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FTSE 250 movers: Strong trading leads Supergroup to top of the pack

Wed, 16th Dec 2015 15:28

(ShareCast News) - The FTSE 250 was on track to finish the day in the green on Wednesday, up 78.47 points (0.46%) to 17,078.03 by mid-afternoon.Supergroup led the risers after it released its half year report, showing strong trading leading to positive sales growth. The owner of popular faux-Japanese fashion brand Superdry saw revenue rise 22.3% to £254.7m in the 26 weeks to October 24. Underlying profit before tax was up a sizeable 54.4% to £19.3m. Excluding North America, it increased 73.6%. Basic earnings per share were up to 20p, from 11.9p, on an underlying basis. Its reported basic earnings per share were just 10.2p, however, down from 17.2p last year. In the report, SuperGroup said this reflected the period-on-period remeasurement of financial derivatives, as well as "exceptional items" related to the North America licence buy-out.Bwin.party was also up on the back of Citi upgrading the stock from 'sell' to 'buy'. It follows GVC Holdings' takeover of bwin.party digital entertainment being approved by the companies' shareholders on Tuesday. Bwin.party said 99.99 per cent of shareholders voted in favour of the deal, while 99.91 of GVC's did the same. Both firms said the deal is expected to become effective on February 1st 2016, with admission of GVC's shares to the Official List of the London Stock Exchange.N Brown Group was the biggest faller of the day down nearly 7%. N+1 Singer trimmed its sales forcasts for the full year after an unseasonally warm start to the Autumn/Winter trading period. As a result, it reduced its full year above consensus profit before tax forecast by 3.4% and outer years by 2%. "We still believe that the ongoing channel shift to online is favouring N Brown (and others like boohoo) and that N Brown has traded well on receivables growth and margins," the report said. It comes after women's value retailer Bonmarche warned over its full year profits due to challenging conditions in December that haven't normalised. That also forced department store Debenhams to take a hit and featuring in the top 10 fallers.FTSE 250 - RisersSupergroup (SGP) 1,639.00p 8.11%Drax Group (DRX) 225.10p 6.78%Acacia Mining (ACA) 168.10p 6.46%Bwin.party Digital Entertainment (BPTY) 123.60p 5.91%Petra Diamonds Ltd.(DI) (PDL) 71.50p 5.15%AA (AA.) 300.20p 5.11%Bodycote (BOY) 551.00p 4.95%Aldermore Group (ALD) 214.90p 4.57%Shawbrook Group (SHAW) 344.30p 4.33%Carillion (CLLN) 310.70p 4.12%FTSE 250 - FallersBrown (N.) Group (BWNG) 299.40p -6.76%Nostrum Oil & Gas (NOG) 359.20p -4.97%Tullett Prebon (TLPR) 341.60p -4.53%Dignity (DTY) 2,361.00p -3.48%Indivior (INDV) 184.90p -3.19%Debenhams (DEB) 73.55p -3.16%Kaz Minerals (KAZ) 90.00p -2.96%Vedanta Resources (VED) 281.10p -2.56%Home Retail Group (HOME) 94.65p -2.07%DCC (DCC) 5,545.00p -1.86%
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4 Sep 2015 10:50

TIMELINE-GVC trumps 888 in battle for Bwin

(Adds latest developments, edits) Sept 4 (Reuters) - Bwin.party ditched an agreed takeover deal with 888 on Friday in favour of a higher cash and share offer from GVC Holdings, creating a sports betting heavyweight in a sector being reshaped by consolidation. Following are some of the

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4 Sep 2015 10:07

TOP NEWS SUMMARY: Bwin Places Its Bet On GVC Merger As 888 Deal Folds

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4 Sep 2015 07:29

LONDON MARKET OPEN: Investors Cautious Ahead Of US Jobs Report

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4 Sep 2015 07:20

Bwin admits investors split on its backing of GVC takeover

LONDON, Sept 4 (Reuters) - Online gambling firm Bwin.party , which on Friday accepted a 1.06 billion pound ($1.6 billion) takeover from GVC, said many of its investors had been split on whether to back the approach over a rival offer from 888. Bwin Chairman Philip Yea said it had talked wit

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4 Sep 2015 07:17

LONDON BRIEFING: Bwin.Party Chooses GVC's Takeover Offer Over 888's

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4 Sep 2015 07:13

GVC trumps 888 Holdings in battle for Bwin

(ShareCast News) - GVC Holdings has trumped rival 888 Holdings in the battle for online gambling group Bwin.Party Digital Entertainment. The Sportingbet owner said Bwin has agreed to its offer of 25p in cash and 0.231 new GVC shares, which values the company at around 129.64p per share or £1.12bn

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4 Sep 2015 06:37

LONDON MARKET PRE-OPEN: Lower Open Expected Ahead Of US Jobs Report

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4 Sep 2015 06:25

GVC says Bwin accepts its $1.62 bln offer over 888's

Sept 4 (Reuters) - Online gambling company GVC Holdings Plc said on Friday that Bwin.party Digital Entertainment Plc had accepted its 1.06-billion-pound ($1.62 billion) takeover offer. GVC's offer of 25 pence in cash and 0.231 new GVC shares works out to about 129.64 pence per Bwin share

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4 Sep 2015 06:10

Bwin.Party Leaves 888 At Altar, Recommends GBP1.12 Billion GVC Deal (ALLISS)

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4 Sep 2015 05:41

PRESS: GVC Set To Trump 888 In Bwin.Party Takeover Battle - Telegraph

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4 Sep 2015 01:49

Bwin board now prefers GVC's buyout offer over 888's-the Telegraph

Sept 3 (Reuters) - Bwin.party Digital Entertainment's board, which had been backing a buyout offer from 888 Holdings, has switched preference to now favor a rival bid from GVC Holdings, the Telegraph reported. The chairman of GVC, Lee Feldman, said on Tuesday that GVC could go hostile if B

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4 Sep 2015 00:03

MEDIA-Bwin board switches recommendation to GVC from 888- Telegraph

-- Source link: (http://bit.ly/1EDn6UG) -- Note: Reuters has not verified this story and does not vouch for its accuracy

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3 Sep 2015 09:17

888 Launches Poker, Casino & Sport Brands In Romania & Denmark

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2 Sep 2015 12:05

UPDATE 1-Online gambling firm GVC "not prepared to walk away" from Bwin

(Adds details from sources, background) By Aastha Agnihotri Sept 2 (Reuters) - Online gambling company GVC Holdings Plc could go hostile in the 1-billion-pound ($1.5 billion) battle for Bwin.party Digital Entertainment if Bwin's board recommends a lower offer from 888 Holdings Plc, t

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2 Sep 2015 09:55

GVC would reportedly consider going hostile for Bwin

(ShareCast News) - GVC Holdings is reportedly considering going hostile in the £1bn battle for Bwin.Party Digital Entertainment if the company's board recommends a lower offer from 888 Holdings. The Times quoted GVC chairman Lee Feldman as saying that the board is "not prepared to walk away" from Bw

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