LONDON (ShareCast) - Private equity group 3i Group rose into the top spot after it said it was starting the year with good momentum and ambitious plans, after unveiling results that showed an encouraging improvement in net asset value (NAV).

With private equity realisations reaping £669m, up 43% over opening value, the group also achieved strong levels of realisations and made further inroads in cutting costs, which enabled a cash profit of £5m for the year.

Investors at Partnership Assurance made a show of faith on Wednesday, pushing the share price firmly higher despite the company admitting that the pension overhaul in this year's Budget has caused 'significant disruption' within its core annuities market. Panmure Gordon gave it a lift after upping its target price from 152p to 175p and staying with its 'buy' recommendation.

Meanwhile, British engineering company Renishaw dropped after it posted a fall in pre-tax profit, to £14.4m from £15.9m due to currency headwinds. Investec placed both its target price (prev.: 1,940p) and its 'hold' recommendation under review.

Housebuilders were in the red today following decent gains yesterday, which were led higher by Taylor Wimpey after the housebuilder set out ambitious medium-term targets and confirmed a generous new cash return policy.

Interdealer broker ICAP dropped after it reported a decline in full-year revenue against a backdrop of challenging market conditions, which included regulatory changes, bank deleveraging, muted interest rates, the LIBOR rate-rigging scandal and foreign exchange rate volatility.


FTSE 250
3i Group (III) 403.20p +6.58%
Imagination Technologies Group (IMG) 206.20p +3.98%
Partnership Assurance Group (PA.) 128.50p +3.46%
Booker Group (BOK) 154.90p +2.99%
Stagecoach Group (SGC) 374.10p +2.02%
NMC Health (NMC) 472.50p +1.83%
Vesuvius (VSVS) 438.50p +1.74%
St. Modwen Properties (SMP) 379.40p +1.72%
JD Sports Fashion (JD.) 1,731.00p +1.64%
Wood Group (John) (WG.) 780.00p +1.36%

FTSE 250 - Fallers
Renishaw (RSW) 1,739.00p -5.44%
Carillion (CLLN) 351.70p -4.22%
Berkeley Group Holdings (The) (BKG) 2,322.00p -3.25%
Bank of Georgia Holdings (BGEO) 2,419.00p -3.24%
Ocado Group (OCDO) 325.00p -2.87%
Rightmove (RMV) 2,304.00p -2.66%
Howden Joinery Group (HWDN) 340.50p -2.60%
Alent (ALNT) 320.50p -2.55%
COLT Group SA (COLT) 141.10p -2.22%
Redrow (RDW) 279.00p -2.11%

NR

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