London’s FTSE 250 was up 0.7% at 20,507.16 in afternoon trade on Monday.
Countryside Partnerships surged to the top of the index after San Francisco-based Inclusive Capital said it was looking to make a £1.47bn bid, but accused the company of refusing to engage with it.
In-Cap, which holds a 9.2% stake in Countryside, said the possible offer was to buy the remaining shares in the house builder it does not already own for 295 pence each.
Russ Mould, investment director at AJ Bell, said: “The bid is testament to the appeal of the UK housebuilding sector which, regardless of the economic backdrop, should benefit in the long term from supportive supply and demand dynamics.”
Travel-related shares were also on the rise, with Tui, Wizz Air and Carnival all higher.
Transport operator FirstGroup lost ground, having rallied last week after saying it was evaluating a takeover offer from private equity firm I Squared, which owns Irish energy supplier Energia.
FTSE 250 – Risers
Countryside Partnerships (CSP) 279.80p 17.27%
Aston Martin Lagonda Global Holdings (AML) 735.80p 7.70%
TUI AG Reg Shs (DI) (TUI) 197.20p 4.95%
Baillie Gifford US Growth Trust (USA) 174.60p 4.80%
Chrysalis Investments Limited NPV (CHRY) 136.00p 4.45%
AJ Bell (AJB) 283.00p 4.43%
Dr. Martens (DOCS) 218.00p 4.21%
Wizz Air Holdings (WIZZ) 3,116.00p 4.11%
Carnival (CCL) 1,026.50p 4.07%
Renishaw (RSW) 4,070.00p 3.77%
FTSE 250 – Fallers
FirstGroup (FGP) 129.80p -3.42%
Hiscox Limited (DI) (HSX) 934.40p -2.26%
NB Private Equity Partners Ltd. (NBPE) 1,515.00p -2.26%
Telecom Plus (TEP) 1,640.00p -2.15%
Helios Towers (HTWS) 114.70p -1.97%
Wood Group (John) (WG.) 245.80p -1.80%
Hill & Smith Holdings (HILS) 1,422.00p -1.80%
Playtech (PTEC) 552.00p -1.78%
Lancashire Holdings Limited (LRE) 400.40p -1.77%
Petrofac Ltd. (PFC) 145.20p -1.76%
