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02 Mar 2021 | 15:34

FTSE 250 movers: Renishaw rallies; Provident Financial hit by downgrade

(Sharecast News) - London's FTSE 250 was flat at 21,212.61 in afternoon trade on Tuesday. Renishaw surged to the top of the index after the engineer said it was putting itself up for sale as its founders look to sell their stake.

The company said executive chairman Sir David McMurtry and non-executive deputy chairman John Deer would sell their shareholdings in Renishaw, which together make up around 53% of the group.

Rotork was also in the black after well-received full-year results.

Doorstep lender Provident Financial lost ground after Canaccord Genuity downgraded its stance on the shares to 'sell' from 'speculative buy' and cut its price target to 264p from 290p as it highlighted caution regarding claims.

Travis Perkins was also in the red after the builders' merchant said it has re-started the process to demerge Wickes and that it swung to a full-year loss following disruption from the Covid-19p pandemic.

FTSE 250 - Risers

Renishaw (RSW) 6,875.00p 18.53% TP Icap Group (TCAP) 249.95p 5.24% Rotork (ROR) 372.60p 4.19% Lancashire Holdings Limited (LRE) 644.50p 4.04% Cineworld Group (CINE) 103.95p 3.97% Hammerson (HMSO) 28.39p 3.42% AO World (AO.) 289.50p 3.39% Centamin (DI) (CEY) 104.55p 3.21% Baillie Gifford US Growth Trust (USA) 352.00p 2.92% Capita (CPI) 48.86p 2.63%

FTSE 250 - Fallers

Provident Financial (PFG) 272.80p -4.75% OSB Group (OSB) 429.80p -4.49% Trainline (TRN) 505.50p -4.17% Workspace Group (WKP) 768.00p -4.00% SSP Group (SSPG) 347.60p -3.61% Genus (GNS) 5,045.00p -3.07% Mitchells & Butlers (MAB) 299.00p -2.92% FirstGroup (FGP) 86.00p -2.88% Travis Perkins (TPK) 1,436.00p -2.84% TUI AG Reg Shs (DI) (TUI) 440.90p -2.63%
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