FTSE 250 movers: Tate & Lyle rises on M&A speculation

25th Apr 2014 15:14

Tate & Lyle extended yesterday's gains on the back of renewed M&A speculation, which has seen a talk circulate in relation to US peer Bunge. Price comparison website Moneysupermarket.com recovered from losses seen earlier in the week, which came after it reported a flat start to the second quarter. UBS AG yesterday gave the stock a slight boost after increasing its price target from 185p to 190p. UBS has upgraded Ophir Energy from 'neutral' to 'buy', saying that it sees some exploration upside after a tough year and a half for the company. The bank said that the stock is "deeply out of favour ... too deep". It said that Ophir's remaining exploration programme still has "company making upside".Telecoms group Cable & Wireless Communications also rose after it sold its stake in Monaco Telecom to French entrepreneur Xavier Neil for $445m. The British group, which has sold a string of businesses outside its primary focus of Central America, initially agreed to sell its stake to telecoms group Bahrain Batelco, but the deal collapsed last year.Meanwhile, manufacturing group Rotork fell after it reported currency headwinds and lower orders in the first quarter. However, the company, which makes electric, pneumatic and hydraulic valve actuators and gearboxes, said that revenues reached a record level in the first quarter and were 2.4% higher than the prior period.Spectris, the industrial instrumentation and controls company, also declined after said that currency movements pushed revenues lower in the first quarter, although like-for-like sales were ahead of last year. Reported sales were down 1% in the first three months of 2014, with foreign exchange having a 6% negative impact, offsetting the positive 1% contribution from acquisitions.FTSE 250 - RisersTate & Lyle (TATE) 705.50p +5.38%Moneysupermarket.com Group (MONY) 184.40p +3.02%Ophir Energy (OPHR) 241.00p +2.99%Ladbrokes (LAD) 140.00p +2.64%Centamin (DI) (CEY) 64.00p +2.40%Premier Oil (PMO) 319.30p +1.85%Wetherspoon (J.D.) (JDW) 863.50p +1.59%PZ Cussons (PZC) 349.70p +1.54%Ashmore Group (ASHM) 351.70p +1.33%EnQuest (ENQ) 131.50p +1.31%FTSE 250 - FallersWorkspace Group (WKP) 577.50p -3.75%Man Group (EMG) 97.45p -3.13%Big Yellow Group (BYG) 517.00p -3.09%Entertainment One Limited (ETO) 301.60p -3.05%Xaar (XAR) 840.00p -2.89%Imagination Technologies Group (IMG) 191.70p -2.89%Laird (LRD) 287.30p -2.68%Smith (DS) (SMDS) 313.30p -2.49%Ocado Group (OCDO) 334.70p -2.48%Polymetal International (POLY) 596.50p -2.29%NR