FTSE 250 movers: Berkeley gains on results; Restaurant Group goes stale
The FTSE 250 index was down 0.33% to 17,438.99 in late afternoon trade.
British property developer Berkeley Group was a high riser after better-than-expected first-half results. In the six months ended 31 October, pre-tax profit gained 33.9% to £392m compared to the same period a year earlier, exceeding estimates of about £351.7m.
The stock was also boosted an upgrade to 'buy’ from ‘add’ by Numis.
HICL Infrastructure, a British investment company, gained as it announced that it was increasing its revolving credit facility from £200m to £300m and has reached an agreement to acquire a 33.3% equity interest in northwest Parkway, a toll-road located in the Denver metropolitan area of Colorado.
Electronics and technology business Laird advanced as it announced plans to raise £185m through a rights issue and scrap its final dividend in a bid to strengthen its financial position. The company plans to use the placing proceeds to deliver its operational improvement programme next year and in 2018, invest in the opportunities for growth, particularly in the connected vehicle solutions business, and to maximise shareholder value.
British outsourcing company Serco was still on the rise after it reiterated its outlook for next year on Thursday as it said it should move into the ‘growth’ phase of its transformation plan in 2018 and announced a £600m contract with Barts Health NHS Trust for the provision of soft facilities management services.
Hochschild Mining jumped on the back of firmer gold prices.
Meanwhile, Restaurant Group fell as Numis cut its full-year 2017 earnings per share and profit before tax estimates to adjust for cost headwinds.
Risers
Berkeley Group Holdings (The) (BKG) 2,757.00p 8.33%
HICL Infrastructure Company Ltd (HICL) 163.90p 2.69%
DFS Furniture (DFS) 220.50p 2.37%
Serco Group (SRP) 135.50p 2.26%
BGEO Group (BGEO) 3,100.00p 2.04%
ICAP (IAP) 486.60p 1.86%
Grainger (GRI) 219.40p 1.81%
Hochschild Mining (HOC) 217.20p 1.78%
AO World (AO.) 173.80p 1.58%
TalkTalk Telecom Group (TALK) 154.60p 1.38%
Fallers
Euromoney Institutional Investor (ERM) 1,098.00p -7.81%
Laird (LRD) 140.00p -7.59%
Evraz (EVR) 225.90p -7.57%
Aggreko (AGK) 811.00p -4.08%
GVC Holdings (GVC) 631.50p -3.88%
Paysafe Group (PAYS) 360.60p -3.74%
Restaurant Group (RTN) 320.80p -3.14%
Playtech (PTEC) 810.00p -2.94%
Softcat (SCT) 284.10p -2.87%
Clarkson (CKN) 2,083.00p -2.80%