TAKING STOCK

o Hotspur, the investment trust where a revamp is underway, has attracted the attention of David Williams, head of Mosaic Investments. His family company, Ringwood Investments, has agreed to take a 1.2 per cent stake at 600p a share. Hotspur shares were unchanged at 688p.

o Friendly Hotels held at 146p. There has been small, but persistent interest with rumours of US developments. Friendly is run by the veteran hotelier Henry Edwards - and is the third quoted hotel operation he has developed.

o Fulmar, a high tech commercial printer, is likely to make a strong start to quoted life today. The shares were placed at 154p, raising pounds 12.3m; a premium of up to 30p is expected in first time dealing.