FTSE 250 movers: Berendsen rises again but Hays slumps

Michele Maatouk Sharecast | 19 May, 2017 15:52 | | |

Berendsen, washroom services

London's FTSE 250 was up 0.6% to 19,809.50 in afternoon trade.

Commercial laundry company Berendsen was racking up healthy gains for the second day in a row after it rejected a new £2.05bn bid by French rival Elis, saying it was "opportunistic".

Senior got a boost as Raymond James upgraded the stock to 'strong buy' from 'market perform' and introduced a price target of 260p. It said the company is likely to have reached the end of a stream of small profit warnings since 23 April 2015. The new target price implies a total shareholder return of 29% over the next 12 months.

SIG was boosted by an upgrade from Peel Hunt, while Safestore advanced after saying it has refinanced its US private placement notes (USPP) and amended bank facilities to extend the average maturity and lower the cost of the group's debt management by £3m a year.

Recruiter Hays was on the back foot, with traders pointing to news that Google is planning to launch a US jobs search engine.

Travel operator Thomas Cook slid after Barclays downgraded the stock to 'equalweight' from 'overweight' following the recent re-rating as it has almost reached its 100p price target. In addition, it noted that the company has outperformed TUI and the FTSE 250 and pointed to the ongoing challenging market, the lack of an imminent catalysts and concerns around the UK consumer.

Risers

Berendsen (BRSN) 1,108.00p 5.93%
Senior (SNR) 234.80p 5.67%
Petra Diamonds Ltd.(DI) (PDL) 135.20p 4.24%
Sophos Group (SOPH) 408.70p 4.07%
Renishaw (RSW) 3,524.00p 4.04%
SIG (SHI) 137.20p 3.39%
Safestore Holdings (SAFE) 436.50p 3.09%
Aldermore Group (ALD) 256.60p 2.97%
Kaz Minerals (KAZ) 486.60p 2.77%
WH Smith (SMWH) 1,791.00p 2.46%

Fallers

Hays (HAS) 165.10p -4.73%
Thomas Cook Group (TCG) 91.00p -4.41%
Ashmore Group (ASHM) 336.50p -3.86%
Euromoney Institutional Investor (ERM) 1,175.00p -3.37%
Allied Minds (ALM) 142.10p -2.74%
Pagegroup (PAGE) 474.00p -2.59%
CLS Holdings (CLI) 200.20p -1.86%
Brewin Dolphin Holdings (BRW) 320.90p -1.62%
Dairy Crest Group (DCG) 581.00p -1.53%
IP Group (IPO) 143.60p -1.51%

More news

22 Aug US close: Stocks rise amid tax reform optimism

US stocks ended in the black on Tuesday amid reports of progress on tax reform on Capitol Hill.

22 Aug Europe close: Stocks jump on positive news from the States

Stocks recouped their losses from the previous day on the back of positive newsflow around the White House's tax reform efforts, alongside a dip in the single currency's value as investors bide their time ahead of the start of the US central bank's annual Jackson Hole symposium on Thursday.

22 Aug London close: Stocks jump on US optimism, weaker pound

Shares finished the session higher, after a report stoked optimism that the White House might be making headway in its tax reform efforts and helped along by well-received results from the likes of Persimmon and BHP Billiton, although subprime lender Provident Financial nosedived after another profit warning.

21 Aug MBL Group rockets, says sales process under way

AIM-listed home entertainment, garden and leisure company MBL Group announced on Monday that although its garden and home division reported a 1,600% increase in operating profits, the group still posted a £158,000 after-tax loss.

22 Aug US open: Stocks snap higher on tax reform optimism

Wall Street was bouncing back in early trading, goaded by reports of progress on tax reform on Capitol Hill.

22 Aug Frontera Resources progressing with Block 12 in Georgia

Europe-focussed independent oil and Frontera Resources updated the market on its operations related to ongoing work at Block 12 in Georgia on Tuesday.

22 Aug Frutarom gobbles up Swiss flavour makers Mühlehof Gewürze

Frutarom Industries announced on Monday it had signed an agreement that would see them acquire 100% of Swiss company Mühlehof Gewürze.

22 Aug Atos finalises reseller agreement with Dell

Digital transformation specialists, Atos announced on Tuesday that it had taken steps to further strengthen its relationship with Dell EMC by way of a reseller agreement that would see Dell resell Atos's high-end 8 to 16 sockets x86 Bullion servers.

22 Aug Nostra Terra updates market on Pine Mills situation

Oil and gas exploration and production company Nostra Terra updated the market on its progress to secure the remaining 12.5% stake in the Pine Mills oil field through a non-appealable court judgement against Hammerhead Management Partners on Tuesday.

22 Aug Wednesday preview: WPP results under spotlight, while eurozone and US PMI eyed

Wednesday offers a slight lull in the week, but there is still a barrage of services and manufacturing purchasing managers' index surveys across Europe and from the US, plus results from WPP and Premier Oil.