LONDON (ShareCast) - Orbis, which owns around a fifth of Cable & Wireless Worldwide stock, said it would not try to block a takeover bid for the firm by Vodafone, boosting shares early on. Despite initially saying the offer of 38p a share was too low, Orbis said it now believed the deal was inevitable.
Engineering buy-out firm Melrose has confirmed speculation that it is in discussions to buy German group Elster, sending shares lower. Reports said the deal could be worth over $2bn, but the firm is so far keeping the terms of any deal to itself.
Diamond producer Gem Diamonds dropped after it revealed that production at its Ghaghoo project in Botswana will commence later than originally expected, as 'adverse ground conditions' resulted in the death of two contractors on site.
FTSE 250 - Risers
Cable & Wireless Worldwide (CW.) 37.79p +7.88%
Dixons Retail (DXNS) 13.57p +4.46%
Home Retail Group (HOME) 72.90p +4.37%
Filtrona PLC (FLTR) 457.80p +4.14%
Bwin.party Digital Entertainment (BPTY) 119.90p +3.81%
Ferrexpo (FXPO) 207.90p +2.77%
Mitie Group (MTO) 270.50p +2.77%
Dechra Pharmaceuticals (DPH) 485.30p +2.38%
De La Rue (DLAR) 991.50p +2.37%
Lonmin (LMI) 776.50p +2.31%
FTSE 250 - Fallers
Regus (RGU) 91.05p -6.62%
Petropavlovsk (POG) 463.60p -6.25%
New World Resources A Shares (NWR) 314.30p -5.42%
Genus (GNS) 1,135.00p -5.02%
Talvivaara Mining Company (TALV) 159.40p -4.67%
Grainger (GRI) 82.80p -4.50%
Personal Assets Trust (PNL) 34,420.00p -4.39%
Gem Diamonds Ltd. (DI) (GEMD) 200.30p -4.16%
BBA Aviation (BBA) 204.80p -4.12%
SIG (SHI) 93.55p -4.10%
NR
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