FTSE 250 movers: PageGroup gains again; Greggs in the red

dl greggs bakery shop sign — GreggsSharecast photo / Josh White

London’s FTSE 250 was 1.3% lower at 17,746.11 in afternoon trade on Tuesday.

PageGroup was on the rise again, having been boosted on Monday by an upgrade to ‘hold’ from ‘underperform’ at Jefferies.

RHI Magnesita gained after announcing the acquisition of P-D Refractories for around €45m.

P-D Refractories is a producer of high-quality alumina-based refractories for industrial applications in process industries, with a leading market position in the glass and aluminium sectors, RHI said.

Previously part of the Preiss-Daimler Group, the assets bought include refractory plants in Germany and Czech Republic and clay, quartzite and silica raw material sites in Czech Republic and Slovenia.

On the downside, high street bakery chain Greggs fell despite saying it expects to hit targets this year after a solid third quarter.

Victoria Scholar, head of investment at Interactive Investor, said: "The CEO Roisin Currie told Reuters the company is not planning to increase prices pre-Christmas and there is still significant inflation in the market, such as staff wages. The comments appear to be weighing on its share price."

FTSE 250 - Risers

Apax Global Alpha Limited (APAX) 166.60p 2.21%
North Atlantic Smaller Companies Inv Trust (NAS) 3,490.00p 2.05%
ICG Enterprise Trust (ICGT) 1,216.00p 2.01%
Kainos Group (KNOS) 1,132.00p 1.62%
Pagegroup (PAGE) 427.00p 1.33%
HGCapital Trust (HGT) 380.00p 1.20%
Syncona Limited NPV (SYNC) 120.40p 1.18%
RHI Magnesita N.V. (DI) (RHIM) 2,790.00p 1.16%
Man Group (EMG) 225.40p 1.12%
Hays (HAS) 109.40p 1.11%