FTSE 250 movers: TP Icap lower after new purchase; Babcock steams ahead
FTSE 250-listed inter-dealer broker TP Icap edged down as it acquired US-based energy and commodities broker SCS Commodities based for an undisclosed cash sum and further performance-related amounts over five years.
Founded in 1991 and now employing 26 brokers, SCS specialise in in crude oil futures, soft commodities, petroleum and refined products, natural gas options and crude oil options. Clients are provided with continuous coverage of energy markets around the world including pre-trade intelligence and execution expertise of high volume trades, including blocks, inter-commodity spreads and complex option strategies.
For the 2016 calendar year SCS generated profits before tax of $0.8m from revenues of $14.3m.
Babcock gained after saying it will lead a bespoke team of industry partners in a bid for the UK Ministry of Defence's new £1.25bn Type 31e general purpose light frigate programme.
Babcock had teamed up with fellow defence contractor Thales, along with BMT, Harland & Wolff and Ferguson Marine to form 'Team 31'.
It said the consortium would pitch to the UK's Ministry of Defence that it could deliver "world-class ships that will drive economic benefits throughout the UK".
Babcock said it would act as the overall programme lead, whilst Thales will have overall responsibility for the development of the mission system solution.
Jardine Lloyd Thompson shares were up as the stock had its 'overweight' reiterated by Barclays. The bank placed a 1450p target price on the shares.
TalkTalk shares continue to find no favour with the investors, with the shares on the slide again on Monday.
Market Movers
FTSE 100 (UKX) 7,713.87 -0.13%
FTSE 250 (MCX) 20,902.25 -0.14%
techMARK (TASX) 3,553.49 -0.77%
FTSE 250 - Risers
FDM Group (Holdings) (FDM) 970.00p 4.98%
Jardine Lloyd Thompson Group (JLT) 1,452.00p 3.42%
BBA Aviation (BBA) 355.20p 3.20%
Sophos Group (SOPH) 632.50p 3.01%
Vietnam Enterprise Investments (DI) (VEIL) 473.00p 2.83%
Serco Group (SRP) 102.12p 2.48%
Provident Financial (PFG) 940.60p 2.24%
Evraz (EVR) 379.35p 2.20%
Ferrexpo (FXPO) 302.90p 2.19%
Cobham (COB) 125.50p 1.83%
FTSE 250 - Fallers
Coats Group (COA) 86.40p -4.00%
RDI Reit (RDI) 36.10p -3.60%
Capita (CPI) 410.50p -3.05%
Softcat (SCT) 520.00p -2.99%
GCP Infrastructure Investments Ltd (GCP) 123.70p -2.60%
TI Fluid Systems (TIFS) 250.00p -2.34%
Aggreko (AGK) 797.00p -2.16%
Convatec Group (CTEC) 196.15p -1.92%
TalkTalk Telecom Group (TALK) 142.23p -1.91%
Crest Nicholson Holdings (CRST) 552.74p -1.91%