CAIRN Energy was given a boost yesterday after confirming it was on track to produce oil from its giant Rajasthan fields in the second half of next year. The company had always targeted 2009 for first production however analysts had feared the date c
ould be delayed due to red tape. Analysts at ABN-Amro reiterated its buy recommendation and increased its target price by 10 per cent to 2,840p. Shares added 3.1 per cent, or 57p, to 2,565p.
Perth-based utility Scottish & Southern Energy also provided a trading update, saying profits for the year were expected to meet expectations, while the company continued to sign up thousands of new customers. Shares added 6p to 1,528p.
Robert Wiseman Dairies declined sharply however, the day after warning of a rise in product costs and falling dairy commodity prices. Shares lost 30p to 500p. Aggreko, the supplier of temporary power, ended its run of rises in the last seven straight sessions, easing 8.5p to 532p.
Craneware, the Livingston-based hospital billing software company, which won IPO of the year at the Quoted Company Awards on Wednesday night, was unchanged on 147.5p. Omega Diagnostics, the Alva-based company, which is building a diagnostics kit group with an acquisition-led strategy, rose 2 per cent to 25.5p.
The full article contains 235 words and appears in The Scotsman newspaper.
