FTSE 250 movers: Charter rises, Melroses falls after offer increase

Charter International is in demand after engineering firm Melrose upped the price it is willing pay for its rival by 18p per share. Charter is valued at £1.43bn at this price. Melrose saw shares fall. International recruitment firm Hays jumped after reporting strong growth in profits last year, driven by its overseas interests. Net fees in the year to 30 June rose 21%, or 18% on a like-for-like (LFL) basis, to £672.1m from £557.7m the year before. Its rival Michael Page is a faller though. Train and bus services group Go-Ahead fell after reporting a fall in revenue from its buses around London. Nevertheless, group sales rose 6% as strength in rail and its deregulated bus division (outside London) offset this weakness. Salamander Energy, the FTSE 250 oil and gas firm focused in Asia, disappointed investors on Thursday after announced a sub-commerical oil and gas discovery in Vietnam. The 101-CB-1X exploration well in Black 101-100/04, offshore northern Vietnam, was drilled to a total depth of 1,724m. Results indicated that the tertiary reservoirs found are of good quality but pressure data and seismic mapping showed that the in-place resource volumes are "probably below levels needed for commercial development," the statement said. FTSE 250 - RisersHays (HAS) 79.75p +5.63%Unite Group (UTG) 187.50p +5.16%Cable & Wireless Communications (CWC) 37.07p +4.75%Charter International (CHTR) 799.00p +4.72%Pace (PIC) 110.00p +4.27%Home Retail Group (HOME) 131.80p +3.37%Phoenix Group Holdings (DI) (PHNX) 548.50p +2.91%Barratt Developments (BDEV) 84.60p +2.86%Jupiter Fund Management (JUP) 197.20p +2.71%Enterprise Inns (ETI) 42.25p +2.67%FTSE 250 - FallersRank Group (RNK) 130.00p -6.81%Melrose (MRO) 295.30p -5.90%Kenmare Resources (KMR) 43.02p -5.76%Go-Ahead Group (GOG) 1,492.00p -5.75%Salamander Energy (SMDR) 221.10p -3.83%COLT Group SA (COLT) 107.10p -3.08%AZ Electronic Materials SA (WI) (AZEM) 225.00p -2.60%Michael Page International (MPI) 379.90p -2.59%Lancashire Holdings (LRE) 666.50p -2.34%Daejan Holdings (DJAN) 2,502.00p -2.27%