FTSE 250 movers: Watches of Switzerland surges; Vesuvius in the red

London’s FTSE 250 was 3% higher in afternoon trade on Tuesday at 18,458.06.

Watches of Switzerland surged as RBC Capital Markets hiked its price target on the stock to 950p from 800p and reiterated its ‘outperform’ rating, citing an attractive growth outlook.

Iconic bootmaker Dr Martens was also in the black as it announced the appointment of Giles Wilson as its new chief financial officer.

Wilson joins Dr Martens from spirits company William Grant & Sons Limited, which owns premium brands including Glenfiddich Scotch Whisky, The Balvenie Whisky and Hendrick's Gin. Prior to this, Wilson was at John Menzies as CFO between 2016 and 2020, and then subsequently became CEO from 2019 to 2020.

Vesuvius slid as the molten metal flow engineer said it was still set to meet its full-year expectations, despite weaker market conditions.

Bank of Georgia tumbled after third-quarter results.

FTSE 250 - Risers

Watches of Switzerland Group (WOSG) 622.00p 9.03%
Helios Towers (HTWS) 69.30p 7.94%
Wizz Air Holdings (WIZZ) 1,796.50p 7.38%
Dr. Martens (DOCS) 116.20p 7.29%
IWG (IWG) 151.10p 7.24%
CLS Holdings (CLI) 97.60p 7.02%
Ceres Power Holdings (CWR) 199.00p 6.99%
British Land Company (BLND) 341.80p 6.98%
888 Holdings (DI) (888) 83.55p 6.70%
Great Portland Estates (GPE) 434.40p 6.47%

FTSE 250 - Fallers

Vesuvius (VSVS) 397.40p -6.05%
Bank of Georgia Group (BGEO) 3,380.00p -5.06%
Digital 9 Infrastructure NPV (DGI9) 48.55p -3.86%
Me Group International (MEGP) 138.20p -3.36%
Abrdn Private Equity Opportunities Trust (APEO) 437.50p -2.02%
Bakkavor Group (BAKK) 86.00p -1.60%
Ithaca Energy (ITH) 157.50p -0.82%
North Atlantic Smaller Companies Inv Trust (NAS) 3,720.00p -0.80%
Octopus Renewables Infrastructure Trust (ORIT) 89.70p -0.77%
NB Private Equity Partners Ltd. (NBPE) 1,510.00p -0.66%