FTSE 250 movers: RPS boosted by Klotz acquisition

RPS Group was trading higher after the announcement of its acquisition of Klotz Associated for $24.1m in an all cash deal. Klotz provides engineering, planning and environmental consultancy services.

“We anticipate Wayne Klotz and his highly experienced team will make an important contribution to our BNE North America business, which remains a priority for investment for the RPS board,” said chief executive Alan Hearne.

Afren bounced back after an initial dip on news that it had called off negotiations with Seplat Petroleum regarding a possible bid for the company. Afren notified shareholders that it was continuing to talk to bondholders regarding the funding needs of the business. The company was having discussions with both its existing stakeholders and new third party investors regarding the re-capitalisation of the company.

Oil stocks such as Premier Oil were also in demand as Brent crude futures continued their rebound and were trading above $60 a barrel for the first time in 2015.

AO World dipped a day after Panmure Gordon reiterated its recommendation to 'sell' urging investors to "capitalise on the unjustified level of price appreciation over the last quarter". The broker added: “This is a high quality e-commerce business but the intrinsic worth of the stock is just 152p, half the prevailing market price.”

Supergroup continued to decline following the surprise departure of its chief operating officer Susanne Given, just months after the arrival of new boss Euan Sutherland. SuperGroup will not replace her, with the heads of UK Retail, IT and logistics now reporting directly to Sutherland.

Risers

Vedanta Resources (VED) 525.50p +11.10%
Premier Oil (PMO) 175.40p +10.38%
RPS Group (RPS) 250.30p +10.31%
Afren (AFR) 7.75p +9.00%
Kaz Minerals (KAZ) 259.80p +5.48%
Hellermanntyton Group (HTY) 331.50p +5.14%
Lonmin (LMI) 164.70p +4.90%
Spire Healthcare Group (SPI) 315.80p +4.50%
Atkins (WS) (ATK) 1,365.00p +3.80%
AL Noor Hospitals Group (ANH) 1,001.00p +3.73%

Fallers
Bwin.party Digital Entertainment (BPTY) 82.65p -19.37%
Supergroup (SGP) 1,004.00p -5.19%
Acacia Mining (ACA) 271.40p -3.45%
AO World (AO.) 294.30p -3.38%
Indivior (INDV) 165.50p -2.99%
Alent (ALNT) 340.00p -2.86%
Crest Nicholson Holdings (CRST) 441.90p -2.81%
Telecity Group (TCY) 950.50p -2.26%
Dairy Crest Group (DCG) 486.80p -2.19%
Rank Group (RNK) 183.10p -2.09%