3i discount to NAV leaves Action move in focus after bounce
London was closed Saturday, leaving the week to July 3 as the latest test for 3i Group plc. Shares made a late bounce but still trade at a steep discount to NAV. The stock added 1.01% on Friday to close at £26.11, or 2,611p. The FTSE 100 rose 0.25% to 10,679.03. Shares ended Friday 41.94% off the 52-week high of £44.97 from Oct. 27. The stock isn’t trading like the clean Action growth bet it was last year, but it’s not down at the May 14 low either. Investors Chronicle listed the shares at 2,611p on Friday, or 43.07% above the 52-week low of 1,825p seen on May 14.