FTSE 250 movers: Greece, M&A activity fuels optimism

29th Jun 2011 15:25

World markets rejoiced after the Greek parliament voted in favour of the much needed but highly controversial austerity plan in order to receive the fifth instalment of the bailout package, while closer to home, merger activity lifted the mid-cap stock index.Shares of Charter International sky rocketed 27%, surpassing engineering conglomerate Melrose's proposed offer price of 780 a share. Charter was the top flyer on the index. Some industry experts painted a rosy picture of Cable & Wireless Worldwide as a merger target, following the cost cutting program by the company's new chief executive John Pluthero. Following closely behind was online gaming company Bwin.party Digital Entertainment and oil explorer Exillon Energy, which hit oil in a well in West Siberia. However, consumer stocks featured on the downside. Premier Foods, which sells brands like Hovis, Bisto and Branston, tumbled into the red on refinancing concerns. Peers Dixons Retail, automotive and cycling retailer Halfords Group and Carpetright also dragged on the index. FTSE 250 - RisersCharter International (CHTR) 782.00p +27.15%Bwin.party Digital Entertainment (BPTY) 148.00p +11.28%Exillon Energy (EXI) 435.70p +8.87%Senior (SNR) 176.70p +8.74%Cookson Group (CKSN) 656.50p +6.57%Talvivaara Mining Company (TALV) 431.20p +5.22%Cable & Wireless Worldwide (CW.) 47.33p +5.18%Ashtead Group (AHT) 168.00p +5.00%Bodycote (BOY) 358.40p +4.95%Morgan Crucible Co (MGCR) 299.80p +4.28%FTSE 250 - FallersPremier Foods (PFD) 23.85p -6.76%Enterprise Inns (ETI) 64.50p -3.01%Cranswick (CWK) 728.00p -2.74%Halfords Group (HFD) 377.80p -2.73%Homeserve (HSV) 497.10p -2.43%Fidessa Group (FDSA) 1,910.00p -2.20%Bellway (BWY) 707.50p -2.14%Carpetright (CPR) 653.50p -2.10%Micro Focus International Plc (MCRO) 335.60p -1.84%Taylor Wimpey (TW.) 36.24p -1.79%