FTSE 250 movers: Pollen Street surges; Mony Group slumps

Pollen Street confirmed on Wednesday that it is considering a sale, having begun an assessment of the strategic options available to it "with a view to delivering greater value for shareholders".

Responding to press speculation, the asset manager said it has initiated preliminary discussions with a limited number of third parties to establish their suitability as a strategic partner and whether they might be interested in making a possible offer for the company.

"These discussions are at a very early stage and remain ongoing," it said. "As such, there can be no certainty that an offer will be made for the company, nor as to the terms on which any such offer might be made, nor that the company will pursue or participate in any other transaction as a result of the strategic review, nor as to the terms of any such transaction."

The statement came after Reuters reported that Pollen Street has recently explored options, including a possible sale, as it ​looks to gain scale in the asset management industry.

Clean energy specialist Ceres Power Holdings reiterated its outlook on Wednesday, despite a fall in half-year gross profits.

The London-listed company, which develops fuel cells for power generation and electrolysers for green hydrogen, saw revenues rise 8% in the six months to 30 June to £22.8m. The rise was attributed to a "significant" one-off licence revenue, as part of its agreement with China’s Weichai Power.

However, profit declined 3% to £16.1m, reflecting the lower margin mix in the period. The gross margin weakened to 71% from 79%. Operating losses before one-off costs narrowed to £13.7m from £17.2m.

Phil Caldwell, chief executive, said: "We are seeing encouraging signs of commercial momentum across our partner network. This provides further validation of both the scale of the opportunity and the role solid oxide technology can play in address the time-to-power challenge.

"Combined with a stronger balance sheet following our successful capital raise and sharper commercial focus, this gives us confidence in our ability to capitalise on the significant opportunity ahead."

Looking to the rest of the year, and Ceres confirmed that contracted group revenue for 2026 is around £45m before any new business. "We remain confident that we can sign one new licensee partner in 2026. If successful, any revenue recognised in the current year would be in addition to [this] guidance."

Elsewhere, shares of online marketplaces and telecoms operators were under the cosh amid worries about the threat from new agentic AI tools. Mony Group, Baltic Classifieds and Auction Technology all fell.

FTSE 250 - Risers

Pollen Street Group Limited (POLN) 937.00p 14.85%
Ceres Power Holdings (CWR) 451.60p 4.12%
Hays (HAS) 65.05p 3.33%
AEP Plantations (AEP) 209.00p 2.71%
NCC Group (NCC) 137.60p 2.69%
The Schiehallion Fund Limited NPV (MNTN) 2.19p 1.86%
Baillie Gifford US Growth Trust (USA) 386.00p 1.85%
Renishaw (RSW) 5,620.00p 1.81%
Syncona Limited NPV (SYNC) 118.00p 1.72%
Raspberry PI Holdings (RPI) 619.75p 1.72%

FTSE 250 - Fallers

Mony Group (MONY) 175.90p -8.06%
Softcat (SCT) 1,839.00p -4.18%
Baltic Classifieds Group (BCG) 2.19p -3.44%
Rank Group (RNK) 79.30p -3.29%
W.A.G Payment Solutions (EWG) 91.40p -2.87%
Rightmove (RMV) 470.10p -2.85%
Partners Group Private Equity Limited. (EUR) (PEY) 6.78p -2.59%
Auction Technology Group (ATG) 437.00p -2.59%
Oxford Biomedica (OXB) 481.00p -2.43%
Mitchells & Butlers (MAB) 272.00p -2.33%