MARKET REPORT

Standard Chartered bank was overdrawn 24 ¼ p to 428 ¾ p as Morgan Stanley maintained its bearish underweight stance with a 410p price target.

Merlin Entertainments, whose attractions include Thorpe Park and Alton Towers, was riding highest on the blue chip gainers board, up 13 ¼ p to 415p, as it signed up as its next chief fi nancial offi cer Anne- Francoise Nesmes, who currently holds the same position with specialist veterinary pharma company Dechra Pharmaceuticals.

Lower oil prices lifted airline groups IAG and easyJet, up 13 ½ p to 518p and 30p to 1538p, while buy support from Bernstein with a 1340p price target boosted orthopaedics group Smith &

Nephew 17p to 1112p. Drugs giant Shire weakened 57p to 3740p despite share buying by chief Flemming Ornskov, while a reassuring update lifted steel group Severfi eld 1p to 59p.

Industrial controls fi rm Spectris gained 133p to 1648p after solid fi gures and marketing fi rm Digital

Globe Services jumped 9 ¼ p to 60p after its strongest half- year performance to date.