Date: Wednesday 20 Jun 2012
Invensys has shot higher after the British maker of rail signaling and industrial automation systems told investors that it is evaluating options including a sale after Emerson Electric expressed interest in buying some or all of the company, people familiar with the situation told Bloomberg.
Chip designer Imagination Technologies was another big gainer after yesterday having announced that it saw notable increases in both royalty and licensing revenues last year, which led to better than anticipated profits. At least four brokers have raised their price target on its shares, including JP Morgan Cazenove and Goldman Sachs. In fact, analysts at these two banks have practically doubled their price targets. Liberum Capital was the exception, it has decided to reiterate its sell recommendation on the firm´s shares.
International Personal Finance seems to have benefitted from the perception that the Bank of England has moved closer to further quantitative easing; following the release of the minutes of the Bank´s last rate setting meeting. This resulted in an increase in risk appetite in financial markets today.
Home Retail gave back a small portion of yesterday´s surge higher, with HSBC downgrading its stance on the stock to neutral from overweight. On Tuesday the company informed investors that Argos´s sales held up in the three months to the start of June after the wettest April in 100 years, delighting investors who expected them to be hit by bad weather. The City consensus was for a 4% fall in like-for-like sales.
FTSE 250 - Risers
Invensys (ISYS) 257.00p +26.60%
Ocado Group (OCDO) 111.90p +7.08%
Laird (LRD) 201.10p +7.08%
International Personal Finance (IPF) 260.20p +6.95%
Man Group (EMG) 77.85p +6.50%
Senior (SNR) 198.60p +5.98%
Imagination Technologies Group (IMG) 482.30p +5.56%
Bovis Homes Group (BVS) 453.40p +5.39%
Mondi (MNDI) 580.00p +5.26%
Intermediate Capital Group (ICP) 270.30p +5.18%
FTSE 250 - Fallers
Home Retail Group (HOME) 87.00p -5.28%
Dairy Crest Group (DCG) 316.00p -4.27%
Carpetright (CPR) 700.00p -3.91%
Dechra Pharmaceuticals (DPH) 483.00p -3.01%
Bumi (BUMI) 339.00p -2.89%
3i Infrastructure (3IN) 120.20p -2.75%
JD Sports Fashion (JD.) 625.50p -2.57%
BBA Aviation (BBA) 199.90p -2.49%
PayPoint (PAY) 722.00p -2.37%
Regus (RGU) 89.55p -2.29%
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