FTSE 250 movers: Renishaw gains on update; Acacia loses its shine
London’s FTSE 250 was up 0.1% to 20,150.98 in afternoon trade on Friday.
Engineer Renishaw racked up healthy gains after posting a rise in first-quarter profit and revenue thanks in part to a number of large orders from Far East customers in the consumer electronics markets.
In an update for the three months to 30 September, the company said adjusted pre-tax profit was up 137% to £35.8m and statutory pre-tax profit increased to £36.9m from £10.7m the year before. Meanwhile, revenue from continuing operations came in at £142.3m, up 26% from the corresponding period last year.
TBC Bank was on the front foot after saying that its subsidiary, JSC TBC Bank, has signed syndicated loan agreements in the total amount of $106.5m with the Netherlands Development Finance Company (FMO). This is the second syndicated loan agreement arranged by FMO, TBC's long-standing partner.
Going the other way, gold miner Acacia Mining lost its shine a day after a deal was struck to try and resolve its exports and tax dispute with the Tanzanian government, as it reported on Friday that revenue fell 40% for the third quarter and its cash balance diminished.
From 191,203 oz of gold produced during the quarter, the company sold 132,787 oz to generate revenue of $171m, down 40% as the Tanzania's ban on concentrate exports resulted in the loss of roughly $90m of gross revenue during the quarter.
Risers
Spire Healthcare Group (SPI) 256.50p 3.85%
Evraz (EVR) 328.30p 3.76%
Renishaw (RSW) 4,850.00p 2.97%
TBC Bank Group (TBCG) 1,715.00p 2.82%
Just Group (JUST) 155.20p 1.97%
Petrofac Ltd. (PFC) 422.10p 1.96%
Provident Financial (PFG) 907.50p 1.85%
Metro Bank (MTRO) 3,609.00p 1.78%
Indivior (INDV) 333.30p 1.68%
Sirius Minerals (SXX) 26.13p 1.67%
Fallers
Acacia Mining (ACA) 190.20p -10.28%
Brown (N.) Group (BWNG) 310.70p -4.61%
JD Sports Fashion (JD.) 336.80p -4.40%
CLS Holdings (CLI) 214.10p -3.03%
Essentra (ESNT) 500.00p -2.53%
Tate & Lyle (TATE) 628.00p -2.10%
Hunting (HTG) 457.40p -1.70%
Intu Properties (INTU) 218.60p -1.49%
Dechra Pharmaceuticals (DPH) 2,045.00p -1.45%
888 Holdings (888) 244.80p -1.25%