FTSE 250 movers: AO World retreats; Frasers gains on share buyback
London’s FTSE 250 was down 0.3% at 22,428.08 in afternoon trade on Tuesday.
Online electricals retailer AO World - which has benefited from Covid lockdowns and restrictions - was on the back foot.
Mike Ashley’s Frasers Group rallied after saying it was starting a share buyback of up to £60m to reduce its share capital.
The group, which includes Sports Direct, Jack Wills, and House of Fraser, said it would buy up to 10m shares from Tuesday up to the last day before it enters its closed period ahead of full year results.
London property owners Shaftesbury and Great Portland Estates were both higher as investors hoped for a more normal summer of shopping now that restrictions on non-essential stores have been lifted.
Gold miner Centamin shone as gold prices rose.
FTSE 250 - Risers
Frasers Group (FRAS) 550.50p 6.79%
Syncona Limited NPV (SYNC) 248.50p 4.63%
Cairn Energy (CNE) 176.50p 3.95%
Vectura Group (VEC) 116.80p 3.73%
Workspace Group (WKP) 850.50p 3.72%
Shaftesbury (SHB) 651.00p 3.58%
UDG Healthcare Public Limited Company (CDI) (UDG) 887.50p 3.56%
Centamin (DI) (CEY) 111.05p 3.40%
Great Portland Estates (GPOR) 716.00p 3.32%
Petropavlovsk (POG) 26.48p 3.12%
FTSE 250 - Fallers
AO World (AO.) 261.00p -6.12%
Network International Holdings (NETW) 398.00p -5.22%
Elementis (ELM) 142.10p -5.01%
Micro Focus International (MCRO) 495.20p -4.40%
Investec (INVP) 279.40p -4.15%
Baillie Gifford US Growth Trust (USA) 317.00p -4.08%
Edinburgh Worldwide Inv Trust (EWI) 343.50p -4.05%
Oxford Instruments (OXIG) 2,100.00p -3.67%
Just Group (JUST) 105.20p -3.57%
Allianz Technology Trust (ATT) 289.05p -3.49%