FTSE 250 movers: JD Sports recovers after CEO exit

2nd Jun 2014 14:27

JD Sports Fashion recovered somewhat from last week's losses which came after it announced the exit of Chief Executive Officer Barry Bown. Brownfield land developer St Modwen Properties also rose after it reported that strong momentum has continued with a growing pipeline of development opportunities, and profits and cash flows in line with company expectations.Furthermore, the company could cash in on an upturn in the regional property market and higher land values in London, broker Oriel Securities said. Oriel explained St Modwen could top the broker's forecasts given improving regional property market conditions and the possibility of substantially higher land values at St Modwen's New Covent Garden market site in south London.Entertainment One climbed after it agreed to acquire the Phase 4 Films group of companies, an independent film and television distributor based in Canada and the US. The C$27m purchase price will be satisfied by the issue of 1.4m Entertainment One shares and around C$19.3m in cash. Meanwhile, Fenner was in the red after N+1 Singer cut its target price from 395p to 337p and stayed with its 'hold' recommendation. The group last week issued a profit warning. London real estate advisor Savills fell after it said it has completed the acquisition of US commercial real estate services firm Studley in a deal worth up to $246m. Savills, which currently earns less than 1% of its revenue in the US, is paying for the acquisition with a combination of cash, notes and shares. Nervousness ahead of Tesco's first-quarter results prompted some profit taking among supermarket stocks, including online grocer Ocado.FTSE 250 - RisersJD Sports Fashion (JD.) 1,678.00p +4.03%NMC Health (NMC) 504.50p +4.02%Moneysupermarket.com Group (MONY) 183.00p +3.39%St. Modwen Properties (SMP) 381.00p +3.28%Restaurant Group (RTN) 614.00p +2.68%Entertainment One Limited (ETO) 304.90p +2.63%Berkeley Group Holdings (The) (BKG) 2,314.00p +2.62%CSR (CSR) 608.50p +2.61%Home Retail Group (HOME) 193.10p +2.49%African Barrick Gold (ABG) 222.00p +2.30%FTSE 250 - FallersXaar (XAR) 828.50p -4.11%Just Retirement Group (JRG) 147.60p -3.34%Fenner (FENR) 340.60p -2.69%Redefine International (RDI) 57.65p -2.62%Evraz (EVR) 102.10p -2.58%Pace (PIC) 367.50p -2.05%Senior (SNR) 291.10p -1.72%AL Noor Hospitals Group (ANH) 1,011.00p -1.65%Genus (GNS) 1,053.00p -1.59%Ocado Group (OCDO) 380.60p -1.58%NR