SMALLER STOCK TO WATCH
TBI shares have been on a recovery path this year after rumours of a takeover bid came to nothing. The fortunes of TBI, the airport owner and developer, were boosted yesterday as Ryanair unveiled plans to increase operations at its Stockholm Skavsta airport. Analysts expect much of the revenue to make its way to the bottom line. Shares were unchanged at 68p.
DIRECTORS’ DEALINGS
Preben Prebensen has bought his first tranche of shares in Wellington Underwriting, it emerged yesterday, ahead of his formal appointment as chief executive of the company next Monday. Last week he spent just shy of £500,000 on the holding. He bought 575,827 shares in the Lloyd’s of London insurer at 86.2p each.
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BET OF THE DAY
The threat of higher interest rates and increasing bad debts has resulted in the FTSE banking sector putting in a disappointing performance so far this year. The sector opened at 8,818 in January but on Tuesday the September contract closed at 8,640. Cantor Index, the betting firm, is offering a December contract spread of 8,878-8,922.