FTSE 250 movers: Tullet Prebon jumps on CEO speculation

3rd Jun 2014 14:23

London-based interdealer broker Tullett Prebon jumped on speculation it could soon announce a successor to long-running Chief Executive Officer Terry Smith. According to reports, Smith, a well-known financial executive in the City, is thought to be planning to work full time at Fundsmith, the asset management company he started four years ago.Furthermore, Analyst Gary Greenwood from Shore Capital said that while the exit of Smith - "regarded highly by the investment community" - could spark concerns among investors, "his departure may leave the company vulnerable to a takeover in an industry where the need to consolidate is arguably increasing".Wood Group inched higher after revealing its offshore engineering, subsea and pipeline division, Wood Group Kenny (WGK), has won a £36m contract with BP in Azerbaijan.Beazley was also on the up after Berenberg lifted the group to 'buy' from 'hold', and raised its target from 271p to 278p. Meanwhile, newly floated estate agent Foxtons dropped after announcing that Chief Executive Michael Brown is quitting for personal reasons.South West Water owner Pennon declined despite unveiling higher annual profits and dividends, as the company said its Viridor landfill and waste recycling business took a hit from cut-throat pricing by rivals. Espirito Santo reiterated its 'neutral' stance on Fenner, but pushed it lower after cutting its target price from 400p to 337p.Out-of-town retail and warehouse property group LondonMetric fell after it reported a profit of £125.3m and said the market in the second half of the year has strengthened and rational pricing has returned across the UK. FTSE 250 - RisersTullett Prebon (TLPR) 302.70p +4.31%CSR (CSR) 615.00p +3.36%Cairn Energy (CNE) 205.90p +2.44%Hellermanntyton Group (HTY) 315.80p +2.04%Synergy Health (SYR) 1,310.00p +1.39%Workspace Group (WKP) 584.50p +1.21%Oxford Instruments (OXIG) 1,363.00p +1.19%Diploma (DPLM) 652.00p +1.09%COLT Group SA (COLT) 142.80p +1.06%IP Group (IPO) 181.10p +1.06%FTSE 250 - FallersFoxtons Group (FOXT) 311.10p -5.67%African Barrick Gold (ABG) 213.50p -4.09%Imagination Technologies Group (IMG) 224.30p -3.98%Pace (PIC) 351.80p -3.59%Rightmove (RMV) 2,213.00p -3.45%Fenner (FENR) 337.50p -3.38%Pennon Group (PNN) 758.00p -3.25%Thomas Cook Group (TCG) 159.50p -3.22%AL Noor Hospitals Group (ANH) 1,015.00p -3.15%FirstGroup (FGP) 136.40p -2.71%NR