FTSE 250 movers: Ashmore lifted by strong set of fourth quarter results

10th Jul 2014 15:52

Much stronger net inflows and a better investment performance helped emerging markets asset manager Ashmore beat consensus forecasts for fourth-quarter assets under management and arrest the previous quarter's decline. Assets under management increased 7% during the quarter to $75bn, having declined by a similar amount in the previous quarter. Net inflows totalled $1.6bn, while positive investment performance added $3.3bn.Construction group Galliford Try rose on the news it has acquired Miller Construction as part of its strategy to boost growth in its construction business. The acquisition, which was worth £16.57m, is expected to be earnings enhancing from June 2015.Interdealer broker Tullett Prebon said that a court has ruled in its favour in relation to a controversial hiring raid on its US businesses by rival BGC Partners back in 2009. The Financial Industry Regulatory Authority (FINRA) has ordered BCG to pay £19.5m to Tullett's US subsidiaries, but also ordered Tullet's subsidiaries to pay a total of £3.6m in compensatory damages. Leading the downside was UK recruitment company Hays, despite reiterating its full-year guidance for operating profit of about £140m after achieving 7% total like-for-like growth in net fees in the fourth quarter. The group's net fees rose 8% in temporary placements and 5% in permanent placements compared to a year ago, on a like-for-like basis.Credit Suisse helped push Foxtons Group group lower after it cuts its target cut from 400p to 387p. FTSE 250 - RisersUnite Group (UTG) 413.30p +4.37%Ashmore Group (ASHM) 369.20p +4.12%Galliford Try (GFRD) 1,205.00p +3.34%Grainger (GRI) 216.10p +2.37%Tullett Prebon (TLPR) 247.90p +2.31%Xaar (XAR) 511.00p +2.24%Supergroup (SGP) 1,065.00p +2.21%African Barrick Gold (ABG) 231.80p +1.85%COLT Group SA (COLT) 139.70p +1.45%Pets at Home Group (PETS) 184.40p +1.32%FTSE 250 - FallersHays (HAS) 128.80p -6.46%Cairn Energy (CNE) 190.10p -6.31%Euromoney Institutional Investor (ERM) 1,030.00p -4.81%Lonmin (LMI) 219.10p -4.20%Laird (LRD) 264.50p -3.99%Bwin.party Digital Entertainment (BPTY) 85.95p -3.97%Poundland Group (PLND) 327.10p -3.94%Spirent Communications (SPT) 94.25p -3.92%Foxtons Group (FOXT) 286.80p -3.89%Croda International (CRDA) 2,161.00p -3.74%NR