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.