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Stockwatch: Issue 289 7 Jul 2006

stockwatch n Plcs all surge ahead after Macquarie deal

Big five move ahead between 10 and 15% after Stagecoach quits London bus market

All of the big five plcs appeared to bask in the glory of Stagecoach’s surprising announcement that it was to quit the regulated London bus market and sell its operation to an Australian bank for £263m.

This, together with the announcement that the group had grown its non-regulated bus users by 2% last year, saw Stagecoach’s shares rise by 11.6% to close the period at 117.5p, up 12.25p on last time.

The other big groups also saw their share prices surge ahead by a similar...

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