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FTSE 250 movers: Cable and Wireless dives 14%

Date: Friday 10 Feb 2012

FTSE 250 movers: Cable and Wireless dives 14%

Telecoms firm Cable & Wireless Communications plunged as the revival of the firm came to an abrupt halt after the company warned on profits this morning due to difficulties in trading in Panama and the Caribbean.

Closed life fund consolidator Phoenix Group also dropped after parting ways with private equity firm CVC Capital Partners. CVC and Phoenix have been discussing a possible bid by the former for the latter since late November 2011 after Phoenix rebuffed a bid approach from sector peer Resolution, but the parties have been unable to agree on a price that pleases both parties.

Real estate investment trust Shaftesbury was falling despite releasing an optimistic statement looking forward to the Olympics. "Within our portfolio, occupancy continues at historically high levels and demand is good for all uses," the company revealed.

HICL an infrastructure investment firm, was making small gains as it saw its net asset value improve from 111.5p per share to 114p over the third quarter, after making £162.4m in new private finance initiative (PFI) investments since the end of September.


FTSE 250 - Risers
Ophir Energy (OPHR) 352.50p +3.71%
Savills (SVS) 367.40p +3.43%
Kenmare Resources (KMR) 53.10p +3.11%
Homeserve (HSV) 252.20p +2.81%
Imagination Technologies Group (IMG) 633.00p +2.76%
PayPoint (PAY) 569.50p +2.52%
Rotork (ROR) 1,923.00p +1.85%
Dairy Crest Group (DCG) 336.80p +1.72%
Aveva Group (AVV) 1,741.00p +1.40%
Dunelm Group (DNLM) 495.70p +1.37%

FTSE 250 - Fallers
Cable & Wireless Communications (CWC) 37.40p -14.16%
New World Resources A Shares (NWR) 507.00p -6.11%
Ferrexpo (FXPO) 335.40p -5.17%
Tullett Prebon (TLPR) 312.10p -4.99%
Kesa Electricals (KESA) 81.20p -4.53%
Perform Group (PER) 258.00p -4.52%
Invensys (ISYS) 211.80p -4.03%
Ocado Group (OCDO) 106.30p -3.89%
International Personal Finance (IPF) 205.30p -3.89%
Renishaw (RSW) 1,435.00p -3.82%

NR

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