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FTSE 250 movers: Green shares spark on UK govt renewables move
(Sharecast News) - FTSE 250 (MCX) 23,169.57 1.00%
Renewable sector shares sparked on Tuesday as the UK government said electricity generators will face higher windfall taxes as it pushes them to accept fixed-price contracts in an accelerated effort to protect consumers from gas market shocks such as the Iran war.
Generators will pay 55% tax on excess profits, up from the previous level of 45% as part of a joint initiative between the Department of Energy Security and the Treasury to speed up plans to delink gas and electricity prices.
The funds raised will help the government to support households during an energy crisis, officials said. Britons pay some of the highest electricity prices in the world because gas-fired power stations usually set the wholesale price across the market.
Shares in BluefieldSolar Income Fund, TRIG, Greencoat UK Wind, and Foresight Environmental Infrastructure were all higher on the news.
THG reported its strongest first-quarter revenue growth since 2021 on Tuesday, driven by momentum across its Beauty and Nutrition divisions, while reiterating full-year guidance.
Group revenue rose 4.6% year-on-year to £393.1m in the three months ended 31 March, or 7.0% on a constant currency basis.
The FTSE 250 company said the performance was supported by continued growth in both core segments, although disposals and discontinued activities reduced reported growth by 150 basis points and currency headwinds were most pronounced in the US.
FTSE 250 - Risers
Bluefield Solar Income Fund Limited (BSIF) 81.00p 5.33% The Renewables Infrastructure Group Limited (TRIG) 67.25p 4.67% Foresight Environmental Infrastructure Limited (FGEN) 71.90p 3.60% Shawbrook Group (SHAW) 386.75p 3.48% Trustpilot Group (TRST) 260.00p 3.41% Ocado Group (OCDO) 214.90p 3.22% Wetherspoon (J.D.) (JDW) 636.00p 3.08% Greencoat UK Wind (UKW) 98.74p 2.98% Dr. Martens (DOCS) 69.50p 2.96% Telecom Plus (TEP) 1,424.00p 2.75%
FTSE 250 - Fallers
Raspberry PI Holdings (RPI) 577.25p -5.09% Genuit Group (GEN) 295.80p -3.59% Baltic Classifieds Group (BCG) 200.60p -2.71% Pan African Resources (PAF) 157.82p -2.65% Hays (HAS) 33.28p -2.62% QinetiQ Group (QQ.) 470.80p -1.67% Hikma Pharmaceuticals (HIK) 1,357.00p -1.49% Hochschild Mining (HOC) 672.00p -1.47% Vistry Group (VTY) 350.40p -1.30% Plus500 Ltd (DI) (PLUS) 4,560.00p -1.30%
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