UK Mail's bull run couldn't last. After hitting the heights of 510pence per share last week, following a stellar set of results, it has drifted back slowly to 497p as of today - still significantly higher than the 445p the week before its full year results. Not bad work in a fortnight.
But it has still helped the MT basket of six shares hit a new high for the year: £18.67...
That's a 14.7% increase since the beginning of this month alone. But, as this chart shows, there are some feeling the benefits more than others. UK Mail certainly, but Hargreaves and Dart Group have been on the up in May too.
What is more mysterious is the lack of confidence in Stobart Group which, like UK Mail, also had a pretty impressive set of numbers a fortnight ago. But it appears investor sentiment has been shaken by too many boardroom changes, and less than supportive quotes in the financial press of its main shareholder.
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But what of Wincanton? It's full year numbers are due next month, but it too is having a mini-run and its market capitalisation is highest ;evel for many months (its peak back in January when it was £83.9m. Now it is £79m.
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