FTSE 250 movers: Vesuvius erupts after update; investors hang up on TalkTalk

London's FTSE 250 was up 0.3% to 19,882.50 in afternoon trade as investors sifted through corporate news.

Vesuvius racked up impressive gains after saying it was "cautiously optimistic" about its likely trading performance in 2017 following a "strong" first quarter, with the weak pound continuing to provide a tailwind.

Without giving any precise details on revenue or profit, the molten metal engineer said the encouraging early trend of an improved global market environment that it highlighted in March has continued across its major regions had resulted in a "strong Q1 2017 in comparison to a relatively weak Q1 2016".

Paving supplier Marshalls was also on the front foot as it reported a rise in revenue for the first four months of the year as underlying indicators in its end markets remain strong. Revenue was up 6% to £135m, with sales in the domestic end market, which account for 33% of group sales, up 13% compared with the same period a year ago.

On the downside, TalkTalk shares tumbled as it reported full-year adjusted operating profit short of expectations and said it will cut the dividend in the current year.

Serco was lower as Credit Suisse upped its price target on the 'neutral' rated stock but said healthy bid prospects are reflected in the share price.

Engineer Renishaw was weaker despite lifting its full-year pre-tax profit and revenue forecasts as it reported a rise in third-quarter profit and revenue.

Revenue in the quarter to the end of March came in at £141.7m from £109.6m the year before, while cumulative revenue for the nine months rose to £382.2m from £308.1m. Meanwhile, pre-tax profit came in at £33.6m, up from £21.8m and cumulative pre-tax profit to 31 March was £69.3m compared with a restated £504m last year.

Risers

Vesuvius (VSVS) 590.00p 8.66%
Marshalls (MSLH) 410.90p 4.55%
Ferrexpo (FXPO) 164.20p 4.06%
Hill & Smith Holdings (HILS) 1,398.00p 3.71%
Greencore Group (GNC) 239.60p 3.01%
Vedanta Resources (VED) 622.50p 2.98%
Indivior (INDV) 338.40p 2.55%
JRP Group (JRP) 132.20p 2.40%
Dixons Carphone (DC.) 333.00p 2.40%
Millennium & Copthorne Hotels (MLC) 461.90p 2.17%

Fallers

TalkTalk Telecom Group (TALK) 165.20p -9.48%
Serco Group (SRP) 115.80p -3.34%
Spectris (SXS) 2,763.00p -2.51%
Renishaw (RSW) 3,527.00p -2.19%
SIG (SHI) 123.30p -2.07%
BGEO Group (BGEO) 3,584.00p -2.02%
Allied Minds (ALM) 145.30p -1.89%
ZPG Plc (ZPG) 360.80p -1.72%
Carillion (CLLN) 222.50p -1.59%
Cobham (COB) 135.20p -1.31%