FTSE 250 movers: Future flies, Signature Aviation dives
London's FTSE 250 was higher by 0.79% at 20,646.92 in afternoon trade on Monday, with shares of Future leading the index upward.
Marks & Spencer was also in the green as analysts at Shore Capital voiced their approval at the appointment of Richard Price as the new managing director of the retailer's key clothing & home activities.
"Price has worked for M&S in the past and so knows of its weaknesses, some of the past skeletons, which may yet need to be dug up and cleared out, and also the business' virtues, of which there remain several, most notably underwear, lingerie and nightwear," said analysts.
Real estate investment trust NewRiver climbed after it bought the Sprucefield retail park in Northern Ireland from Intu Properties for £40m, representing a net initial yield of 8.7%.
Down at the other end of the index, Signature Aviation, formerly BBA Aviation, tumbled as it announced a share consolidation alongside its recent name change.
Restaurant Group was under the cosh after a trading update from its restaurant chain Wagamama, which said second-quarter UK like-for-like sales were up 6.3%.
This was down from 12.9% UK growth reported in the first quarter, albeit against tougher comparatives.
Precious metals miner Hochschild Mining was hit by a downgrade to ‘underperform’ at Bank of America Merrill Lynch and IT infrastructure provider Softcat was weaker after a downgrade to ‘hold’ at Berenberg.
Finally, Petrofac dropped after the Guardian, citing unnamed sources, reported that the oilfield services company has been accused of maintaining a fake set of accounts to disguise the payment of bribes to foreign government officials.
FTSE 250 (MCX) 20,646.92 0.79%
FTSE 250 - Risers
Future (FUTR) 1,476.00p 4.38%
Spectris (SXS) 2,766.00p 3.79%
Genus (GNS) 3,090.00p 3.48%
Diploma (DPLM) 1,824.00p 3.28%
Marks & Spencer Group (MKS) 198.20p 3.26%
Rank Group (RNK) 242.50p 3.19%
NewRiver REIT (NRR) 185.20p 3.12%
SIG (SHI) 122.70p 2.94%
Ibstock (IBST) 259.20p 2.86%
Grafton Group Units (GFTU) 858.00p 2.82%
FTSE 250 - Fallers
Signature Aviation (SIG) 317.45p -19.33%
Restaurant Group (RTN) 133.60p -8.49%
Hochschild Mining (HOC) 160.80p -5.47%
Equiniti Group (EQN) 195.20p -2.89%
Vivo Energy (VVO) 120.00p -2.60%
Softcat (SCT) 1,133.00p -2.41%
Petrofac Ltd. (PFC) 392.20p -2.05%
Tullow Oil (TLW) 136.45p -2.01%
IP Group (IPO) 59.30p -1.98%
Plus500 Ltd (DI) (PLUS) 742.20p -1.59%