A bubbly trading update has sent Lavendon Group’s (LSE: LVD) share price shooting 9% higher in Thursday trade.

The power equipment provider — which collapsed to four-year lows last week — advised that total revenues leapt 15% during January-June, while rental revenues advanced 13% from the year-ago period.

Lavendon therefore “remains confident of delivering its expectations for the full year,” it advised, and with good reason: market share grabs are helping to drive sales higher in the UK, Lavendon’s largest single market.

Meanwhile, investors fearing a Brexit hangover can take heart from Lavendon’s hefty overseas exposure. The Middle East and Continental Europe are responsible for 29% and 27% of group revenues respectively, and sales in these regions continued to climb in the first half.

I believe a forward P/E rating of 6.8 times makes Lavendon an attractive stock selection looking ahead.

Medical marvel

Healthcare giant BTG (LSE: BTG) hasn’t fared so well in Thursday business however, the company dealing 3% lower despite a promising trading update.

But I view this as nothing more than profit-booking after recent strength — BTG had seen its share price explode 10% since the referendum as cautious investors piled-in to the relative safety of medical stocks.

BTG advised that “overall performance and trading since April 1st are in line with expectations,” adding that revenues guidance of £485m-£515m for the full-year is unchanged.

However, the firm advised that this is based on an exchange rate of £1/$1.45. Should sterling average £1/$1.35 for the remainder of 2016, revenues are likely to clock in at £510m-£540m, BTG said. However, higher R&D and other costs and currency hedging contracts would offset these gains.

While BTG changes hands on a P/E rating of 29.1 times for 2016, I believe the firm’s splendid product pipeline fully merits such a premium, and I expect earnings to surge as drugs demand rises in the coming years.

Shop around

Convenience store McColl’s (LSE: MCLS) has seen its share price jump 16% following hot acquisition news late on Thursday.

The retail play has snapped up 298 shops from The Co-operative Group for £117m in cash, it advised. McColl’s will raise £13.1m through a share placing in order to finance the deal.

Chief executive Jonathan Miller said: “This opportunity substantially accelerates our growth strategy and expands our neighbourhood presence for the benefit of our customers.” It adds to the 933 stores already McColl’s operates across the country.

While the convenience sector is seen as a hot growth channel for the grocery sector, question marks remain over whether recent success here may have peaked. Indeed, the Local Data Company (LDC) notes that 228 towns and cities reported a fall in the number of such outlets in 2015.

The impact of Brexit on consumer spending power could also pressure takings at McColl’s looking further ahead, particularly if the supermarket price wars heat up.

So while McColl’s deals on a cheap forward P/E rating of 9.9 times, I reckon growing competition in this marketplace makes the firm a risk too far at present.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has recommended BTG. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.