Shares higher as copper advances2007-06-14 16:53:26

Home Retail Group added 0.25 to 460 - the DIY retailer reporting that like-for-like sales at its Argos stores rose by 0.9% in the 13 weeks to June 2nd. The firm's Homebase stores meanwhile saw a 2.7% increase, despite a downturn in May due to inclement weather.

Going forward, company expectations for the remainder of the year are unchanged, although it has noted the uncertain consumer outlook flagged by others.

Dobbies Garden Centres surged 260 to 1785 - property-to-retail tycoon Tom Hunter raising his stake in the UK's third largest garden centres operator to 20.6% - having acquired a further 10% at 1750p. Hunter also confirmed he may make a bid.

Last week Tesco tabled a £156 million, 1500p per share offer for the 21 store outfit.

Hays put on 3 to 169.25 - the recruitment company seeing its biggest share price gain in 4 years at one point after reporting better-than-expected growth in fee income in its core UK/Ireland operations.

Fee income from the UK and Ireland, which generate two-thirds of group profit, rose 13% in fiscal H2, compared with 8% in H1. Meanwhile, the number of consultants has been dramatically increased and margins in the firm's temp business have stabilised.

Speedy Hire hardened 33 to 1273 - the tool hire firm announcing it has agreed to buy the tool hire division of Hewden Stuart for £115 million in a bid to consolidate its position as the UK's number one tool hire firm.

The deal is to be financed by an increase in the firm's borrowing facilities from £210 million to £325 million, as well as a placing of 4.36 million new shares in two tranches of 1250p each.

The addition of Hewden Stuart, currently part of Canada's Finning International Inc, will see the number of Speedy depots increase from 361 to over 540. And give it a customer base of over 100,000.

Bradford & Bingley rose 22.75 to 422.50 - Credit Suisse Group raising its recommendation on the mortgage bank from 'underperform' to 'neutral'. By CS's reckoning B&B currently has up to £500 million of excess equity capital available.

Tanzanian Gold

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2007-06-14 16:53:26 © Moneyextra.com