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Woolworths up on tycoon stake building
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Posted 08 August 2008 @ 09:31 am GMT
Following is a round-up of key small cap movers on the London stock market on Friday.
Build your own home - and save thousandsShares in Woolworths jump as much as 10 percent in early trade, following a similar rise on Thursday, after Iranian property tycoon Ardeshir Naghshineh lifts his shareholding in the sweets-to-DVDs retailer to 148.8 million shares, to 10.2 percent, up from 141.3 million shares previously.
"Naghshineh has been building his stake over time, probably because he wants to be involved in any potential break up of the group or at least have a say in it. I don't think it involves property as Woolworths leases most of its property right now," says a trader at KBC Peel Hunt.
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