The week is ending as something of a damp squib for equity markets with sellers in the ring. Click here for The Trader Nicole Elliott's latest take.
IC TIP UPDATES:
William Hill’s (WMH) shares have ticked up in early trading despite the announcement late yesterday that suitors 888 (888) and Rank (RNK) had decided to withdraw their offer for the bookmaker. William Hill’s board had refused to engage with its peers even after their initial offer was sweetened. The withdrawal will allow William Hill to concentrate on organic growth but is unlikely to spell the end of the consolidation in the sector. We retain our buy rating on William Hill.
The value of Fox Marble’s (FOX) order book has declined by €0.5m, following changes in exchange rates and a revised customer order after 29 June. The quarrying group has also said that the polishing and cutting factory in Kosovo should be complete before the publication of interim results at the end of September. We continue to rate the shares a speculative buy.
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Hammerson (HMSO) plans to list its shares on the Johannesburg Stock Exchange, which is expected to take place in September. The retail property landlord wants to increase the spread and depth of its shareholder base, helping improve the liquidity of the shares.
