FTSE 250 movers: Renishaw rises after seeing continued strong demand

11th Nov 2014 14:32

Renishaw rose strongly after it reiterated its full-year guidance, saying that it continues to see "strong demand" across its product lines. The British engineering firm expects to achieve revenue between £425m and £445m and adjusted pre-tax profit between £95m and £105m. The group said it is increasing its investment in manufacturing capacity to meet growing demand.Housebuilder Taylor Wimpey climbed after upgrading its margin guidance for the full year ahead of analysts' expectations. The company said it now expects its full-year operating margin to grow by around 400 basis points (bp). In July it had guided to an increase of "at least 300bp" from the 13.6% in 2013.On the downside, maker of reinforced polymer technology Fenner posted a drop in annual profits and revenue, reflecting currency headwinds and difficult trading conditions in the US and Australia. Pre-tax profit fell to £29.2m in the year ended 31 August from £66.4m the previous year. Revenue dropped to £729.4m from £820.6m.TalkTalk shares slumped after the company gave cause for concern with its outlook for the remainder of the year, revealing that its acquisition costs are set to be higher than previously expected. It was by no means all bad news for the group though, with revenue growth of 3.3% to £871m in the first half, driven by the strong performance of TV, broadband, fibre and mobile divisions.Oil and gas exploration and production company, Afren, failed to impress despite delivering a generally positive update on its numerous operations located offshore Nigeria.FTSE 250 - RisersRenishaw (RSW) 1,937.00p +9.56%PayPoint (PAY) 955.00p +4.14%Taylor Wimpey (TW.) 121.60p +3.67%Cairn Energy (CNE) 183.10p +3.45%Moneysupermarket.com Group (MONY) 203.50p +3.19%Aveva Group (AVV) 1,547.00p +3.13%Bwin.party Digital Entertainment (BPTY) 105.50p +2.73%Cable & Wireless Communications (CWC) 47.23p +2.65%Domino's Pizza Group (DOM) 649.00p +2.61%Northgate (NTG) 485.00p +2.11%FTSE 250 - FallersFenner (FENR) 290.60p -5.99%TalkTalk Telecom Group (TALK) 280.10p -5.56%Afren (AFR) 78.00p -5.40%Ocado Group (OCDO) 316.60p -4.61%Premier Oil (PMO) 247.70p -3.47%Hochschild Mining (HOC) 96.70p -3.30%Lonmin (LMI) 189.50p -2.82%Vedanta Resources (VED) 798.00p -2.80%Halfords Group (HFD) 473.30p -2.69%EnQuest (ENQ) 70.15p -2.57%