IDS trading update boost

There was little in the way of corporate newsflow to interest investors who follow the companies in the regional portfolio yesterday, with few announcements, leading to a fairly benign trading session.

There was little in the way of corporate newsflow to interest investors who follow the companies in the regional portfolio yesterday, with few announcements, leading to a fairly benign trading session.

There was, however, a trading update from Immunodiagnostic Systems (IDS).

The company, whose shares are traded on the Alternative Investment Market, provided the update during its annual general meeting, which was held yesterday.

The chairman of IDS, David Evans, told shareholders the group's sales performance for the first four months of this financial year was in line with expectations.

He also indicated that this meant sales were running 28% higher than over the same period in 2005.

The market appeared to be pleased by the announcement, marking the shares up by 2p, to a closing price of 154.5p.

Elsewhere, it was reported that GlaxoSmithKline has been requested to add a further warning label to its Dexedrine drug. The compound is used to treat hyperactivity and the warning concerns the risk of sudden death. Shares in the pharmaceutical giant ended the day down 1p, at 1436p.

Shares in Barratt Developments and Bellway had similar fortunes yesterday. Barratt shares were marked lower by 6p, whilst investors in Bellway will have noticed a 13p fall per share. The results statement issued by fellow housebuilder Persimmon suggested that the new housing market has not been adversely affected by the recent quarter point rise in UK interest rates.

Andrew Howie is an Assistant Director of the Wise Speke division of Brewin Dolphin Securities Ltd.

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