Building stock buoyant

Published:  23 September, 2009

LONDON: Construction and builders' merchant shares performed well last week.

Newspapers reports that an Abu Dhabi-based investment company is looking to buy a 20pc stake in Wolseley buoyed shares that rose 30p to £14.94.

Balfour Beatty was the top performer after it confirmed plans first revealed in The Daily Telegraph to raise £353m via a rights issue and use the proceeds to acquire US-based Parsons Brinckerhoff for $626m (£380m). The shares jumped 27.3p to 373.8p.

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