FTSE 250 movers: Electra rises after Sherborne acquires 10 per cent stake

28th Feb 2014 15:31

Shares in Electra Private Equity rose strongly after Sherborne Investors Management bought a 10 per cent stake in the trust. The investment was made through its Guernsey-registered investment vehicle. Serco Group rose after it was revealed Rupert Soames, the Chief Executive Officer of FTSE 100-listed Aggreko, will be taking over as its own chief later this year. In the wake of yesterday's full-year results, Man Group was today given a lift after Jefferies upgraded the stock to 'hold', "following a strong turn around in flows at GLG", which it said puts its forecasts "back on a slight growth trajectory after 2014". The group yesterday said its funds under management fell 5% to $54.1bn against a year ago.Support services and construction group Interserve climbed on the back of higher profits and the news it was buying Initial Facilities for £250m. Interserve, which manages premises for public and private companies in a range of sectors such as education, broadcasting, justice and health, said headline pre-tax profit rose 7.7% to £81.1m.Meanwhile, Laird, the electronic parts maker, fell after reporting a 1% drop in full-year underlying earnings to £60.1m after operating margins fell to 12.5% from 13.1% a year ago, reflecting the 28% in R&D spending over the term. Technology group Spirent Communications retreated from yesterday's gains which came after it reported a sequential half-year improvement in revenue of 17%, although for the year as a whole it fell.African Barrick Gold tracked the price of the precious metal lower. FTSE 250 - RisersElectra Private Equity (ELTA) 2,750.00p +10.00%Serco Group (SRP) 450.70p +9.71%Man Group (EMG) 104.80p +9.05%Interserve (IRV) 608.00p +5.83%Berendsen (BRSN) 1,049.00p +5.64%Renishaw (RSW) 2,135.00p +5.64%Foxtons Group (FOXT) 400.90p +5.61%Rightmove (RMV) 2,762.00p +5.22%Rentokil Initial (RTO) 132.30p +4.58%Kier Group (KIE) 1,895.00p +4.47%FTSE 250 - FallersFerrexpo (FXPO) 152.60p -6.84%Laird (LRD) 318.00p -3.34%Spirent Communications (SPT) 103.90p -2.62%Oxford Instruments (OXIG) 1,446.00p -2.36%African Barrick Gold (ABG) 285.10p -2.33%CSR (CSR) 748.50p -2.16%Polymetal International (POLY) 636.50p -2.08%Homeserve (HSV) 328.20p -1.47%Entertainment One Limited (ETO) 344.30p -1.35%JD Sports Fashion (JD.) 1,566.00p -1.32%NR