FTSE 250 movers: C&W Comms jumps after disposal

3rd Dec 2012 15:41

Cable & Wireless Communications surged on Monday after agreeing to sell the majority of its businesses in its Monaco & Islands division as it attempts to scale back its geographic footprint and pay down debt.CWC is selling the assets to Bahraini telecoms firm Batelco Group for an enterprise value of $680m. Batelco also has the option to buy the remaining 75% stake in Compagnie Monegasque de Communication for $345m. The total proceeds of $1,025m, when the sale of the remaining stake in CMC is factored in, is some 35% ahead of analysts' valuations of $750m.Mortgage provider Paragon Group of Companies was wanted after backing up press speculation by confirming that it is thinking about acquiring small private bank Hampshire Trust. The purchase would grant the company banking licence for the first time, allowing it offer savings accounts for its customers. Regeneration specialist St. Modwen Properties was in demand after saying expectations for the full year remain unchanged following strong momentum across the entire group. Mining stocks were mixed this afternoon with platinum group Lonmin and iron ore producer Ferrexpo on the rise, while gold miner Centamin and diamond firm Petra under pressure.FTSE 250 - RisersCable & Wireless Communications (CWC) 36.23p +4.41%Spectris (SXS) 1,976.00p +2.76%Informa (INF) 431.20p +2.57%Lonmin (LMI) 263.60p +2.13%Genesis Emerging Markets Fund Ltd. (GSS) 535.00p +2.10%Workspace Group (WKP) 299.50p +1.91%Ophir Energy (OPHR) 506.50p +1.71%Redrow (RDW) 161.40p +1.70%JD Sports Fashion (JD.) 722.00p +1.69%Ferrexpo (FXPO) 222.80p +1.69%FTSE 250 - FallersStobart Group Ltd. (STOB) 96.05p -5.46%Kenmare Resources (KMR) 31.26p -3.22%Domino Printing Sciences (DNO) 575.00p -3.20%Centamin (DI) (CEY) 56.90p -3.07%Dixons Retail (DXNS) 26.70p -2.87%IP Group (IPO) 109.20p -2.50%Ocado Group (OCDO) 72.10p -2.44%EnQuest (ENQ) 111.40p -2.28%Petra Diamonds Ltd.(DI) (PDL) 104.10p -2.16%Carpetright (CPR) 685.00p -2.14%BC