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FTSE 250 movers: Ninety One surges; China-related stocks slide
(Sharecast News) - FTSE 250 (MCX) 23,332.22 0.22%
Ninety One rose after it said assets under management increased to £159.8bn in the third quarter, from £152.1bn at the end of September.
Impax Environmental Markets on Friday became the latest trust to preempt a potential takeover by activist investor Saba as it tabled a continuation tender offer for up to 100% of its stake, sending its shares 5% higher.
The offer is conditional on Saba - which holds a 20.7% stake worth around £158m - offloading most or all of its shares, but giving existing shareholders a chance to stay with the fund. If it refuses Impax will put forward a second "exit" offer as it believes Saba, "an activist with a short-term investment horizon" may be aiming to take control.
Animal genetics specialist Genus surged as it lifted guidance on the back of robust trading.
The company said it had performed "strongly" in the six months to 31 December, and now expects adjusted pre-tax profits to come in around £50m in actual currency, ahead of internal forecasts. Including a milestone payment from Beijing Capital Agribusiness (BCA), interim profits are expected to be £55.6m.
Looking further ahead, the firm also flagged full-year profits were now tracking "moderately" above the top end of current market expectations.
Miners and specialist China funds fell as copper prices fell on reports that Chinese regulators have ordered exchanges to remove servers operated by high frequency traders from their data centres.
FTSE 250 - Risers
Genus (GNS) 2,810.00p 6.84% Ninety One (N91) 240.80p 5.34% Impax Environmental Markets (IEM) 428.00p 5.16% AEP Plantations (AEP) 1,500.00p 4.90% Close Brothers Group (CBG) 530.00p 4.02% Ashmore Group (ASHM) 233.40p 3.55% Oxford Instruments (OXIG) 2,405.00p 3.44% Watches of Switzerland Group (WOSG) 493.20p 3.27% Gamma Communications (GAMA) 921.00p 3.14% Rathbones Group (RAT) 2,220.00p 3.02%
FTSE 250 - Fallers
RTW Biotech Opportunities Ltd (RTW) 2.15p -3.59% BlackRock World Mining Trust (BRWM) 928.00p -2.83% Fidelity China Special Situations (FCSS) 324.00p -1.82% Travis Perkins (TPK) 667.00p -1.62% Playtech (PTEC) 276.50p -1.60% Endeavour Mining (EDV) 4,042.00p -1.56% IP Group (IPO) 57.40p -1.54% B&M European Value Retail S.A. (DI) (BME) 168.30p -1.43% Diversified Energy Company (DI) (DEC) 937.00p -1.37% Breedon Group (BREE) 335.20p -1.35%
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