FTSE 250 movers: Investors hail Rentokil divestment

16th Dec 2016 15:51

(ShareCast News) - London's second tier index was up by 0.22% or 39.52 points at 17,808.87. Shares in pest control specialist Rentokil were among the best performing issues, after the Camberley-based outfit agreed to a combination of its Workwear and Hygiene divisions with Germany's Haniel & Cie Holding Co., receiving in exchange around €520m in cash and a stake of around 18% in the joint-venture.PZ Cussons was bouncing back alongside a day after reporting interim profits, having told shareholders trading was in-line with expectations, with flat profits expected. Commenting on the personal healthcare product manufacturer's most recent set of figures, analysts at HSBC said the stock was changing hands at less than its long-run average multiples, on an estimated price-to-earnings multiple for calendar year 2017 of 17.3. Nonetheless, the broker expressed caution due to the challenging situation in one of the company's main markets, Nigeria.GVC Holdings continued to rally after guiding investors higher on full-year revenues and operating profits, while announcing a 49% increase in its special dividend. In the absence of M&A, investors can expect top ups via a special dividend, Canaccord Genuity analyst Simon Davies said. The analyst added: "And management has a strong track record on M&A, in a sector where we expect ongoing industry consolidation."Hochschild Mining was at the bottom of the pile as investors moved to price-in the recent drop in the price of gold on the back of higher interest rates in the States and a stronger greenback. FTSE 250 - RisersCMC Markets (CMCX) 114.80p 12.55%Cobham (COB) 174.50p 5.89%Evraz (EVR) 270.70p 5.04%Aldermore Group (ALD) 233.30p 4.67%Brown (N.) Group (BWNG) 217.60p 4.36%Rentokil Initial (RTO) 220.40p 4.31%PZ Cussons (PZC) 319.60p 3.50%Genus (GNS) 1,814.00p 3.07%Centamin (DI) (CEY) 118.40p 3.05%JRP Group (JRP) 145.10p 2.98%FTSE 250 - FallersHochschild Mining (HOC) 213.20p -5.08%International Personal Finance (IPF) 166.30p -4.43%Just Eat (JE.) 575.50p -4.00%Auto Trader Group (AUTO) 389.70p -3.32%Kaz Minerals (KAZ) 367.90p -2.72%Rightmove (RMV) 3,733.00p -2.33%Zoopla Property Group (ZPLA) 315.00p -2.20%NCC Group (NCC) 172.70p -2.15%Petrofac Ltd. (PFC) 873.50p -2.13%GVC Holdings (GVC) 649.50p -2.04%