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FTSE 250 movers: HomeServe surges on takeover report; Marshalls slumps
(Sharecast News) - London's FTSE 250 was up 1.3% at 19,626.33 in afternoon trade on Wednesday. HomeServe shares shot to the top of the index following a report that Canada's Brookfield Asset Management is nearing a takeover of the household repairs provider. According to Bloomberg, the deal is set to value HomeServe at about $5bn and would be one of the UK's largest take-private transactions this year.
Watches of Switzerland was also sharply higher after an upgrade to 'buy' at Goldman Sachs.
CLS Holdings gained after it updated its dividend policy and said it continues to trade in line with market expectations.
Following the conversion of its UK business to a real estate investment trust (REIT), the office space specialist said it was maintaining a progressive dividend policy, with a dividend cover of 1.2 to 1.6 times EPRA earnings, versus 1.5 to 2.0 times previously. CLS expects that FY2022 dividend cover will be around the middle of the new range.
Landscaping products supplier Marshalls was weaker despite reporting higher revenue in the first four months of the year against strong comparators in 2021 as people took on home improvement projects during Covid pandemic lockdowns.
LXI Reit was also down after agreeing to take over Secure Income REIT in a £1.5bn deal.
FTSE 250 - Risers
Homeserve (HSV) 1,103.00p 13.24% Watches of Switzerland Group (WOSG) 923.50p 7.76% CLS Holdings (CLI) 206.50p 7.33% SSP Group (SSPG) 221.60p 6.64% Tullow Oil (TLW) 53.20p 5.45% 3i Infrastructure (3IN) 358.50p 5.44% TI Fluid Systems (TIFS) 168.60p 5.37% Wizz Air Holdings (WIZZ) 3,027.00p 5.07% Discoverie Group (DSCV) 733.00p 5.01% Moonpig Group (MOON) 216.20p 4.95%
FTSE 250 - Fallers
Marshalls (MSLH) 537.50p -8.74% LXI Reit (LXI) 136.80p -3.80% Polymetal International (POLY) 252.70p -2.81% Darktrace (DARK) 410.90p -1.96% Baillie Gifford US Growth Trust (USA) 164.80p -1.79% UK Commercial Property Reit Limited (UKCM) 85.00p -1.73% Vivo Energy (VVO) 146.60p -1.61% Capricorn Energy (CNE) 205.00p -1.44% Urban Logistics Reit (SHED) 172.00p -1.15% CMC Markets (CMCX) 273.50p -1.08%
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