STOCK WATCH

SHARES in XP Power were up 6.5pc, or 160p, to 2640p, yesterday as the power converter company reported a 30pc rise in profits and lifted expectations for the year.

Its order book increased 52pc to £93.4m – 35pc with the impact of exchange rates tripped out – and it is on track to build a factory in Vietnam.

Bosses announced a dividend for the first half of 31p, up 7pc from the same period last year.

Peel Hunt said the stock is a must-have.