STOCK WATCH

SHARES in steel contractor Severfield rose after analysts hailed significant progress.

In a trading update, Severfield, which has worked on major projects such as the Olympic Stadium and Wimbledon’s Centre Court, said it was performing in line with recent increased market forecasts.

It aims to hit £26m of profits in 2020, and made £19.8m last year. Analysts at Peel Hunt said the update showed ‘rock solid performance’ yet to be reflected in its shares, which hopped 2pc, or 1.5p, to 75p.