FTSE 250 movers: Diploma rallies on results; Hochschild tumbles
London’s FTSE 250 was flat at 23,485.44 in afternoon trade on Monday .
Diploma was among the gainers after it reported a jump in full-year pre-tax profit amid improved demand and backed its outlook for FY22.
In the year ended 30 September, adjusted pre-tax profit rose 68% to £141.9m, while underlying revenue grew 12% and reported revenues were up 46% on the year to £787.4m. Diploma said this includes a "very pleasing" contribution from acquisitions, particularly Windy City Wire.
Marks & Spencer gained following a report that US private equity firm Apollo Global Management is considering a buyout.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said: "Apollo will be weighing up the future value of Marks and Spencer’s e-commerce tie-up with Ocado, and speculation that its success so far may lead the retailer to buy out Ocado’s 50% share indicates the weight of expectation about its growth prospects.
"However, shares have surged more than 27% since those impressive results and if the price continues to climb, there is a chance Apollo may turn into more of a reluctant suitor."
On the downside, Hochschild Mining tumbled after it said it would fight what it called an "illegal" plan by Peru to close two of its mines on environmental grounds.
FTSE 250 - Risers
Harbour Energy (HBR) 400.00p 7.53%
Diploma (DPLM) 3,438.00p 7.30%
Liontrust Asset Management (LIO) 2,230.00p 5.19%
CMC Markets (CMCX) 251.00p 4.15%
Investec (INVP) 384.50p 3.19%
XP Power Ltd. (DI) (XPP) 5,310.00p 3.11%
Marks & Spencer Group (MKS) 248.20p 3.07%
Bridgepoint Group (Reg S) (BPT) 549.00p 3.00%
Virgin Money UK (VMUK) 180.55p 2.44%
Syncona Limited NPV (SYNC) 214.50p 2.14%
FTSE 250 - Fallers
Hochschild Mining (HOC) 108.00p -34.39%
Petropavlovsk (POG) 20.88p -6.20%
Centamin (DI) (CEY) 96.30p -5.36%
AO World (AO.) 125.00p -4.94%
Cineworld Group (CINE) 58.56p -4.31%
National Express Group (NEX) 220.20p -3.42%
Just Group (JUST) 84.90p -3.03%
Beazley (BEZ) 405.80p -2.99%
Indivior (INDV) 245.80p -2.85%
Endeavour Mining (EDV) 1,905.00p -2.81%