FTSE 250 movers: Renishaw surges as investors celebrate strong finish to year

23rd Jul 2014 14:37

Renishaw's market value increased by almost a fifth on Wednesday as the engineering company delivered an all-time high annual revenue of £355.5m in the year to June 30th after a record fourth quarter. Numis upgraded the stock from 'hold' to 'add' today, helping the stock rise 19% by the afternoon.Copper miner Kazakhmys was also a standout performer, rising strongly as the market welcomed the company's de-merger plans. The company, which will be renamed KAZ Minerals, said it would split most of its operations into a company led by its largest investor and former chairman Vladimir Kim.Other miners, however, were out of favour with precious metal peers Centamin and Hochschild, both lower.Underlying profits at Morgan Advanced Materials, up 10% at £43.8m, were better than expected in the first half of the year, helping the stock higher today.Leading the fallers was spreadbetting firm IG Group as the stock pulled back after a solid rise the previous session. The company impressed with its annual results on Tuesday, with profits and revenues both growing despite a "subdued backdrop"qin at the end of the year.Defence, aerospace and security group QinetiQ also retreated after a well-received trading update yesterday. Canaccord Genuity downgraded the stock today from 'buy' to 'hold' "in the absence of short-term catalysts".FTSE 250 - RisersRenishaw (RSW) 1,750.00p +19.05%Kazakhmys (KAZ) 339.20p +6.40%Morgan Advanced Materials (MGAM) 316.40p +5.19%RPS Group (RPS) 274.80p +4.69%Vesuvius (VSVS) 463.00p +3.12%Enterprise Inns (ETI) 125.50p +2.87%Halfords Group (HFD) 496.10p +2.80%Intermediate Capital Group (ICP) 421.00p +2.66%Henderson Group (HGG) 255.90p +2.61%Evraz (EVR) 100.00p +2.41%FTSE 250 - FallersIG Group Holdings (IGG) 599.50p -3.23%QinetiQ Group (QQ.) 210.20p -2.46%Rightmove (RMV) 2,165.00p -1.72%Poundland Group (PLND) 320.60p -1.41%Ted Baker (TED) 1,677.00p -1.41%Hellermanntyton Group (HTY) 307.50p -1.28%Centamin (DI) (CEY) 73.55p -1.28%Hochschild Mining (HOC) 163.00p -1.21%COLT Group SA (COLT) 136.30p -1.16%Lancashire Holdings Limited (LRE) 608.50p -1.06%BC