FTSE 250 movers: Saga surges on Bennetts deal, Rightmove and Zoopla hit by OnTheMarket competition

Saga shares were trading higher on news that the over-50s financial services provider had reached a deal to buy motorbike insurer Bennetts for £26.3m in cash. "We are delighted to add Bennetts to Saga's portfolio of highly-regarded brands," said group chief executive Lance Batchelor. "Bennetts sits perfectly within our business model: a capital light, cash generative business that will seamlessly integrate with our database to quickly deliver tangible returns."

Rightmove and Zoopla were trading lower after Panmure Gordon slapped a 'sell' rating on the pair, concerned that recently-launched rival portal OnTheMarket.com could pose more of a threat that initially anticipated.

Game Digital was a big riser, riding read-through in the gaming sector. Electronic Arts, publisher of FIFA and Madden NFL video games posted better-than-expected quarterly profit and revenue on the back of digital sales and the popularity of its sport titles.

Greencore Group was boosted by a higher price target from Berenberg in a research report released on Wednesday morning. The group’s price target was lifted from 325p to 350p.

Oil producer Afren rebounded only slightly after a sharp plunge in its share price the previous session on the back of funding concerns.

Risers
Saga (SAGA) 183.00p +9.58%
Game Digital (GMD) 278.00p +5.22%
Crest Nicholson Holdings (CRST) 399.30p +5.16%
Greencore Group (GNC) 304.70p +4.35%
Enterprise Inns (ETI) 110.00p +3.97%
Intermediate Capital Group (ICP) 498.50p +3.64%
Redefine International (RDI) 55.00p +3.48%
Spire Healthcare Group (SPI) 317.00p +3.36%
Petrofac Ltd. (PFC) 710.50p +2.97%
Serco Group (SRP) 160.60p +2.75%

Fallers
Booker Group (BOK) 152.00p -4.46%
PayPoint (PAY) 887.00p -4.06%
Rightmove (RMV) 2,366.00p -3.15%
Vedanta Resources (VED) 400.00p -2.63%
Zoopla Property Group (WI) (ZPLA) 185.30p -2.47%
Supergroup (SGP) 956.50p -1.85%
Jardine Lloyd Thompson Group (JLT) 960.50p -1.69%
Mitchells & Butlers (MAB) 424.00p -1.65%
IP Group (IPO) 224.00p -1.58%
CLS Holdings (CLI) 1,506.00p -1.57%