FTSE 250 movers: Greggs leaps on pasty-gate reversal

29th May 2012 15:15

Bakery chain Greggs soared after it was announced that the government is to back down on plans to introduce VAT on hot savouries. Canaccord Genuity upgraded the stock from hold to buy this morning, saying that the 'pasty-gate' u-turn removes "significant financial and strategic risk for Greggs". Bank note printer De La Rue fell sharply despite reporting revenues well ahead of expectations as it cautioned its current improvement plan is set to cost more than originally anticipated. FTSE 250 - RisersInterserve (IRV) 303.70p +6.90%Greggs (GRG) 498.00p +6.73%Essar Energy (ESSR) 116.10p +6.51%Kenmare Resources (KMR) 43.39p +4.38%Lamprell (LAM) 109.00p +4.31%Heritage Oil (HOIL) 125.40p +3.98%Victrex (VCT) 1,381.00p +3.76%Yule Catto & Co (YULC) 199.40p +3.75%Afren (AFR) 120.30p +3.62%Hays (HAS) 74.60p +3.61%FTSE 250 - FallersBumi (BUMI) 345.90p -3.60%De La Rue (DLAR) 977.00p -3.17%FirstGroup (FGP) 215.30p -2.62%Bwin.party Digital Entertainment (BPTY) 123.60p -2.29%National Express Group (NEX) 188.30p -2.23%SVG Capital (SVI) 262.40p -1.91%Go-Ahead Group (GOG) 1,108.00p -1.69%Informa (INF) 355.00p -1.55%TUI Travel (TT.) 165.20p -1.49%Dixons Retail (DXNS) 14.77p -1.34%NR