FTSE 250 movers: Ocado tastes good; Shawbrook shattered

Shares in online grocer Ocado jumped as the company said revenues and earnings grew in the first half of the year, reporting gross sales of £582.9m for the 24 weeks to 15 May on Tuesday, a 13.9% rise on £511.9m in the comparative period last year.

EBITDA hit £40.4m, a 5.7% increase from £38.2m, off the back of revenue of £584.2m, a 14.1% rise of 2014’s £507.7m.

Housebuilders recovered from the initial shock of Britain’s vote to leave the European Union with Bovis shares up.

Challenger bank Shawbrook Group, having seen its shares fall by a precipitous 45% of their value in two days following the Brexit vote fell 11% after revealing it will take a £9m impairment charge after finding "irregularities" in loans made by its asset finance department.

Shawbrook said a control breach, which it said had since been rectified after a thorough investigation, was "the result of a number of loans being underwritten in our asset finance business that did not meet the business's strict lending criteria".

Miners were lower as the price of the gold fell after investors sought a safe haven in the two days since the UK voted to leave the EU. Centamin, Acacia Mining and Vedanta Resources all fell.

Market Movers

FTSE 250 (MCX) 15,462.48 3.30%

FTSE 250 - Risers

IP Group (IPO) 136.60p 13.46%
AO World (AO.) 135.40p 12.37%
G4S (GFS) 179.50p 9.45%
Ocado Group (OCDO) 227.40p 9.27%
TR Property Inv Trust (TRY) 262.90p 8.77%
JRP Group (JRP) 104.40p 8.75%
Paysafe Group (PAYS) 366.20p 8.38%
Stagecoach Group (SGC) 213.80p 8.25%
Tritax Big Box Reit (BBOX) 123.90p 8.02%
Circassia Pharmaceuticals (CIR) 88.80p 7.96%

FTSE 250 - Fallers

Shawbrook Group (SHAW) 145.00p -11.10%
Centamin (DI) (CEY) 123.40p -5.15%
Acacia Mining (ACA) 426.20p -3.14%
Countrywide (CWD) 243.60p -2.56%
SSP Group (SSPG) 276.50p -2.05%
Dunelm Group (DNLM) 765.50p -1.80%
CLS Holdings (CLI) 1,280.00p -1.77%
Vedanta Resources (VED) 388.20p -1.22%
PZ Cussons (PZC) 315.00p -1.07%
Softcat (SCT) 297.70p -0.93%