Shares in Iomart surged more than 13% yesterday after the Scottish internet specialist revealed the sale of its online business directory, Ufindus, to BT for £20m in cash.
Glasgow fund manager Jim Fisher’s £180m Saracen Growth Fund escaped relatively unscathed from the UK stock market’s first-half tumble because it steered clear of housebuilders and banks, it emerged yesterday.
The UK's FTSE-100 index of leading shares entered "bear market" territory yesterday morning - when an early plunge took it more than 20% below last year's peaks.
Shares in Marks & Spencer rebounded 6.7%, or 14.5p, to 231.5p yesterday amid rumours of a looming takeover, as chief executive Sir Stuart Rose prepared for a potentially difficult annual meeting today.
Persimmon hammered the beleaguered house-building sector with more grim news yesterday, saying that it planned to cut 1100 salaried staff - a quarter of its workforce
as first-half home sales fell 31%.
Crude futures fell further yesterday as traders scooped up profits but US tycoon
T Boone Pickens warned that prices will not drop below $100 a barrel again.
Ben Bernanke, chairman of the Federal Reserve, entered the shark-infested waters of Washington regulatory battles yesterday and cautiously suggested that the US central bank be given new powers to oversee financial markets.
The impact of last summer's foot-and-mouth outbreak is continuing to be felt by the livestock sector, as auctioneer John Swan yesterday posted a pre-tax loss of £72,605 for the year.
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