FTSE 250 movers: Cobham sinks as unnamed shareholder sells shares

4th Jun 2013 15:01

Defence and aerospace group Cobham was in the red after a late report last night said an unnamed 'institutional investor' sold 39.1m shares in the company via a placing, equal to a 3.6 per cent stake. The sale, valued at £111m, was priced at a 4.4% discount to last night's close, according to Bloomberg.Leading the upside today was New World Resources, the Central European hard coal and coke producer, which rebounded strongly after hitting a 52-week and all-time low of 97.05p yesterday. Even including today's bounce, the stock has lost nearly 70% since the start of 2013 on the back of tough conditions in global coking coal markets and lowered production guidance for the current year.Hedge-fund manager Man Group was also a high riser, rebounding after hitting a one-month low yesterday. Panmure Gordon said yesterday that the group is now at the bottom of its earnings cycle, as it reiterated its 'buy' rating for the stock. The broker is looking for "strong recovery in profits" in the current year.Housebuilding and construction firm Galliford Try edged higher after saying it has won a £36m contract to refurbish the Alphabeta office building in Central London.Gold miners African Barrick Gold and Petropavlovsk were in the red, tracking the price of the yellow metal lower. Investec trimmed its 2013 forecast for the price of gold today from $1,675 an ounce to just $1,400 an ounce.FTSE 250 - RisersNew World Resources A Shares (NWR) 105.00p +8.19%Anite (AIE) 132.20p +5.00%Man Group (EMG) 118.40p +4.23%IG Group Holdings (IGG) 600.00p +3.27%3i Group (III) 345.30p +3.11%Diploma (DPLM) 546.50p +3.11%NMC Health (NMC) 305.00p +3.04%Bellway (BWY) 1,301.00p +2.85%Rentokil Initial (RTO) 90.90p +2.77%AZ Electronic Materials SA (DI) (AZEM) 320.90p +2.69%FTSE 250 - FallersCobham (COB) 272.40p -4.79%Petropavlovsk (POG) 131.20p -4.23%FirstGroup (FGP) 120.10p -3.46%Lancashire Holdings (LRE) 761.00p -3.00%Kentz Corporation Ltd. (KENZ) 392.90p -2.75%Domino Printing Sciences (DNO) 651.50p -2.47%African Barrick Gold (ABG) 135.40p -2.24%Carpetright (CPR) 620.50p -1.74%Hochschild Mining (HOC) 239.40p -1.52%Keller Group (KLR) 930.00p -1.48%