FTSE 250 movers: Alliance up on RIT approach; Sophos still out of favour

The FTSE 250 index of midcap shares traded slightly lower on Tuesday afternoon as commodity price woes and a weaker pound affected sentiment.

Alliance Trust shares rose after the company said it has received an unsolicited, informal approach from fellow FTSE 250 investment trust RIT Capital Partners that proposed a merger of the two companies.

Alliance stressed that "no detailed terms" were provided by RIT and it will incorporate any formal offer within its recently started internal strategic review.

Hikma Pharmaceuticals rose on reports it could be back in the FTSE 100 index after being demoted in March.

Among the fallers, Sophos Group was still out of favour after last Friday's annual results showed a widening loss.

Market Movers

FTSE 250 (MCX) 17,221.22 -0.06%

FTSE 250 - Risers

IP Group (IPO) 169.70p 4.05%
Hikma Pharmaceuticals (HIK) 2,303.00p 3.51%
Alliance Trust (ATST) 525.50p 3.34%
Zoopla Property Group (WI) (ZPLA) 329.90p 2.93%
Ophir Energy (OPHR) 71.80p 2.57%
Allied Minds (ALM) 342.60p 2.51%
Ibstock (IBST) 207.80p 2.26%
Softcat (SCT) 354.20p 2.22%
Halma (HLMA) 953.50p 2.14%
Micro Focus International (MCRO) 1,629.00p 1.81%

FTSE 250 - Fallers

Sophos Group (SOPH) 208.60p -4.31%
Man Group (EMG) 131.80p -3.44%
Euromoney Institutional Investor (ERM) 926.00p -3.39%
Ashmore Group (ASHM) 286.10p -3.05%
Investec (INVP) 473.20p -2.91%
Clarkson (CKN) 2,259.00p -2.63%
Aldermore Group (ALD) 214.40p -2.55%
Halfords Group (HFD) 437.80p -2.52%
Evraz (EVR) 113.70p -2.40%
Virgin Money Holdings (UK) (VM.) 369.30p -2.30%