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FTSE 250 movers: Index up on strong earnings as Spectris leads way
(Sharecast News) - The FTSE 250 was up 1.26% at 20,694.42 at 1450 BST.
Spectris shares gained as the company said it got off to a strong start to 2022 with organic sales and order intake both rising sharply on the back of the continuing recovery in its end markets and new products.
Utility supplier Telecom Plus shares were up after saying full-year profits were expected to be in line with expectations, despite additional operating costs during the second half as the group attempted to position itself for "an extended period of rapid organic growth".
Inchcape rose after it reported a strong start to the year, as strong demand continued to outpace supply. Updating on first quarter trading, the car dealership said group revenue was £1.8bn in the three months to 31 March, up 6% year-on-year, or by 13% on a like-for-like basis.
Insurance firm Lancashire Holdings was up after reporting gross written premiums had increased 34.7% year-on-year in the three months ended 31 March to $477.9m.
Weir Group shares fell as the company said it was exiting Russia and would take a hit to underlying earnings of up to £20m.
FTSE 250 - Risers
Spectris (SXS) 2,872.00p 7.65% Network International Holdings (NETW) 267.00p 6.80% Telecom Plus (TEP) 1,632.00p 6.67% Inchcape (INCH) 705.00p 5.86% Lancashire Holdings Limited (LRE) 421.80p 5.82% Synthomer (SYNT) 300.80p 5.17% Moonpig Group (MOON) 199.70p 4.77% Renishaw (RSW) 4,146.00p 4.38% Molten Ventures (GROW) 709.50p 4.11% Hays (HAS) 122.10p 4.09%
FTSE 250 - Fallers
Tyman (TYMN) 273.00p -4.55% Weir Group (WEIR) 1,551.00p -3.66% Morgan Sindall Group (MGNS) 2,205.00p -2.65% Sequoia Economic Infrastructure Income Fund Limited (SEQI) 99.00p -1.79% Drax Group (DRX) 813.00p -1.69% Playtech (PTEC) 523.50p -1.60% BH Macro Ltd. GBP Shares (BHMG) 4,310.00p -1.37% Hochschild Mining (HOC) 115.40p -1.20% Centamin (DI) (CEY) 89.88p -0.82% UK Commercial Property Reit Limited (UKCM) 91.30p -0.76%
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