InterContinental Hotels has surged again today, pushing it into overbought conditions, after an enthusiastic reception to results last week. Meanwhile, the rest of the list is almost entirely populated by oil companies, two of which are actually bid targets, while the third, Salamander, is likely to become one in due course. If these bids were to collapse the shares could fall rapidly.
Balfour Beatty’s profit warning and news of the chief executive officer's resignation caused the shares to plummet. The construction sector is not exactly booming, but neither is it in a slump, so the update is somewhat embarrassing. Consultant WS Atkins is struggling too, as results failed to excite the market. The shares are now below the 200-day moving average too, giving back all the gains made since November.