FTSE 250 movers: bwin rockets on m&a proposals, miners and oil stocks plunge

The FTSE 250 closed higher on Friday, boosted by a calmer bond market and favourable British construction data, which offset weaker commodities market. Sector-wise, base metals and oil provided the biggest drag, while retail and real estate offered a welcomed boost.

The index closed 85.65 points higher at 18,014.98.

Online gaming group bwin.party digital entertainment led the risers after confirming it has received several merger and acquisition proposals, including an audacious attempt by AIM-listed GVC Holdings to acquire its much larger rival. However, it stressed that there remained no guarantee that any of these discussions would result in any transaction being completed.

Restaurant Group continued higher after posting 8.5% rise in headline sales for the 19 weeks to 10 May on Thursday. The owner and operator of Garfunkel's, Frankie & Benny's and Chiquito brands also announced that plans to expand its property portfolio were on track to meet goals of 42 to 50 new restaurants.

Evraz topped the fallers as mixed Chinese data called the country's economy into question and drove base metal prices lower, including zinc, tin, nickel, lead and copper.

Platinum minder Lonmin plunged after Goldman Sachs double-downgraded its rating on the stock from 'buy' to 'sell' and cut its price target from 225p to 100p.

Oil and energy stocks including Premier Oil, Tullow Oil, Soco International, Hunting and Nostrum Oil & Gas were also in the red, as oversupply concerns continued to hound Asian markets. Saudi Arabia, Kuwait and United Arab Emirates all ramped up their output to the highest level since 1985.

Risers
Bwin.party Digital Entertainment (BPTY) 98.90p +10.63%
Restaurant Group (RTN) 712.00p +3.49%
Kaz Minerals (KAZ) 271.20p +3.39%
Dignity (DTY) 2,140.00p +2.54%
Clarkson (CKN) 2,347.00p +2.53%
Go-Ahead Group (GOG) 2,650.00p +2.44%
Northgate (NTG) 650.00p +2.36%
Rathbone Brothers (RAT) 2,256.00p +2.13%
Henderson Group (HGG) 278.60p +2.05%
Crest Nicholson Holdings (CRST) 504.50p +2.04%

Fallers
Evraz (EVR) 193.70p -6.11%
Premier Oil (PMO) 177.70p -2.90%
Hunting (HTG) 595.50p -2.46%
Tullow Oil (TLW) 416.70p -2.30%
Nostrum Oil & Gas (NOG) 567.00p -2.24%
Wood Group (John) (WG.) 697.00p -2.18%
Drax Group (DRX) 416.00p -2.09%
Fisher (James) & Sons (FSJ) 1,329.00p -2.06%
Ocado Group (OCDO) 381.90p -2.05%
TalkTalk Telecom Group (TALK) 376.70p -1.93%