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Market Watch

FINANCE

SHARES in subcontractor T Clarke came off a recent high last week as some investors took profits ahead of forthcoming half-year results.

Elsewhere, Taylor Woodrow lost thruppence to 334p despite investment bank Merrill Lynch urging traders into the stock with a 'buy' rating.

Balfour Beatty shipped 5.75p to 339p despite charges of manslaughter against the contracting giant over the Hatfield Rail crash being dropped.This failed to inspire the City, with Bridgewell Securities re-iterating a 'fair value' rating.

BPB was the week's biggest gainer after an approach from rival materials giant Saint Gobain but shares in Ultraframe also climbed away steadily from its recent 12-month low.The ailing conservatory maker was buoyed by a judgement from the Court of Appeal that dismissed claims by Burnden that Ultraframe had dismissed its intellectual property rights on two counts.

Ultraframe had valued the claims as 'multi-million' but the judge dismissed both and is also expected to insist that Burnden pay the conservatory maker's costs.

Ultraframe had been one of the worst performing stocks over the last year but that crown has been easily taken by Jarvis, which hit a fresh nadir last week.

On the Alternative Investment Market, shares in groundwork contractor Greenfield slipped to a low of 6.75p.

Also on AIM, Volvere, which owns consultant Amey Vectra, disclosed a 16.6 per cent stake in loss-making NMT.