FTSE 250 movers: Bank of Georgia higher on strong quarter

20th May 2015 12:58

London stocks were trading slightly lower on Wednesday as strong performances from mining and telecommunications stocks were outweighed by weakness in the utility and real estate sectors.As of 3:00, the FTSE 250 was trading 66 points lower at 16,121.Allied Minds topped the fallers on reports that Invesco raised £90.4m from selling shares in the investment firm at a price of just 565p per share, compared with Tuesday's closing price of 634.60p.Fizzy drinks producer Britvic was in the red despite beating forecasts with its interim earnings as the departure of its finance director sparked investor uncertainty.Bank of Georgia led the risers as it reported a higher first quarter profit, driven by an increase in lending and by the acquisition of Privatbank.Financial group Intermediate Capital surged on strong annual results, an ongoing return of cash and assets under management lifting 39% thanks to strong levels of fundraising.Repair and insurance company HomeServe was trading higher after announcing that it will pay its shareholders a special dividend of 30p per share in July, as it posted an adjusted pretax profit of £85.4m from £84.1m last year. "We have grown our profit, whilst at the same time significantly increasing marketing investment in the USA," said chief executive Richard Harpin.Aveva was boosted as JPMorgan Cazenove raised its stance on the stock to 'neutral' from 'underweight' and upped its target price to 1850p from 1220p.William Hill also benefited from positive broker sentiment as UBS lifted its target price to 440p from 400p and commented that risk was low due to minimal exposure to retail markets.RisersBank of Georgia Holdings (BGEO) 1,783.00p +5.01%Renishaw (RSW) 2,542.00p +3.12%Aveva Group (AVV) 1,983.00p +3.01%IP Group (IPO) 216.00p +2.81%Homeserve (HSV) 428.00p +2.37%Morgan Advanced Materials (MGAM) 342.50p +2.36%Crest Nicholson Holdings (CRST) 535.50p +2.29%William Hill (WMH) 415.10p +2.27%TalkTalk Telecom Group (TALK) 400.80p +2.24%Telecity Group (TCY) 1,106.00p +2.22%FallersAllied Minds (ALM) 600.00p -7.69%Great Portland Estates (GPOR) 833.00p -4.85%Britvic (BVIC) 730.50p -4.63%Imagination Technologies Group (IMG) 201.90p -3.86%Kier Group (KIE) 1,310.00p -2.89%Tate & Lyle (TATE) 596.00p -2.85%Ophir Energy (OPHR) 133.80p -2.48%Evraz (EVR) 181.50p -2.47%Elementis (ELM) 306.10p -2.45%Paragon Group Of Companies (PAG) 434.10p -2.45%