FTSE 250 Movers: Thomas Cook is ready for take-off

28th Nov 2011 14:48

Shares in troubled tour-operator Thomas Cook shot up on Monday morning in reaction to news issued late on Friday that the cash-strapped firm has reached an agreement with its bankers to provide the company with a new lending facility.Shares were up nearly 50% in the first half-hour of trading to 27p.The firm's banks have agreed to provide a new £200m facility available until 30 April 2013, which replaces the £100m short-term facility announced on 21 October 2011. Credit Suisse has said that it considers that the arrangements are a 'positive', but cautions that, "clarity on the group's financial outlook remains very uncertain," adding that there are still several sources of medium-term uncertainty. Cable & Wireless was on the rise after it was reported that the firm has pulled out of a pilot scheme to provide broadband to the Highlands and Islands area of Scotland. Technology web site ZDNet reported that the news comes after two other firms, Geo and Fujitsu, backed away from making a bid. WS Atkins, the engineering and design consultancy, was also on the rise after it was announced that it has been awarded a five-year contract worth more than £65m by Ashghal, the Public Works Authority of Qatar. Meanwhile, money-printing firm De la Rue was falling despite the Telegraph publishing a report which said that the firm's reputation has been restored after its rival Oberthur is rumoured to be gearing up to enter a takeover bid for the company. In an interview with the paper, De La Rue's chief executive Tim Cobbold said: "Let's face it, we had a very difficult time last year and what you're seeing now is the underlying strength of the business - De La Rue's reputation is absolutely intact." FTSE 250 - RisersThomas Cook Group (TCG) 22.00p +22.09%Ferrexpo (FXPO) 286.10p +11.15%Talvivaara Mining Company (TALV) 223.10p +10.56%International Personal Finance (IPF) 186.00p +9.35%Henderson Group (HGG) 109.80p +7.65%Kenmare Resources (KMR) 34.18p +7.05%Cable & Wireless Worldwide (CW.) 15.90p +6.85%Logica (LOG) 75.35p +6.80%New World Resources A Shares (NWR) 439.50p +6.73%EnQuest (ENQ) 90.95p +6.19%FTSE 250 - FallersDe La Rue (DLAR) 914.50p -2.30%JD Sports Fashion (JD.) 700.50p -1.75%Fidessa Group (FDSA) 1,545.00p -1.65%Electra Private Equity (ELTA) 1,406.00p -0.78%Ocado Group (OCDO) 84.10p -0.77%Dignity (DTY) 806.50p -0.74%Savills (SVS) 282.90p -0.70%RPS Group (RPS) 178.50p -0.61%SDL (SDL) 638.00p -0.55%Booker Group (BOK) 74.65p -0.53%NR