FTSE 250 movers: Kentz rockets after AMEC approach

19th Aug 2013 14:48

The share price of engineering solutions group Kentz Corporation surged on Monday after the company rejected a 565-580p-a-share proposal from AMEC, saying it undervalued the company.The approach values Kentz at around £680m, compared with Friday's market cap of around £560m (476p a share). The company said it had also been approached by Germany's M&W Group about a possible offer, though this was at a lower value than AMEC's.Property website Rightmove and online price comparison group Moneysupermarket.com were making gains this afternoon after Westhouse Securities upgraded its ratings on the stocks to 'add' and 'buy', respectively.Car and bike parts retailer Halfords was also benefitting from analyst comments after JPMorgan Cazenove reiterated its 'overweight' position on the shares. The broker highlighted its new ambitious performance share plan targets which show "the extent of the potential opportunities that the management sees as being available to the group".Leading the downside today were the miners as the sector bore the brunt of reduced risk appetite amongst investors. Hochschild was the worst hit ahead of its interim results on Wednesday with JPMorgan saying that the market is "giving the company too much credit" on its cost reduction programme given the strong rise in the share price so far this month.Sector peers Kazakhmys and EVRAZ were also registering moderate losses today.FTSE 250 - RisersKentz Corporation Ltd. (KENZ) 590.50p +24.08%Rightmove (RMV) 2,358.00p +4.15%Halfords Group (HFD) 368.30p +3.17%Moneysupermarket.com Group (MONY) 165.20p +2.93%Supergroup (SGP) 1,187.00p +2.86%Debenhams (DEB) 108.30p +2.85%Renishaw (RSW) 1,768.00p +2.20%Keller Group (KLR) 1,026.00p +1.89%Thomas Cook Group (TCG) 149.00p +1.85%Vesuvius (VSVS) 468.10p +1.85%FTSE 250 - FallersHochschild Mining (HOC) 230.00p -5.74%Ophir Energy (OPHR) 313.00p -5.15%Kazakhmys (KAZ) 303.70p -4.04%888 Holdings (888) 151.90p -3.43%Computacenter (CCC) 507.50p -3.33%IP Group (IPO) 131.40p -3.31%JPMorgan Indian Inv Trust (JII) 302.50p -3.04%Xaar (XAR) 825.50p -2.88%Dignity (DTY) 1,430.00p -2.79%Evraz (EVR) 119.80p -2.68%BC