through its alliance with Malaysia's Serba Dinamik, it has reached a short-term maintenance agreement with Petronas Gas Berhad. Shares in Wood rose 2.7 per cent to 197.8p.

While its former house building division fell into administration yesterday, Edinburgh property group Kenmore saw the value of its closed-ended investment fund Kenmore European Industrial Fund slump 9 per cent to 12.5p. Its market cap is currently about 19 million although the firm revealed recently that the estimated value of its property portfolio was 393.6m.

Shares in Dundee battery specialist Axeon collapsed 60 per cent to 5.5p and its chief executive resigned after a second profits warning.

Milk producer Robert Wiseman got a boost when it bought back 100,000 shares at an average of 302.75p per share. The shares closed 4.7 per cent up at 310p.