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FTSE 250 movers: Redrow and Renishaw rally
(Sharecast News) - London's FTSE 250 was up 0.1% at 18,554.07 in afternoon trade on Wednesday. Housebuilder Redrow rallied despite saying that weekly sales over the summer had almost halved due to rising mortgage costs amid a "challenging" market and revealed a fall in full year profits.
Victoria Scholar, head of investment at Interactive Investor, said full-year underlying pre-tax profit came in ahead of analysts' expectations.
Rivals Bellway and Vistry also gained.
Engineering company Renishaw was higher after it delayed the release of its full-year results by a few days but reiterated guidance.
The results for the year to 30 June 2023 were pushed back from 14 September to 19 September.
Renishaw said it expects to reports revenue of £688.6m, down from £671.1m the year before, and adjusted pre-tax profit of £141m, down from £163.7m. This was in line with previous guidance.
FTSE 250 - Risers
Redrow (RDW) 497.40p 5.16% Ithaca Energy (ITH) 160.60p 4.69% Wizz Air Holdings (WIZZ) 2,033.00p 3.12% Bellway (BWY) 2,194.00p 2.52% Renishaw (RSW) 3,670.00p 1.89% Dr. Martens (DOCS) 153.40p 1.79% Vistry Group (VTY) 919.50p 1.60% Paragon Banking Group (PAG) 515.50p 1.58% Victrex plc (VCT) 1,422.00p 1.50% Morgan Advanced Materials (MGAM) 243.50p 1.25%
FTSE 250 - Fallers
Helios Towers (HTWS) 87.15p -4.39% Vanquis Banking Group 20 (VANQ) 115.20p -3.68% Bakkavor Group (BAKK) 99.00p -3.41% Watches of Switzerland Group (WOSG) 597.50p -3.40% TI Fluid Systems (TIFS) 120.20p -3.22% C&C Group (CDI) (CCR) 133.60p -3.05% W.A.G Payment Solutions (WPS) 88.40p -2.86% Syncona Limited NPV (SYNC) 120.00p -2.76% Bridgepoint Group (Reg S) (BPT) 193.70p -2.66% Octopus Renewables Infrastructure Trust (ORIT) 85.00p -2.52%
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