London’s FTSE 250 was 0.8% higher in afternoon trade on Friday at 22,851.90.
Ultra Electronics surged to the top of the index after the defence company said it was minded to recommend a £2.58bn takeover bid from Cobham to shareholders. Cobham, owned by US private-equity firm Advent International, has offered £35 a share, a 42% premium to Ultra’s share price of £24.70 on Thursday.
Beazley was a high riser after the insurer said it swung to a profit in the first half of the year as premium rates improved across its divisions.
Mr Kipling and Bisto owner Premier Foods also advanced as it said full-year adjusted pre-tax profit was set to be at the top end of its expectations after “a very encouraging start to the year”.
The company – which also owns the Bisto brand, among others – said group sales in the first quarter were up 6.3% versus two years ago, at the top end of its expected range of 5% to 6%, with branded sales 9.3% higher.
British Gas owner Centrica fell after the government announced plans to extend its price cap on the most expensive energy tariffs beyond 2023.
FTSE 100 – Risers
NATWEST GROUP PLC ORD 100P (NWG) 200.40p 3.19%
Vodafone Group (VOD) 119.48p 2.96%
Intermediate Capital Group (ICP) 2,234.00p 2.48%
Melrose Industries (MRO) 158.40p 2.46%
3i Group (III) 1,292.50p 2.34%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,086.00p 2.32%
Burberry Group (BRBY) 2,098.00p 2.19%
Weir Group (WEIR) 1,894.50p 1.91%
Antofagasta (ANTO) 1,440.50p 1.66%
Anglo American (AAL) 2,957.50p 1.63%
FTSE 100 – Fallers
Fresnillo (FRES) 748.40p -1.27%
Polymetal International (POLY) 1,517.50p -1.11%
Kingfisher (KGF) 371.10p -0.93%
Sainsbury (J) (SBRY) 278.20p -0.89%
Avast (AVST) 575.60p -0.76%
Flutter Entertainment (CDI) (FLTR) 12,895.00p -0.69%
Ashtead Group (AHT) 5,648.00p -0.60%
British Land Company (BLND) 503.40p -0.51%
Relx plc (REL) 2,053.00p -0.39%
Persimmon (PSN) 2,870.00p -0.38%
FTSE 250 – Risers
Ultra Electronics Holdings (ULE) 3,288.00p 33.12%
Beazley (BEZ) 378.90p 4.96%
Premier Foods (PFD) 109.60p 4.38%
Avon Protection (AVON) 2,660.00p 3.74%
Dixons Carphone (DC.) 125.50p 3.63%
HGCapital Trust (HGT) 387.00p 3.34%
Lancashire Holdings Limited (LRE) 654.00p 3.24%
Bytes Technology Group (BYIT) 459.80p 3.09%
Hammerson (HMSO) 37.04p 3.09%
Meggitt (MGGT) 441.30p 3.04%
FTSE 250 – Fallers
Fidelity China Special Situations (FCSS) 373.50p -3.49%
Vietnam Enterprise Investments (DI) (VEIL) 658.00p -3.24%
Indivior (INDV) 150.80p -2.46%
Future (FUTR) 3,498.00p -2.24%
4Imprint Group (FOUR) 2,575.00p -2.09%
Centamin (DI) (CEY) 100.05p -1.82%
XP Power Ltd. (DI) (XPP) 5,000.00p -1.77%
Centrica (CNA) 48.47p -1.68%
Workspace Group (WKP) 837.00p -1.36%
TP Icap Group (TCAP) 192.96p -1.25%
