Gilts

Gilt futures fell for a fifth consecutive day, ending one of their worst weeks this year, as investors fretted at the prospect of heavy upcoming supply and reduced Bank of England buying. The December gilt future settled 22 ticks lower at 116.33, bringing its drop over the week to more than two full points.

Rumour of the day

Could GKN be about to go on something of an acquisition spree? Shares in the engineer rose 1.4p to 111.9p yesterday after UBS reported back from an investor day citing the group as looking for deals in the aerospace propulsion market. The broker said that the group saw an opportunity to consolidate a fragmented supplier base.

Deal of the day

Shares in Westminster rose ½p to 35½p after revealing a $2.72 million (£1.6 million) contract for security services at Juba International Airport in southern Sudan. It is an extension of a contract awarded in 2008. Seymour Pierce, which has a “buy” rating on the stock, said the deal put the group on course to achieve full-year revenue forecasts.

Bet of the day

Gold prices struck a series of record highs this week, eventually spiking above 1,100 dollars for the first time, as Asian central banks, such as Sri Lanka and India, snapped up the precious metal as an alternative to the dollar. Could gold move higher? Paddypowertrader.com offers the precious commodity at $1094.1-$1904.6.

Tiddler to watch

Shares in Kentz rose 6p to 204p after Oriel Securities started coverage on the energy services group with a “buy” rating. The broker said that the group had a strong record with blue-chip clients in the Middle East and looked set to benefit from infrastructure investments in the region as remote energy sources are developed.

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