FTSE 250 movers: Weir rallies on acquisition, Ultra slumps on SFO probe
London's FTSE 250 was up 0.7% to 20,143.34 in afternoon trade on Thursday as investors digested the latest retail sales data.
Engineer Weir Group rallied as it launched a rights issue after striking a $1.3bn deal to take over US mining tools manufacturer Esco Corp, while engineering and industrial software company Aveva was on the front foot following a well-received year-end trading update.
Essentra, a supplier of plastic and fibre products, was in the black after it said that trading in the financial year-to-date has been in line with the board's expectations, as it announced the departure of its group finance director.
The company saw like-for-like revenue growth of around 2% in the period. Growth in the components business was driven by all geographic regions, with a stable result in filters reflecting a continued good performance in China and ongoing pipeline development of innovative new products.
On the downside, defence company Ultra Electronics slumped after saying the UK's Serious Fraud Office has opened a criminal investigation into suspected corruption in the conduct of its business in Algeria.
The group said this follows a voluntary self-report to the SFO, with which it continues to cooperate.
Intu Properties, Bodycote, Greggs, Drax and John Laing were among the companies whose stock went ex-dividend.
FTSE 250 - Risers
Weir Group (WEIR) 2,230.00p 5.29%
Aveva Group (AVV) 2,155.94p 4.66%
Hochschild Mining (HOC) 227.50p 4.41%
Essentra (ESNT) 450.40p 4.36%
Renishaw (RSW) 5,005.00p 3.75%
Capita (CPI) 154.50p 3.73%
Paragon Banking Group (PAG) 507.50p 3.40%
Cranswick (CWK) 2,956.00p 3.28%
Mitchells & Butlers (MAB) 274.80p 3.00%
Diploma (DPLM) 1,206.00p 2.90%
FTSE 250 - Fallers
Ultra Electronics Holdings (ULE) 1,272.00p -8.36%
Intu Properties (INTU) 192.55p -3.68%
Bodycote (BOY) 902.85p -3.64%
Greggs (GRG) 1,230.00p -2.54%
Drax Group (DRX) 302.60p -2.51%
John Laing Group (JLG) 280.00p -2.10%
Pets at Home Group (PETS) 154.60p -2.09%
Saga (SAGA) 127.60p -1.92%
Wizz Air Holdings (WIZZ) 3,331.00p -1.57%
Baillie Gifford Japan Trust (BGFD) 797.52p -1.54%