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FTSE 250 movers: Currys rallies on Frasers stake; Synthomer slides
(Sharecast News) - London's FTSE 250 was down 0.5% at 18,765.26 in afternoon trade on Tuesday. Currys was the top gainer on the index after Mike Ashley's Frasers Group took an 8.9% stake in the electricals retailer.
Frasers said: "Our investment in Currys provides us with a valuable opportunity to build on our foothold in the electricals industry as well as deepening the existing relationship between Currys and Studio, with the potential for further collaboration between the two.
"Through this investment, we also believe Currys will benefit from Frasers' deep retail know-how and our sector-leading ecosystem."
Synthomer tumbled, with traders pointing to possible read-across after German speciality chemicals maker Lanxess cut its second-quarter and full-year profit forecasts.
Lanxess said it saw no demand recovery in June as customers continued to destock. It also said that weak demand and customer destocking had continued into the second quarter.
FTSE 250 - Risers
Currys (CURY) 55.20p 4.25% Me Group International (MEGP) 167.00p 3.73% Digital 9 Infrastructure NPV (DGI9) 70.40p 3.38% Marshalls (MSLH) 266.40p 2.86% Indivior (INDV) 1,768.00p 2.49% Mitchells & Butlers (MAB) 215.40p 2.09% Mitie Group (MTO) 99.30p 1.85% 4Imprint Group (FOUR) 5,100.00p 1.80% IP Group (IPO) 53.30p 1.72% Moneysupermarket.com Group (MONY) 273.80p 1.71%
FTSE 250 - Fallers
Synthomer (SYNT) 73.00p -8.81% Ferrexpo (FXPO) 89.75p -4.93% Trainline (TRN) 271.80p -3.62% Genus (GNS) 2,366.00p -3.51% Tyman (TYMN) 257.00p -3.38% Darktrace (DARK) 320.30p -3.26% Capita (CPI) 30.26p -3.14% Ashmore Group (ASHM) 202.80p -3.06% Carnival (CCL) 1,110.00p -2.93% Telecom Plus (TEP) 1,540.00p -2.90%
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