MARKET REPORT: Ladbrokes on hold as they suffer dip
BOOKMAKER Ladbrokes dipped 6¼p to 115¾p as broker Deutsche Bank cut its buy rating to hold and warned the company may need a strategic rethink to revive its fortunes.
Royal Bank of Scotland firmed 1¼p to 398¾p amid talk it is set to name as its new chairman Sir Howard Davies, former head of the Financial Services Authority.
Packaging group DS Smith delivered a 13p gain to 360¼p following its proposed £220million acquisition of recycled corrugated board business Duropack, while Dechra Pharmaceuticals improved 26p to 935p after an 11 per cent rise in half-year profit. Audio social media platform Audioboom fell 0.23p to 9.65p as it signed up comedian Russell Brand to become the new face and voice of the company.
A deal to sell its waste water collection and storage vessel Crystalwater for £1.8million lifted Nature Group 3p to 15¼p, while insurance outsourcer Quindell advanced 20p to 96p as it suggested its professional services division could be sold at a significant premium to the company's £332million market value last Friday.
