Evicted midstocks on back foot Quarterly reshuffle puts evicted midstocks on the back foot There was further misery for alea holdings yesterday as the insurer lost its position http://www.rtmonlinejobs.net/pandora-bracelets.html in the ftse 250. The company, which has seen its shares drift from november 2003's flotation price of 250p, rose 3 to 178 but will be evicted from the index in the latest ftse quarterly reshuffle. Radio group smg, down 1 to 91 will also lose its spot in the ftse 250, while recent flotations spreadbetting group ig index, up 3 to 134 and f commercial property trust, easier at 111 will go in. The ftse committee confirmed that, from june 20, plasterboard manufacturer bpb, down 4 to 511p, and property group hammerson, 3 lower at 924p, will be promoted to the bluechip index.They will replace packaging group bunzl, which shed 5 to 531p, and steel company corus, lower at 43p. The benchmark ftse 100 spent the day drifting and closed down 21.5 at 5003.7 while the FTSE 250 shed 16.0 to 7227.3.A number of shares traded exdividend, including united utilities, national grid transco, baa, enterprise inns, pilkington, westbury and jjb sports. Merrill lynch was upbeat on advertising group wpp, repeating its buy rating on the stock after a presentation by chief executive sir martin sorrell.The shares rose 6 to 590p. 02 eased 1 to 124p as speculation that Dutch telecoms group KPN is considering See results about jewelry a bid for the mobile phone group faded.In a note to clients, smith barney said, though there would be benefits to a merger, kpn would need to find about to fund such an acquisition. British american tobacco dipped 12p to on chatter that compagnie financiere richemont may sell its 18.2pc stake in the company.The talk was that the swiss luxury goods maker, which owns the cartier label, may need the cash for a shopping spree.Some suggested it could buy us group tiffany co, while others said it may be eyeing italy's bulgari. Kingfisher, owner of b fell 4 to 255p as hopes of an imminent bid from us giant home depot Cheap Pandora Beads faded. Highstreet retailer woolworths edged up to 36 despite ubs cutting its target price from 40p to 36p. Stockbroker evolution group announced that nonexecutive chairman martin gray yesterday bought 7, 858 shares at 127 the shares rose 4 to 132p. Lloyd's insurer chaucer holdings jumped 7 to 67 after receiving an indicative approach.Dealers speculated amlin, another lloyd's syndicate, could be a potential predator. Discount clothing retailer peacock put on 2 to 260p on renewed bid speculation.Dealers believe a private equity group, possibly apax, is running its slide rule over the company and may be willing to pay up to 310p a share. Numis raised its target price on the company from 270p to 300p. Property group mckay securities, which published fullyear figures in line with market expectations, rose 3 to 265p.Dealers speculated that town centre, which last month took a 2.4pc stake in McKay, may want to increase its holding further.Town centre was unchanged at 321p. Thinlytraded online auctioneer group qxl ricardo surged 280p to Uk coal, which reported an approach in april, fell 4 to 120 after saying takeover talks had now been terminated. Agcert international, which traps methane gas from pig manure to reduce greenhouse gas emissions, came to the main market at 140p and closed at 152 paul d'alton stepped down as finance director at waterford wedgwood in march to take up the same role at agcert. Aimlisted night club operator urbium jumped 65 to 700p after receiving and rejecting an unsolicited indicative proposal from regents inns, down 3 to 77 after the market closed, regent inns said it had proposed 820pashare paper offer, with a partial cash option, and was considering its position. Ukbetting, the online sports content and gambling company, rose 3 to 51 on heavy volumes.Dealers speculated a european company was considering making a cash offer of as much as 85p a share. Dragon oil, which said earlier this week said it had received an approach from 52pc stakeholder emirates national oil company, tumbled 10 to 97p after announcing that discussions had ended.
