Stock Market Shares Surge Upward
A number of companies are about to launch rights issues as a result of the recent substantial recovery in share prices. The total funding sought is likely to be in the order of £1bn.
Flint, United Kingdom (PRWeb UK) 18 May 2009 -- A number of companies are about to launch rights issues as a result of the recent substantial recovery in share prices. The total funding sought is likely to be in the order of £1bn.
A spokesman for Staveley Head, one of the UK's leading van insurance providers to the building trade said "A number of these companies are in the building and allied trades sector, which must appear to be doubly beneficial to the economy. This would indicate that there is increasing optimism is the building industry, and we at Staveley Head are delighted at the improving fortune of our many clients in this sector who place their van insurance with us."
Among the companies who are considering a share issue are builders merchant Travis Perkins and housebuilder Redrow. This follows last week's rights issue by Taylor Wimpey which raised £500m. Retailers Currys and PC World owners DSG have recently launched share issues, and they will be followed soon by Debenhams who are also looking to raise £500m.
This renewed activity in rights issues follows a spectacular rise in the stock market over the past two months. The FTSE share index has gained 28% since falling to an all-time low in March. Many of the companies will use the funding raised to trim their debts, which have risen substantially during the recession.
The Staveley Head spokesman went on to say "This upturn in the stock market is certainly good news and indicates that there are some areas where recovery is evident. Some European economists, including George Buckley from the Deutsche Bank, are predicting that the recession in Britain could be over as early as next month but perhaps that view is a little overly optimistic."
If you want further information about this subject, or want to compare van insurance, or simply want a cheap van insurance quote Staveley Head will be pleased to assist.
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