Scots stocks: Scotland's big two drive upward as sector peer reports profits up 40%
Published Date:
23 August 2008
SHARES in Scotland's two big transport operators received a boost yesterday after healthy interims from sector peer Arriva.
Perth-based Stagecoach added 16.5p or almost 6 per cent, to 295.5p, while Aberdeen's FirstGroup lifted 18.5p to 581p, a gain of 3.3 per cent. Both firms are poised to update the market on trading.
The gains came after Sunderland-headquartered Arriva reported a 40 per cent rise in pre-tax profit, reflecting rising demand for its bus operations and the first contribution from its CrossCountry rail franchise.
FirstGroup was aided by a note from broker Collins Stewart highlighting the ScotRail operator as a "buy".
On the energy front, an end to the previous session's oil price rally hit explorer Cairn Energy, down 10p at 2,866p, though energy services giant Wood Group, added 9p at 446.75p. Both are due to report interim numbers next week.
Scottish & Southern Energy sparked up just 2 per cent, or 28p, to 1,438p as the takeover talk which caused its shares to spike earlier in the week appeared to fade.
Johnston Press, publisher of The Scotsman, made modest gains ahead of its interim results on Wednesday. It closed 0.75p up at 51.25p.
The full article contains 218 words and appears in The Scotsman newspaper.
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Last Updated:
22 August 2008 10:35 PM
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Source:
The Scotsman
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Location:
Edinburgh
