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FTSE 250 movers: Hill & Smith bucks the trend with National Signal deal
(Sharecast News) - The FTSE 250 was down 1.42% to 17,569.86 at 1500 BST. Engineering services company Hill & Smith gained after the firm said it has acquired the business and assets of portable solar construction equipment manufacturer National Signal as part of a deal valued at almost $30.0m.
Hill & Smith will make an initial cash payment of $25.3m for National Signal, on a debt and cash-free basis, with a further cash payment of up to $4.0m payable, conditional on targets being hit in the three years post-acquisition.
The FTSE 250-listed group stated the acquisition of National Signal, located in Fullerton, California, will be funded from its existing banking facilities.
Tullow Oil was up on reports that OPEC+ could cut production in an effort to boost crude prices.
Property firms were under more pressure on fears of more interest rate rises, with Capital & Counties, Urban Logistics REIT, UK Commercial Property REIT and Warehouse REIT all lower.
FTSE 250 - Risers
Hilton Food Group (HFG) 594.00p 5.69% Hill & Smith Holdings (HILS) 1,020.00p 5.05% Tullow Oil (TLW) 47.18p 4.33% Vietnam Enterprise Investments (DI) (VEIL) 636.00p 3.58% Syncona Limited NPV (SYNC) 184.80p 2.67% Polymetal International (POLY) 203.00p 2.27% Essentra (ESNT) 224.50p 2.05% Bellevue Healthcare Trust (Red) (BBH) 173.20p 2.00% Hochschild Mining (HOC) 61.80p 1.39% Baillie Gifford Japan Trust (BGFD) 738.00p 1.37%
FTSE 250 - Fallers
UK Commercial Property Reit Limited (UKCM) 57.20p -6.23% ASOS (ASC) 558.50p -5.66% Assura (AGR) 50.90p -5.39% Synthomer (SYNT) 109.20p -5.37% CLS Holdings (CLI) 144.00p -5.26% Urban Logistics Reit (SHED) 130.00p -5.11% Capital & Counties Properties (CAPC) 102.20p -5.11% Moneysupermarket.com Group (MONY) 182.40p -4.90% Warehouse Reit (WHR) 118.00p -4.84% GCP Infrastructure Investments Ltd (GCP) 98.60p -4.83%
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