Greene King Share News (GNK)

(ShareCast News) - The FTSE 250 was still in the green on Wednesday before the London Stock Exchange was due to announce which companies would be promoted and demoted from the FTSE 100 and 250.The market was up 17.18 points (0.1%) to 17,533.94 by mid-afternoon, but trending downwards.Greene King led the risers after it posted a rise in first half pre-tax profit and revenue thanks in part to the integration of Spirit Pub Company.For the 24 weeks to 18 October, statutory pre-tax profit increased 17.9% to £84.9m as revenue surged 49.2% to £917.7m.Chief executive officer Rooney Anand said: "It has been a strong first half, with the Greene King business strengthening and significant progress made in the Spirit integration."Like-for-like sales growth in Greene King Retail improved during the half and both Pub Partners and Brewing & Brands delivered profit growth and margin expansion."Home Retail Group continued its very swift rise from Tuesday following a report that Nicholas Marshall, a former executive of the Garden Centre Group, is mulling a bid for Homebase.According to the Financial Times, Marshall has been looking at Homebase for the last couple of years and has been holding talks with private equity firms regarding a possible bid.Investec, which rates Home at 'buy', said a splitting up of the group was feasible."We conservatively value Homebase at £230m with the balance sheet supporting a group value of £1.45bn (180p/share)," it said.Despite funds remaining flat, statutory profit grew substantially at Brewin Dolphin Holdings as the company focuses on expansion and sent the share price up.In its preliminary results for the year, the investment management firm held total funds of £32.0bn, marginally down from £32.5bn in 2014, with discretionary funds under management up from £24.0bn to £24.8bn.Total income was up 1% for the year to £283.7m, with core income up 5% to £251.3m but with a 12% decline in commission income to £71.5m.Statutory profit before tax surged from £6.8m to £61.0m due costs associated with the termination of new software last year.However Moneysupermarket.com kept the market relatively balanced after it slumped on news that founder Simon Nixon sold nearly half his stake in the comparison website, pocketing a gross £98m.Nixon sold 32m shares, a 5.8% stake, at 305p each and is now subject to a lock-up in respect of his remaining 38m shares (6.9% stake) until the company's full-year results in March 2016.It's the latest move in the website founder's exit from the company.He has been slowly reducing his shareholding and increasing his involvement in other activities over the last two years, and will step down from the board at the end of the year.Another company plunged on the back of a major stake being divested. Acromas Bid Co sold a 13% stake in UK insurer Saga, selling 145m shares at 200p each.It was more than the 112m it had originally intended to sell and followed the sale of a 6% stake in February, an 11% stake in May and 6% stake in July.Following the settlement of the placing, which is expected to take place on 4 December, Acromas will hold around 32% of Saga's issue share capital and will remain the company's largest shareholder.FTSE 250 - RisersGreene King (GNK) 967.00p 13.56%Pace (PIC) 438.00p 8.31%AA (AA.) 294.00p 5.79%Greggs (GRG) 1,289.00p 3.62%Home Retail Group (HOME) 109.60p 3.01%Virgin Money Holdings (UK) (VM.) 390.10p 2.93%Brewin Dolphin Holdings (BRW) 264.50p 2.72%Ocado Group (OCDO) 380.30p 2.53%Enterprise Inns (ETI) 105.60p 2.33%PayPoint (PAY) 992.00p 2.27%FTSE 250 - FallersMoneysupermarket.com Group (MONY) 308.00p -6.18%Saga (SAGA) 201.00p -5.28%Petra Diamonds Ltd.(DI) (PDL) 69.25p -4.15%Jimmy Choo (CHOO) 134.30p -4.07%Weir Group (WEIR) 1,118.00p -3.37%Morgan Advanced Materials (MGAM) 246.70p -2.64%Rathbone Brothers (RAT) 2,209.00p -2.56%Tullow Oil (TLW) 202.10p -2.18%International Personal Finance (IPF) 361.50p -2.14%Daejan Holdings (DJAN) 6,365.00p -2.08%