FTSE 250 movers: Housebuilders extend Thursday's gains

22nd Nov 2013 15:51

Housebuilders continued to climb on the back of the latest UK tax figures which yesterday signalled a housing boom, with stamp duty revenues at the same level they were at just before the economic crisis in 2008. Essar Energy revealed it is one step closer to its FTSE inclusion after major shareholder Essar Gold Fund Limited (EGFL) said it intends to ensure it meets all the free float requirements with a 25% private sale of its shares in the company. "EGFL believes that the shares of Essar Energy represent exceptional value and will therefore only sell such minimum number of its shares in the company to enable Essar Energy plc to meet the minimum free float requirement," EGFL said. The company's stock rallied in relief as a result, albeit after a weak performance over the last month. Heading the other way was Telecom Plus, retreating after yesterday's strong rise which came after it agreed to pay £218m to buy back two gas and electricity supply businesses from Npower which it sold in 2006. The company, which operates via the Utility Warehouse brand and uses its own customers as distributors, will fund the deal via a £130m share placing and open offer at a discounted price of 1,475p, together with £100m of new debt. Thomas Cook Group fell on read across from TUI Travel, which today came off recent highs after Norwegian investor John Fredriksen sold off his 5.4% stake in the group - although he upped his stake in its parent company to over 20%. In a report issued today JP Morgan said it sees a risk of margin dilution in the accelerated on-line growth targeted by the company (and TUI Travel). Bank of Georgia performed well despite news of recent selling by two insiders at the lender.FTSE 250 - RisersCentamin (DI) (CEY) 46.88p +5.78%IP Group (IPO) 160.00p +4.58%Bank of Georgia Holdings (BGEO) 2,235.00p +3.19%888 Holdings (888) 158.80p +3.18%Essar Energy (ESSR) 100.10p +3.09%Ashtead Group (AHT) 655.00p +2.91%Galliford Try (GFRD) 1,106.00p +2.88%Diploma (DPLM) 720.50p +2.86%Berkeley Group Holdings (The) (BKG) 2,381.00p +2.81%Bellway (BWY) 1,493.00p +2.75%FTSE 250 - FallersTelecom Plus (TEP) 1,822.00p -4.86%Kenmare Resources (KMR) 18.70p -4.45%Thomas Cook Group (TCG) 148.70p -3.63%CSR (CSR) 479.00p -2.76%Keller Group (KLR) 1,041.00p -2.53%Carpetright (CPR) 585.00p -2.50%Hansteen Holdings (HSTN) 105.60p -2.22%UDG Healthcare Public Limited Company (UDG) 297.40p -2.20%Rathbone Brothers (RAT) 1,510.00p -1.95%COLT Group SA (COLT) 127.50p -1.85%NR