Scots Stocks: It's an ill wind as Aggreko shares soar on boost from Gustav effect
Published Date:
02 September 2008
AGGREKO, the temporary power provider, moved close to an all-time high yesterday as analysts raised the possibility of a boost to revenues as Hurricane Gustav approached New Orleans.
RBS analyst Richard Rae pointed out that while a "typical" hurricane could boost profits by £3 million, Aggreko now has a considerably larger "standby fleet" which could also capitalise on damaged infrastructure. Aggreko has performed strongly despite little disaster-related income since Hurricane Katrina, but shares added 8.5p to 730.5p.
BowLeven, the west African-focused oil and gas explorer was boosted on hopes of positive news ahead of today's operational update. Shares in the Aim-listed company added 20p, or 8.6 per cent, to 253p.
Shop and school lab outfitter Havelock Europa continues to climb after last week's strong interim results, adding 8p, or 13.2 per cent, yesterday to 68.5p.
Dana Petroleum leapt on Friday's strong interim results but reversed much of the gain yesterday as oil prices softened. Shares dropped 59p to 1,447p.
Weir Group added 6p to 930.5p after disposing of part of its Canadian business, raising £13.7m.
Goals Soccer Centres fell after analysts trimmed full-year expectations as bar sales fell. Shares dropped 7.5 per cent to 222p.
The full article contains 224 words and appears in The Scotsman newspaper.
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Last Updated:
01 September 2008 9:46 PM
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Source:
The Scotsman
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Location:
Edinburgh