FTSE 250 movers: Crest Nicholson gets a boost from construction data

FTSE 250 (MCX) 20,910.94 0.82%

House builder Crest Nicholson got a boost and led the FTSE 250 risers after a survey showed construction grew in September at its fastest pace in two-and-a-half years.

The headline S&P Global construction purchasing managers’ index rose to 57.2 in September from 53.6 in August. It remained above the 50.0 mark that separates contraction from expansion for the seventh month and signalled the steepest rate of growth for 29 months.

Tim Moore, economics director at S&P Global Market Intelligence, said: "UK construction companies indicated a decisive improvement in output growth momentum during September, driven by faster upturns across all three major categories of activity.

"A combination of lower interest rates, domestic economic stability and strong pipelines of infrastructure work have helped to boost order books in recent months.

Watches of Switzerland said it had bought Hodinkee, a specialist website for luxury watch enthusiasts, for an undisclosed sum.

The company on Friday said the deal was part of its plan to leverage growth opportunities and grab market share, “particularly in the fast growing US market”.

Headquartered in New York and founded in 2008, Hodinkee offers digital print and video content, limited edition watch collaborations alongside watch and jewellery insurance services. It has an audience of 22.2 million annual unique visitors to its website with more than one million social media followers, WoS said.

On completion of the deal, WoS will integrate Hodinkee's existing commercial activities, including its limited edition collaborations, with all retail traffic directed to Watches of Switzerland's US e-commerce site.

“This will give the group access to a captive and highly engaged luxury watch audience. The group will also integrate the functions behind Hodinkee's insurance agency business, which partners with global insurance provider Chubb, offering protection for luxury watches and jewellery,” the company said.

Market Movers

FTSE 250 - Risers

Crest Nicholson Holdings (CRST) 198.40p 5.36%
Watches of Switzerland Group (WOSG) 480.80p 5.35%
Aston Martin Lagonda Global Holdings (AML) 109.30p 4.19%
Raspberry PI Holdings (RPI) 359.10p 4.09%
Moonpig Group (MOON) 215.50p 3.86%
Bank of Georgia Group (BGEO) 3,785.00p 3.56%
Ibstock (IBST) 184.60p 3.36%
Fidelity China Special Situations (FCSS) 242.50p 3.19%
4Imprint Group (FOUR) 5,190.00p 3.18%
Abrdn (ABDN) 159.45p 3.17%