Stock market crisis: overseas-listed firms rally

Shares in overseas contracting organisations working in the UK also bounced back today but most remain depressed.

Yesterday’s savaging on the stock markets for UK contractors was followed by a rebound today and this trend was replicated overseas.

Shares in BAM, the Dutch parent group of UK contractors HBG and Edmund Nuttall, are listed on the Euronext Bourse and the firm’s shares rose steadily before a minor tail off at the end of trading.

The shares are still well up on yesterday’s close but at just over €12 (£8.94) per share, the valuation has virtually halved in the last six months.

UK contractor Leadbitter also has a Dutch parent in Heijmans.

At €22.28 (£16.60), Heijmans shares are up 8% on the previous day but have also halved in value over the past few months.

Ferrovial is listed on the Ibex exchange and edged up 1.4% to €40.59 (£30.24) today but are also half the value the shares were trading at last summer.

Swedish giant Skanska is listed on the Stockholm bourse and the firm’s shares bounced back up six Swedish krones to 109 SEK (£8.55) but are down by a third on their valuation in the summer.