BRITVIC ticked higher against a small-cap sell-off on speculation that any move on the soft drinks maker from PAI Partners, of France, could trigger rival interest from PepsiCo.

The American drinks giant has a long-term bottling contract with Britvic and made no secret of its desire for Britvic, previously owned by Allied Domecq, InterContinental Hotels and Whitbread, to be floated rather than sold to a financial buyer. However, with PAI said to be circling after Thursday’s profit warning from Britvic — its third in six months since listing — followers believe that PepsiCo, which owns 5 per cent and can exercise a change-of-control clause, could turn predator if an offer ensues. Britvic rose 1¼p to 205p, with the FTSE 250 off 272.5 points at 9,235.5.

EMI Group improved 2¾p to 272½p as Morgan Stanley moved from “underweight” to “neutral”, citing “encouraging signs” in last week’s full-year results. QinetiQ firmed 2¼p to 172¼p after Credit Suisse moved from “neutral” to “outperform” before next week’s maiden prelims. Expro International faded 43p to 706½p, with Quintain Estates off 33½p to 583½p, despite hopes that today’s full-year figures will trigger upgrades.

Hamworthy, which makes fluid-handling systems for ships, put on 30¼p to 337¾p as Collins Stewart set a 400p target on in-line full-year figures. Paul Compton, analyst, reckons that new products related to liquefied natural gas offer the prospect of a “quantum leap” in earnings.

Billing Services Group firmed 4p to 68½p on forming an independent committee to consider a management buyout. Dresdner Kleinwort Wasserstein notes that BSG floated last year at 74½p, suggesting that management are unlikely to buy back the company substantially above that price.

An upbeat trading state-ment prompted Powerleague Group, the operator of five-a-side football centres, to rise 2½p to 73½p. Evolution Securities repeated its 100p target, describing the 14 per cent fall this month as “counter-intuitive” given interest generated by the World Cup.

K3 Business Technology put on 3½p to 92½p as Tom Milne, chairman, picked up 25,000 shares at 25p. Jacques Vert, the clothing retailer, held steady at 13p, despite word that like-for-like sales have recovered since April’s profit warning.

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