Tenon shares hit new low

Link: Tenon’s shares plummet

The accountancy consolidator’s shares plummeted a further 24% last week from last Monday’s 19p to 14.5p this Monday. The shares maintained their low value as Accountancy Age went to press on Tuesday. The fall has seen Tenon’s share value plummet 50% for the month, having started January with a value of 29p.

Numerica, one of the other two listed accountancy companies, has seen its share price rally over the past month from an all-time low of 96.5p to 99.5p. Vantis, the third listed outfit, hit rock bottom on Friday at 87.5p where it remained this week.

The downtrodden shares followed a depressed market which has remained low amid fears of war with Iraq throughout what City watchers are terming ‘Black January’.

But even after a market rally on Monday – caused by the FSA’s relaxing of insurance solvency requirements – Tenon remained low as the FTSE-100 closed up 122 points and AIM rose.

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