FTSE 250 movers: Babcock bounces back; Rotork shares fall
London’s FTSE 250 was up 0.3% at 23,284.38 in afternoon trade on Tuesday.
Babcock was the standout gainer, having slumped at the end of last week following the release of its full-year results.
Direct Line gained after it reported higher interim earnings on the back of lower motor claims as the Covid pandemic kept drivers off roads during lockdowns The owner of the Churchill, Green Flag and Darwin brands reported a £370m operating profit for the six months to June 30, up from £265m a year ago.
Insurer Hiscox also gained after saying it swung to an interim profit as gross premiums written rose across its divisions.
On the downside, industrial instruments maker Rotork fell as it announced plans for chief executive Kevin Hostetler to leave the company and posted a 2.4% profit increase for the first half. Adjusted operating profit rose to £62.7m in the six months to the end of June from £61.2m a year earlier as revenue increased 1.8% to £288.3m. Rotork declared an interim dividend of 2.35p a share.
Bakery chain Greggs was also in the red despite saying that full-year profit was set to be "slightly ahead" of its previous expectation as it swung to a first-half profit as sales picked up after Covid restrictions were eased.
Travel and leisure stocks were under the cosh again, with Carnival, Cineworld, easyJet, Mitchells & Butlers and SSP all weaker.
FTSE 250 - Risers
Babcock International Group (BAB) 279.70p 6.23%
Direct Line Insurance Group (DLG) 316.00p 5.51%
Hiscox Limited (DI) (HSX) 911.00p 5.24%
ICG Enterprise Trust (ICGT) 1,114.00p 4.31%
Indivior (INDV) 172.00p 4.24%
IP Group (IPO) 122.00p 3.74%
JTC (JTC) 686.00p 3.16%
HGCapital Trust (HGT) 406.00p 3.05%
CLS Holdings (CLI) 255.50p 3.02%
Vesuvius (VSVS) 540.50p 2.95%
FTSE 250 - Fallers
Rotork (ROR) 338.80p -6.62%
Carnival (CCL) 1,378.40p -4.26%
Cineworld Group (CINE) 64.38p -3.42%
Dunelm Group (DNLM) 1,291.00p -3.08%
easyJet (EZJ) 823.20p -2.74%
Mitchells & Butlers (MAB) 278.20p -2.39%
Capital & Counties Properties (CAPC) 171.80p -2.16%
Greggs (GRG) 2,749.00p -1.96%
Dr. Martens (DOCS) 423.60p -1.94%
SSP Group (SSPG) 258.80p -1.90%