London’s FTSE 250 was flat at 22,488.40 in afternoon trade on Tuesday.
Royal Mail was the top performer amid expectations it will return to the FTSE 100 in the next reshuffle.
AJ Bell said: “If Renishaw is demoted, that would open the way for a return to the FTSE 100 for Royal Mail, whose market cap ranks it 93rd.
“This would be Royal Mail’s third stint in the UK’s premier index, after those of 2013-17 (which came almost immediately after its initially very successful flotation) and then March to December 2018. Stake-building by Czech billionaire Daniel Kretinsky, soaring parcel volumes, a good performance from its overseas GLS operations and a return to the dividend list have all underpinned a surge in Royal Mail’s shares, which has also reflected investors’ switch from toward downtrodden, recovery (or ‘value’) plays over the past few months, and since Pfizer Monday last November in particular.”
Greencore was under the cosh after the convenience food maker said it swung to a loss in the first half as Covid-related restrictions and lockdowns dented revenues.
Avon Rubber was also in the red despite posting a jump in interim profit and revenue.
Trainline fell after a downgrade at Stifel, while Provident Financial was weaker as guarantor lender Amigo Holdings said the High Court had rejected its rescue plan.
West End landlord Shaftesbury lost ground as it reported a wider first-half loss but said the recovery was gathering momentum.
FTSE 250 – Risers
Royal Mail (RMG) 592.20p 7.67%
Cineworld Group (CINE) 95.12p 6.16%
Carnival (CCL) 1,735.00p 5.55%
Rank Group (RNK) 204.50p 4.23%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,439.00p 4.01%
Premier Foods (PFD) 111.40p 3.53%
Aston Martin Lagonda Global Holdings (AML) 1,979.00p 2.97%
National Express Group (NEX) 303.20p 2.78%
Petropavlovsk (POG) 25.50p 2.74%
Wizz Air Holdings (WIZZ) 4,705.00p 2.68%
FTSE 250 – Fallers
Greencore Group (CDI) (GNC) 141.80p -16.98%
Avon Rubber (AVON) 2,984.00p -8.69%
Trainline (TRN) 275.00p -7.41%
Provident Financial (PFG) 244.20p -5.71%
Hammerson (HMSO) 35.21p -4.35%
Sirius Real Estate Ltd. (SRE) 96.00p -3.42%
Dr. Martens (DOCS) 484.40p -3.12%
Ferrexpo (FXPO) 444.00p -2.89%
Workspace Group (WKP) 849.50p -2.47%
Shaftesbury (SHB) 584.00p -2.42%
