FTSE 250 movers: Greencore boosted by Starbucks expansion plans

1st Nov 2013 15:39

Irish food company Greencore was a strong riser on the second tier, most likely due to the news that Starbucks is planning to expand its food range in the US. Greencore is one of Starbucks's main food suppliers, as well as being the biggest sandwich maker in the world, making this big news for the FTSE 250 group.IP Group said it has made "significant progress" since its half year results as it reported a sharp rise in the value of its investments. The group said the fair value of its portfolio had jumped by £52.7m to £258.2m in the four months to October 30th. Meanwhile, mining stocks took a hit as investors weighed up UK and Chinese PMI data releases and metal prices moved lower. UK PMI slipped to 56 in October from a revised reading of 56.3 in September. That was a shade below the consensus estimate of 56.1 for the month but Markit pointed out the rate of expansion was only moderately below the two-and-a-half year high recorded in August. Chinese factory activity for the same month gave investors some cause for concern because although it climbed from 51.1 to 51.4 month-on-month, there was in fact a significant gap between big and small manufacturers, with the smaller companies actually experiencing a contraction in the four-week period. F&C Asset Management fell as it reported a fall in assets under management in the three months to the end of September. Its funds under management have dropped to £90.1bn at the end of September to £92.3bn after being hit by £2.2bn of net outflows from its strategic partners and a £1.5bn negative foreign exchange movement. FTSE 250 - RisersGreencore Group (GNC) 187.20p +3.94%IP Group (IPO) 152.00p +3.40%AL Noor Hospitals Group (ANH) 876.50p +3.12%RPS Group (RPS) 295.70p +1.97%Partnership Assurance Group (PA.) 416.00p +1.96%WH Smith (SMWH) 918.50p +1.94%Ashtead Group (AHT) 666.50p +1.76%Kenmare Resources (KMR) 20.70p +1.72%Wetherspoon (J.D.) (JDW) 717.00p +1.70%Homeserve (HSV) 238.10p +1.58%FTSE 250 - FallersPolymetal International (POLY) 565.50p -5.67%Afren (AFR) 152.10p -3.55%Go-Ahead Group (GOG) 1,631.00p -3.03%Bwin.party Digital Entertainment (BPTY) 119.20p -2.93%F&C Asset Management (FCAM) 98.85p -2.61%Alent (ALNT) 338.20p -2.42%Kazakhmys (KAZ) 255.60p -2.41%Wood Group (John) (WG.) 792.50p -2.40%Oxford Instruments (OXIG) 1,271.00p -2.23%Evraz (EVR) 115.40p -2.20%NR