FTSE 250 movers: Mitie and Crest Nicholson swim against the tide

Selling in the specialist fund manager was triggered by its confirmation on Tuesday that it was in discussions regarding a proposed acquisition of Zurich-based asset manager GAM.

Heading in the other direction, Mitie paced gains after saying that it expected operating profit to beat guidance after replacing all its Covid-related contract revenue.

The outsourcer also announced a £50m share buyback.

Crest Nicholson shares were right behind with investors shrugging of a research note from J.P.Morgan.

The broker said that it saw the most downside on 2023 for the housebuilder in comparison to its UK peers.

Nevertheless, the analysts bumped up their target price for the shares from 180.0p to 210.0p, while staying at 'underweight'.

FTSE 250 - Risers

Mitie Group (MTO) 92.20p +13.13%

Crest Nicholson Holdings (CRST) 271.00p +8.40%

IntegraFin Holding (IHP) 276.60p +7.79%

WH Smith (SMWH) 1,614.00p +3.46%

OSB Group (OSB) 498.80p +2.89%

Redde Northgate (REDD) 365.00p +2.10%

Bridgepoint Group (Reg S) (BPT) 240.00p +2.04%

Marshalls (MSLH) 332.00p +2.03%

Wizz Air Holdings (WIZZ) 2,817.00p +2.03%

Mitchells & Butlers (MAB) 168.90p +1.99%

FTSE 250 - Fallers

Baltic Classifieds Group (BCG) 159.20p -4.10%

Balanced Commercial Property Trust Limited (BCPT) 88.50p -3.70%

Harbour Energy (HBR) 260.90p -3.51%

4Imprint Group (FOUR) 4,440.00p -3.27%

Hunting (HTG) 244.00p -3.17%

AJ Bell (AJB) 329.20p -3.12%

Liontrust Asset Management (LIO) 935.00p -2.86%

ASOS (ASC) 722.20p -2.62%

Genus (GNS) 2,724.00p -2.51%

Sirius Real Estate Ltd. (SRE) 78.20p -2.43%