London’s FTSE 250 was down 2.2% at 19,379.29 in afternoon trade on Monday.
High performance polymer solutions provider Victrex was in the red after it posted a drop in interim profits but a jump in revenues thanks to a strong performance in most industrial end markets. In the six months to the end of March, underlying pre-tax profit ticked up 3% to £48.2m, but reported pre-tax profit was down 6% to £43.6m, reflecting £4.6m of exceptional items relating to a one-off software implementation expense.
Defence technology group Qinetiq was sitting pretty at the top of the index, with traders pointing to the ongoing conflict in Ukraine.
Cyber security company NCC Group gained after saying it appointed a new chief executive and lifting revenue guidance for the second half of the year.
Insurer Beazley was on the rise after Berenberg lifted its price target on the stock to 630p from 610p and said it remains its top pick in the London market.
“We struggle to find any negatives from Beazley’s Q1 trading statement,” the bank said.
FTSE 250 – Risers
QinetiQ Group (QQ.) 363.40p 6.69%
NCC Group (NCC) 192.00p 3.78%
Beazley (BEZ) 446.20p 3.72%
AJ Bell (AJB) 256.00p 2.56%
Wood Group (John) (WG.) 230.00p 2.50%
Hiscox Limited (DI) (HSX) 949.60p 2.48%
Clipper Logistics (CLG) 868.00p 2.24%
Moonpig Group (MOON) 205.20p 2.09%
HICL Infrastructure (HICL) 176.20p 1.85%
Domino’s Pizza Group (DOM) 309.40p 1.51%
FTSE 250 – Fallers
Chrysalis Investments Limited NPV (CHRY) 128.80p -12.02%
Ferrexpo (FXPO) 140.00p -8.02%
Aston Martin Lagonda Global Holdings (AML) 779.40p -6.07%
Baillie Gifford US Growth Trust (USA) 166.60p -5.88%
Victrex plc (VCT) 1,699.00p -5.51%
Tullow Oil (TLW) 54.50p -5.46%
Oxford Instruments (OXIG) 2,125.00p -5.13%
Future (FUTR) 1,929.00p -5.07%
Allianz Technology Trust (ATT) 227.00p -5.02%
Dr. Martens (DOCS) 193.10p -4.88%
