Jarvis shares surge on bid speculation

Jarvis' share price improved this morning as speculation mounted that Ferrovial, the Spanish giant which bought Amey last year, is showing an interest in the group and its assets.

The share price was 28.5p at last night's close and has risen to a high of 34p this morning.

There is also speculation that hedge fund K Capital Partners has been increasing its holding, which currently stands at 22.3%. K Capital first bought into Jarvis in May when its shares were at the 70p mark, acquiring a 12.7% stake. It then bought more shares on Friday last week and Monday this week.

Morgan Stanley Securities has also increased its holding to 5.2%.

Meanwhile Jarvis chief executive Kevin Hyde has also been on a small shopping spree, purchasing a further 539 shares at 25.5p each, bringing his total holding to 37,445 shares (0.026% of the issued class of shares).