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FTSE 250 movers: Cranswick tanks on animal abuse scandal; Ferrexpo surges
(Sharecast News) - FTSE 250 (MCX) 20,613.67 0.53%
Shares in meat producer Cranswick plunged on Monday after Britain's Big Four supermarkets all suspended supplies from its Northmoor Farm in Lincolnshire following reports of animal abuse.
Secret recordings obtained by the Mail on Sunday showed workers at the site engaging in inhumane practices, including piglet 'thumping' - a criminal offence whereby runts of the litter or sick piglets are killed by being violently hit against floors and walls. Botching killings of sows were also filmed, along with a number of other unnecessary acts that put pigs under distress and considerable pain.
Cranswick is the largest meat supplier to grocers in the UK, and Tesco, Sainsbury's, Morrisons and Asda have all announced that they pulled supplies immediately following the revelations.
The company, which says on its website that animal welfare "is at the heart of our business", said it has suspended its whole team at Northmoor and ordered an investigation into the farm's practices.
A spokesperson from Cranswick, cited by the Mail on Sunday, said they were "extremely disappointed to see the unacceptable lapse of welfare standards captured at Northmoor Farm.
"As soon as we saw the footage we suspended the team working at the farm and we are conducting an urgent and thorough investigation. We have also suspended the farm from supplying any pigs until the investigation is completed."
Ferrexpo surged on hopes that peace talks between Russia and Ukraine could take place on Thursday.
Raspberry Pi also soared as the US and China agreed a 90-day truce in their trade war, with tariffs slashed for 90 days.
Victrex was also weaker after interim results.
Market Movers
FTSE 250 - Risers
4Imprint Group (FOUR) 3,535.00p 13.30% Raspberry PI Holdings (RPI) 509.00p 8.76% Ferrexpo (FXPO) 66.80p 7.57% Carnival (CCL) 1,483.00p 7.42% Wizz Air Holdings (WIZZ) 1,721.00p 6.89% Oxford Nanopore Technologies (ONT) 135.60p 5.53% RS Group (RS1) 567.50p 5.39% Renishaw (RSW) 2,690.00p 5.08% Watches of Switzerland Group (WOSG) 383.00p 4.99% JPMorgan Indian Investment Trust (JII) 1,026.00p 4.80%
FTSE 250 - Fallers
Cranswick (CWK) 4,935.00p -7.93% Victrex plc (VCT) 855.00p -5.52% Endeavour Mining (EDV) 2,144.00p -5.05% Hilton Food Group (HFG) 860.00p -3.91% Chemring Group (CHG) 403.50p -3.70% Hochschild Mining (HOC) 280.20p -3.58% Ashmore Group (ASHM) 145.60p -3.26% Tate & Lyle (TATE) 567.50p -3.24% QinetiQ Group (QQ.) 414.40p -2.81% Premier Foods (PFD) 197.80p -2.80%
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