FTSE 250 movers: CSR leads on buy-out deal

CSR shares leapt after fellow chip designer Qualcomm announced it was buying out the company for 900p a share or £1.56bn - a 36% premium to Tuesday's closing price.

Infrastructure group Balfour Beatty saw its share price jump after appointing Qinetiq's chief executive officer Leo Quinn to take up the same position on its own board in 2015, ending a five-month search for a new boss. Qinetiq's share price was sharply lower. Liberum Capital described the director as "a truly exceptional hire" for the group, saying he is "widely recognised as a top-draw chief executive, who is particularly strong at working capital management, which is key for Balfour".

Bellway shares extended Tuesday's gains, which came on the back of a gleaming set of annual results and the revelation that it expects to deliver volume growth of around 10% in the new financial year based on the record size of its order book. Jefferies International, Citigroup and Deutsche Bank all raised their target prices on the stock.

Credit Suisse pushed Aveva shares higher after upgrading its share to 'outperform' from 'neutral' and upping its target price from 1,700p to 1,800p.

Falling oil prices pushed Enquest, Afren and Premier Oil into the red as Brent crude futures continued to decline after registering their worst one-day drop in four years on Tuesday.

Synergy Health tracked its sector peers lower after shares in pharmaceutical group Shire were hit by the news US drugmaker Abbvie has said it is reconsidering its offer in light of the US Treasury’s new rules regarding the takeover of foreign companies, specifically tax inversion deals.

FTSE 250 - Risers
CSR (CSR) 854.00p +29.69%
Balfour Beatty (BBY) 155.80p +4.77%
Hochschild Mining (HOC) 124.20p +2.05%
Bellway (BWY) 1,586.00p +1.34%
Millennium & Copthorne Hotels (MLC) 560.00p +1.27%
Diploma (DPLM) 666.00p +1.22%
Domino's Pizza Group (DOM) 582.00p +1.13%
Rightmove (RMV) 2,020.00p +0.95%
Aveva Group (AVV) 1,374.00p +0.73%
De La Rue (DLAR) 506.50p +0.70%

FTSE 250 - Fallers
QinetiQ Group (QQ.) 192.50p -12.02%
EnQuest (ENQ) 78.50p -8.56%
Just Eat (JE.) 257.00p -5.79%
Zoopla Property Group (WI) (ZPLA) 192.90p -5.49%
Essentra (ESNT) 649.00p -4.70%
Rotork (ROR) 2,374.00p -4.62%
BlackRock World Mining Trust (BRWM) 344.00p -4.60%
Ferrexpo (FXPO) 89.00p -4.46%
Wood Group (John) (WG.) 647.50p -4.36%
Synergy Health (SYR) 1,741.00p -4.34%