STOCK WATCH

A ‘BUY’ rating from broker Berenberg was the icing on the cake for Patisserie Holdings’s shares.

Analysts are impressed by the firm’s ability to grow in tough market conditions, and that the chain of French-style cafes, Patisserie Valerie, is the only one of its style and scale.

Patisserie Holdings has been negotiating better prices to try to boost earnings, and the broker said that the benefits of scale would help.

Shares were up 5.1pc, or 22p, to 455.5p.