FTSE 250 movers: Berendsen rises again but Hays slumps

Michele Maatouk WebFG News | 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

07:34 Investec admits Steinhoff exposure could make 3pc dent in profits

Investec said it has "immaterial exposure" to South African retail giant Steinhoff International, which caused alarm for its lenders after its shares fell 80% last week, though though some derivatives exposure could put a dent in profits.

10 Dec Commodities: WTI moves higher despite small rise in US oil rig count

At the closing bell, the Bloomberg commodity index was ahead by 0.25% to 84.01, at roughly a two-month low, alongside a 0.11% advance for the US dollar spot index to 93.90.

10 Dec US close: Dow Industrials, S&P 500 finish week at record highs

The Dow Jones Industrials and S&P 500 finished the week at record highs with commodity stocks pacing gains on the back of strong Chinese trade data for the month of November, even as the latest monthly jobs report revealed wage growth fell short of forecasts once again.

10 Dec Week ahead: Central banks, China in focus

Central banks will be firmly in the spotlight over the coming week, alongside a barrage of economic data out of China and Japan.

10 Dec Director dealings: Boohoo.com directors buy-in

Boohoo's finance chief, Neil Catto, purchased 14,306 of ordinary stock in the firm at an average price of 174.51p on 8 December.

10 Dec Sunday share tips: Croda International, Dignity, Warpaint London

Shares in Croda International are also an "avoid" for Questor in the Sunday Telegraph. The company manufactures speciality and industrial chemicals used in many everyday items such as cosmetic creams, dietary supplements, foods, plastic bags and motor vehicles. It has progressed far since its days of refining grease from sheep's wool to make lanolin by employing clever people and rewarding them well, including with a final salary pension scheme, which is all part of management taking a long-term view and investing millions each year in research and development.

10 Dec Sunday newspaper round-up: Retail M&A, Unilever, Brexit trade deal, bitcoin, Apple

The City is beginning to talk excitedly about the prospect of a flurry of deals in UK retail as many of the big names seriously struggle, with the tipping being the expected green light for Tesco's takeover of wholesaler Booker. A tie-up between Marks & Spencer and Sainsbury’s is one, but senior retailers insist almost anything is possible in the current climate, involving Next, Morrisons, Asda or the long-rumoured merger of Debenhams and House of Fraser. - Sunday Telegraph

08 Dec Europe close: Stocks run higher on strong Chinese data, Basel III bank rules

Stocks finished higher, led by a big push in bank stocks following news of a compromise on global financial sector regulation and on the heels of positive Chinese export data for November.

08 Dec London close: Weak pound, Chinese trade data boost Footsie

London stocks jumped at the end of the week, helped by weakness in the pound and as investors digested better than expected Chinese trade data.

08 Dec Banks jump on more favourable Basel III 'output floor' rule

Global financial regulators have agreed on the final element of the new capital rules under the Basel III regulatory framework which are less stringent than feared, delivering a boost to lenders' shares on both side of the Atlantic.