Eaga supported but shares drift
Sep 4 2008 by Graeme King, The Journal
IN THE regional portfolio, investment house Panmure Gordon was positive about the prospects for green support services company eaga and increased its price target for the shares from 150p to 175p.
On Tuesday, eaga reported its full year figures, which were ahead of expectations.
The company – where we act as joint broker – is involved in supplying the expertise for the Government’s Warm Front initiative which aims to provide vulnerable households with energy solutions to reduce the amount spent on fuel bills.
Eaga’s share price finished the day 2.75p lower at 156.25p.
Elsewhere, bus and rail company Go-Ahead Group confirmed that Christopher Collins will step down from the role of non-executive director after the group’s agm on October 23.
Andrew Allner, who is also a non-executive director of regional company Northgate, will take his place on the board.
Go-Ahead Group, where we also act joint broker, is scheduled to report its full year figures tomorrow and investors will be hoping for more good news. The shares moved 19p higher over the trading session to close at 2026p.
It was a difficult day for the region’s housebuilders with Barratt and Bellway giving up some of the gains recorded earlier in the week when the Government announced a number of measures to try and ease the problems in the housing market and the news gave a boost to the sector. Barratt Developments’ and Bellway’s share prices drifted lower by 9.5 p and 17.5p to close at 154p and 668p respectively.
Anthony Peart Anthony.Peart@Brewin.co.uk
