Wellstream price pushed lower
Aug 6 2008 by Graeme King, The Journal
THE FTSE 100 Index spent most of yesterday in positive territory buoyed by the banking sector. The benchmark Index closed 134.3 points higher at 5454.5. Investors were relieved by a further fall in the price of crude oil which traded below $119 per barrel compared with $147 three weeks ago.
In The North 40 Wellstream Holdings was pushed lower with the share price finally closing down 7.28% or 81p at 1032p. Conversely shares in D1 Oils, the biofuels specialist, moved up 3.5p, closing at 32p.
Elsewhere, North East transport companies Go Ahead and Arriva reacted positively to the lower oil price. Go Ahead appreciated 39p to end the session at 1734p and Arriva finished the day on firmer ground up 25p at 709.5p.
Northgate, the vehicle rental company, performed well through the day closing at 352.75p, up 6p.
Housebuilders were also in the spotlight with Bellway and Barratt Developments both performing strongly over the course of the day. Bellway closed 77.5p higher at 584.5p and Barratt Developments ended at 116.25p up 11.25p. Grainger, the residential property investor where we act as joint broker, traded 10p higher and closed at 212.5p.
Tanfield Group ended the session with no change in the share price at 10.25p. GlaxoSmithKline was also in demand with the shares closing the session 44p better at 1248.5p.
Other stocks in the regional portfolio which spent most of the session in negative territory included Carr’s Milling Industries, which closed at 632.5p and China Goldmines – where we act as broker – ended the day down 2p at 82.5p.
Demelza Claypole Demelza.Claypole@brewin.co.uk
