Good momentum for CI companies’ share prices

Tuesday 27th July 2004, 12:00AM BST.

CHANNEL Island company share prices have shown ‘good momentum’ overall in the second quarter of the year, against a static market, say stockbrokers Collins Stewart.

Three of the five FTSE-listed companies have produced an upward trend since the end of December.

Jersey Electricity’s share price has remained unmoved and the islands’ largest company, CI Traders, has seen its share price fall.

Collins Stewart say that with a gradual upturn in the finance industry worldwide, they believe a gradual recovery is now under way.

However, they remain concerned about the ‘fragility’ of consumer confidence in Jersey, given the forthcoming changes to the tax structure and rise in UK interest rates.

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