FTSE 250 movers: Rank boosted by broker recommendation

18th Jul 2011 14:27

Bingo hall and casino operator Rank Group was the top riser on the mid-cap stock index after brokerage firm Panmure Gordon reinstated its "buy" recommendation on the company, saying that it remains "a compelling investment proposition."On Monday, Rank announced that Guoco's offer closed with 74.5% acceptances for its 150p-a-share offer and retained its listing in London after narrowly avoiding the 75% threshold.Online gambling industry is set to experience a regulatory change after the UK Treasury said it will consider a new regulatory regime for online gambling, which would lead to more firms liable for British tax.Shares of Betfair Group fell 3.8%, while its larger peers William Hill and Ladbrokes also lost ground. Department store chain Debenhams refinanced its credit facility at reduced interest rates, while travel operator Thomas Cook has extended its credit facility, with the interest margin on the facilities reduced with immediate effect. Shares of both the companies were trading lower.FTSE 250 - RisersRank Group (RNK) 156.30p +3.51%Daejan Holdings (DJAN) 2,998.00p +3.02%Centamin Egypt Ltd. (CEY) 138.70p +2.14%Misys (MSY) 390.70p +1.82%Hochschild Mining (HOC) 504.00p +1.53%PZ Cussons (PZC) 365.00p +1.36%Beazley (BEZ) 128.00p +1.19%F&C Commercial Property Trust Ltd. (FCPT) 103.50p +1.07%Renishaw (RSW) 1,797.00p +0.96%UK Commercial Property Trust (UKCM) 80.25p +0.94%FTSE 250 - FallersInchcape (INCH) 376.90p -7.42%Ashtead Group (AHT) 156.70p -5.32%Kenmare Resources (KMR) 53.95p -4.51%Micro Focus International Plc (MCRO) 300.90p -4.14%Punch Taverns (PUB) 68.30p -3.94%Betfair Group (BET) 621.50p -3.79%TUI Travel (TT.) 183.00p -3.33%St. Modwen Properties (SMP) 179.10p -3.19%Morgan Crucible Co (MGCR) 339.90p -3.19%Hays (HAS) 90.15p -3.17%