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FTSE 250 movers: Elementis surges on talc deal; Miners lose shine
(Sharecast News) - FTSE 250 (MCX) 20,938.01 1.11% Specialty chemicals company Elementis said it had sold its Talc business to Italy's IMI Fabi for an enterprise value of $121m and would start a £50m share buyback.
The sale comes as Elementis repositions itself as a pure-play specialty chemicals operation focused on value-added additives in the high-margin coatings and personal care markets.
Elementis said the deal improves adjusted operating profit margin by approximately 240 basis points and accelerates delivery of its 2026 financial targets.
Defence stocks were on the rise, with Qinetiq up amid expectations that NATO members will agree to raise defence spending at a summit next month.
Hochschild and Endeavour lost their shine as gold prices fell.
Heat treatments and thermal processing services outfit Bodycote reiterated its full-year outlook on Tuesday despite reporting a year-on-year revenue decline for the four months ended 30 April.
Bodycote said core revenues were down 5% year-on-year on an organic basis, while overall group revenues were 6% lower at £246.0m, reflecting a 1% headwind from lower energy surcharges year-on-year and a strong prior year comparator.
Aston Martin Lagonda shares were up on hopes of a trade deal with the US, while the company also revealed on Tuesday that chief executive Adrian Hallmark had acquired 199,117 ordinary shares in the London-listed luxury carmaker.
Market Movers
FTSE 250 - Risers
Elementis (ELM) 145.40p 11.85% Jupiter Fund Management (JUP) 90.30p 10.12% W.A.G Payment Solutions (WPS) 65.60p 7.19% Bodycote (BOY) 556.00p 5.60% Bridgepoint Group (Reg S) (BPT) 284.40p 5.57% QinetiQ Group (QQ.) 491.80p 5.49% Vistry Group (VTY) 618.60p 4.81% Aston Martin Lagonda Global Holdings (AML) 78.55p 4.39% Frasers Group (FRAS) 725.00p 4.24% Carnival (CCL) 1,543.00p 4.19%
FTSE 250 - Fallers
Hochschild Mining (HOC) 273.80p -5.46% Patria Private Equity Trust (PPET) 554.00p -2.46% Foresight Solar Fund Limited (FSFL) 75.20p -2.08% Pacific Horizon Inv Trust (PHI) 585.00p -2.01% Ferrexpo (FXPO) 59.10p -1.99% Fidelity China Special Situations (FCSS) 246.50p -1.79% Auction Technology Group (ATG) 449.50p -1.75% Johnson Matthey (JMAT) 1,701.00p -1.68% Syncona Limited NPV (SYNC) 84.70p -1.51% Endeavour Mining (EDV) 2,230.00p -1.33%
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