FTSE 250 movers: Catlin rises on takeover as housing stocks damaged by data, downgrades

Caitlin Group was on the rise after confirmation on Friday that it will be acquired by XL Group for around £2.79bn. However, analysts from Shore Capital said not to “envisage a counter bid emerging for Catlin” as it is “clearly” the preferred option for founder and chief executive Stephen Catlin.

Meanwhile, electronic components group Laird was topping the fallers list after the company’s slowdown in organic growth towards the end of the year was revealed. Numis Securities maintained its ‘buy’ rating for the firm but estimated that organic growth for the year in US dollar terms should be 8%. This meant that growth slowed down from 11% in the first nine months of the year to just 3% in the fourth quarter, "largely due to tough comps and some supply shortages in smartphones", the broker said.

The housing sector was flailing after data showed that the output in the construction industry decreased by 2% in November compared with October. Both all new work and repair and maintenance contributed to the fall. Wider UK industrial production figures showed an unexpected 0.1% decline November.

Bellway, Berkeley, Bovis Homes, Rightmove and Zoopla were all on the decline, under pressure further after Jefferies downgraded its ratings across the sector.

FTSE 250 - Risers
Catlin Group Ltd. (CGL) 696.00p +5.37%
Henderson Group (HGG) 223.30p +4.59%
Hikma Pharmaceuticals (HIK) 2,267.00p +4.23%
Centamin (DI) (CEY) 65.05p +3.67%
IG Group Holdings (IGG) 763.50p +3.25%
Brit (BRIT) 270.50p +2.89%
Serco Group (SRP) 161.80p +2.86%
Ophir Energy (OPHR) 142.10p +2.60%
Michael Page International (MPI) 430.00p +2.23%
Just Eat (JE.) 333.70p +2.14%

FTSE 250 - Fallers
Laird (LRD) 306.90p -7.48%
Berkeley Group Holdings (The) (BKG) 2,335.00p -4.69%
Crest Nicholson Holdings (CRST) 368.60p -4.21%
Bellway (BWY) 1,829.00p -4.14%
Ashmore Group (ASHM) 264.00p -3.90%
Bovis Homes Group (BVS) 830.50p -3.82%
Drax Group (DRX) 383.90p -3.81%
Rightmove (RMV) 2,176.00p -3.50%
Galliford Try (GFRD) 1,230.00p -3.45%
Zoopla Property Group (WI) (ZPLA) 175.50p -3.31%