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FTSE 250 movers:Premier Farnell plummets on weak outlook, Rexam up on M&A interest

Thu, 05th Feb 2015 14:57

Electronics group Premier Farnell sank after warning that its full-year operating profit for 2015 would be lower than in the previous 12 months. The company cited discounting of the credit-card sized computer Raspberry Pi and strategic initiatives as the main factors weighing on its gross margins, while it warned in November that its full-year operating profit would be affected by challenging market conditions in Europe and Asia.Rexam's share price surged after the beverage can maker confirmed rumours that it has been approached by Ball Corporation. Ball Corporation, the American group which provides metal packaging for beverages, food and household products, has proposed a acquisition which values Rexam at 610p per share, or £4.3bn.Beazley saw share prices sink as lower reserve releases than its five-year average and currency headwinds drove a 16% decline in pre-tax profit in 2014. The company's annual results also caused Westhouse Securities to place its'neutral' rating on the stock under review.Victrex was extending losses made Thursday after underwhelming with its first-quarter statement, in which it said it had made a "solid start to 2015" with revenues up 14% year-on-year. RisersRexam (REX) 545.00p +21.76%Lonmin (LMI) 185.90p +7.89%AL Noor Hospitals Group (ANH) 983.50p +6.04%Hunting (HTG) 483.20p +5.92%Vedanta Resources (VED) 471.00p +4.85%Allied Minds (ALM) 455.00p +4.60%Petrofac Ltd. (PFC) 772.50p +4.04%Bank of Georgia Holdings (BGEO) 2,143.00p +3.73%Aveva Group (AVV) 1,434.00p +3.17%Cable & Wireless Communications (CWC) 54.60p +3.12%FallersAfren (AFR) 9.78p -11.89%Premier Farnell (PFL) 152.50p -9.98%Ocado Group (OCDO) 409.20p -5.12%Victrex plc (VCT) 2,023.00p -3.30%Telecity Group (TCY) 863.00p -2.32%Nostrum Oil & Gas (NOG) 578.00p -2.03%Man Group (EMG) 176.10p -2.00%Beazley (BEZ) 295.30p -1.96%Rank Group (RNK) 181.90p -1.94%BlackRock World Mining Trust (BRWM) 315.40p -1.84%
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