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FTSE 250 movers: Babcock bounces higher; Pennon in the red
(Sharecast News) - London's FTSE 250 was up 0.4% at 19,399.73 in afternoon trade on Tuesday. Aerospace, defence and security company Babcock was the standout gainer on the index, closely followed by cruise operator Carnival.
Pennon was under the cosh as it said that water regulator Ofwat will be including South West Water in its investigation into how water and wastewater companies manager their wastewater treatment works.
"We will continue to work openly and constructively with Ofwat to comply with the formal notice issued to South West Water as part of this ongoing investigation," Pennon said a in a brief statement.
It was also being dented by a research note from JPMorgan Cazenove, as the bank said it was turning cautious on the subsector, given its belief that returns from April 2025 will be lower than the market currently expects.
JPM put Pennon, along with Severn Trent on "negative Catalyst Watch" into July 7th, when the water regulator, Ofwat, will be publishing a draft methodology for the next regulatory period.
FTSE 250 - Risers
Babcock International Group (BAB) 327.00p 8.57% Carnival (CCL) 790.80p 3.86% Hammerson (HMSO) 21.24p 3.56% Elementis (ELM) 105.00p 3.14% Mitchells & Butlers (MAB) 208.20p 3.07% Fidelity China Special Situations (FCSS) 289.00p 2.85% RHI Magnesita N.V. (DI) (RHIM) 2,142.00p 2.78% Dunelm Group (DNLM) 836.50p 2.76% ITV (ITV) 69.56p 2.66% Great Portland Estates (GPE) 638.00p 2.65%
FTSE 250 - Fallers
Pennon Group (PNN) 1,005.00p -6.07% Dr. Martens (DOCS) 253.60p -3.50% Renishaw (RSW) 3,728.00p -3.02% Essentra (ESNT) 265.00p -2.57% BBGI Global Infrastructure S.A. NPV (DI) (BBGI) 162.20p -2.41% Baltic Classifieds Group (BCG) 138.00p -2.27% IntegraFin Holding (IHP) 239.80p -2.20% HGCapital Trust (HGT) 348.50p -2.11% Polymetal International (POLY) 191.00p -2.05% Quilter (QLT) 108.30p -1.90%
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