FTSE 250 movers: Dunelm slumps after share sale; Serco boosted by acquisition
London’s FTSE 250 was down 0.1% at 21,400.03 in afternoon trade on Tuesday.
Homeware retailer Dunelm slumped after deputy chairman Will Adderley sold 15m shares in the company.
The shares, which represent a stake of about 7.4%, were placed at 1,280p each, which is a 9% discount to the closing share price on Monday. They were sold to institutional investors in a placing managed by Barclays and Goldman Sachs International.
Upper Crust owner SSP, pub group Mitchells & Butlers and National Express were all weaker, having rallied a day earlier amid vaccine optimism.
Going the other way, Mecca Bingo and Grosvenor Casinos owner Rank Group was the top gainer, likely amid hopes that casinos and bingo halls will soon be able to reopen.
Travel company TUI was also on the rise.
Outsourcer Serco gained after it agreed to buy Whitney, Bradley & Brown, a provider of advisory, engineering and technical services to the US military, for $295m.
Rotork was also in the black after an upgrade to ‘buy’ at Jefferies.
FTSE 250 - Risers
Rank Group (RNK) 139.80p 6.23%
TUI AG Reg Shs (DI) (TUI) 364.20p 5.26%
Serco Group (SRP) 125.20p 4.59%
Safestore Holdings (SAFE) 815.00p 4.42%
IP Group (IPO) 115.00p 3.60%
Rotork (ROR) 357.80p 2.99%
Liontrust Asset Management (LIO) 1,310.00p 2.75%
Aston Martin Lagonda Global Holdings (AML) 2,184.00p 2.58%
IG Group Holdings (IGG) 816.50p 2.51%
Essentra (ESNT) 311.60p 2.50%
FTSE 250 - Fallers
Dunelm Group (DNLM) 1,311.00p -6.89%
SSP Group (SSPG) 299.80p -6.02%
Mitchells & Butlers (MAB) 337.50p -4.80%
National Express Group (NEX) 307.60p -3.09%
Pets at Home Group (PETS) 415.20p -2.76%
Oxford Instruments (OXIG) 1,950.00p -2.50%
Investec (INVP) 215.10p -2.49%
Centamin (DI) (CEY) 110.70p -2.42%
Euromoney Institutional Investor (ERM) 980.00p -2.39%
Quilter (QLT) 156.55p -2.19%