FTSE 250 movers: Ashmore rises after update; housebuilders take a hit

London’s FTSE 250 was up 1.9% at 18,837.30 in afternoon trade on Friday.

Private equity firm Bridgepoint was the top performer on the index.

Asset manager Ashmore was a high riser even as it said that assets under management and earnings slipped in the 12 months ended 30 June as Russia's invasion of Ukraine and inflationary concerns led to widespread risk aversion.

Housebuilders Redrow, Crest Nicholson and Bellway were all under the cosh after a downgrade to ‘hold’ from ‘buy’ at HSBC. The bank said the sector was set for a downturn in the face of rising interest rates and falling house prices.

It said in a note: "The HSBC Building Materials team now forecasts a 20% fall in UK housing demand for a year from this autumn, a concomitant 7.5% fall in UK existing house prices, excluding central London at double that, and a 5% fall in UK new build prices."

Peer Vistry was also in the red, even though HSBC maintained its ‘buy’ rating on the shares.

FTSE 250 - Risers

Bridgepoint Group (Reg S) (BPT) 269.60p 13.76%
Ashmore Group (ASHM) 208.40p 7.31%
Carnival (CCL) 714.80p 4.81%
Jupiter Fund Management (JUP) 95.70p 4.70%
Hochschild Mining (HOC) 61.85p 4.56%
Softcat (SCT) 1,270.00p 4.35%
IP Group (IPO) 69.00p 4.23%
Polymetal International (POLY) 208.00p 4.00%
Hill & Smith Holdings (HILS) 997.00p 3.85%
Great Portland Estates (GPE) 517.00p 3.65%

FTSE 250 - Fallers

Redrow (RDW) 457.80p -6.69%
Crest Nicholson Holdings (CRST) 210.00p -5.66%
Bellway (BWY) 1,896.50p -4.34%
XP Power Ltd. (DI) (XPP) 1,860.00p -4.02%
Vistry Group (VTY) 719.50p -2.90%
Moonpig Group (MOON) 175.20p -2.72%
Marks & Spencer Group (MKS) 118.55p -2.59%
Coats Group (COA) 57.00p -2.06%
Countryside Partnerships (CSP) 224.40p -2.01%
Auction Technology Group (ATG) 759.00p -1.43%