STOCK WATCH

■ ASHTEAD Technology shares briefly traded at near record highs after it said it had bought a Norwegian firm specialising in sub-sea dredging.

The equipment rental firm, which listed in London last year, acquired WeSubsea in a deal worth £5.6m to bolster its position in the sub-sea market.

It came as Ashtead Tech reported profits of £7.6m for the six months to the end of June, up from £3.9m a year ago. However, by the end of trading yesterday, shares fell 0.2pc, or 1p, to 260.5p.