FTSE 250 movers: Burberry jumps on M&A buzz, Raspberry Pi drops
Luxury brand Burberry topped the risers list on Monday on the back of takeover rumours, while low-cost single-board computer maker Raspberry Pi was the worst performer, extending recent losses.
Burberry shares were 6% higher on the back of speculation that Italian luxury fashion group Moncler could launch a takeover offer for the British counterpart following a sharp decline in the share price this year.
According to fashion publication Miss Tweed, several industry sources said that Bernard Arnault, chief executive and controlling shareholder of LVMH – which recently invested in Moncler – is "keen" to see such a deal happen.
The speculation comes after a 50%-plus drop in Burberry's share price over the past 12 months.
Also higher were financial stocks Alpha Group International, SEEIT and Abrdn who were among the top performers on the FTSE 250.
Heading the other way was Raspberry Pi, down 4% as it continues its recent downward trajectory. The company, which debuted on the London Stock Exchange in June, has seen its stock drop 22% since its first-half results on 24 September, even though interim profits came in ahead of expectations.
FTSE 250 - Risers
Burberry Group (BRBY) 863.20p 6.31%
Ocado Group (OCDO) 359.60p 2.74%
Alpha Group International (ALPH) 2,235.00p 2.52%
Future (FUTR) 903.00p 2.50%
Trainline (TRN) 397.60p 2.42%
Abrdn (ABDN) 135.25p 2.15%
SDCL Energy Efficiency Income Trust (SEIT) 57.90p 2.12%
PureTech Health (PRTC) 158.60p 2.06%
Dr. Martens (DOCS) 56.90p 1.88%
Hilton Food Group (HFG) 942.00p 1.84%
FTSE 250 - Fallers
Raspberry PI Holdings (RPI) 328.90p -4.39%
Close Brothers Group (CBG) 224.00p -3.45%
Oxford Instruments (OXIG) 2,105.00p -3.00%
Wood Group (John) (WG.) 123.80p -2.52%
Bakkavor Group (BAKK) 144.50p -2.03%
QinetiQ Group (QQ.) 453.80p -1.99%
NB Private Equity Partners Ltd. (NBPE) 1,530.00p -1.92%
Centamin (DI) (CEY) 154.10p -1.78%
Marshalls (MSLH) 337.50p -1.60%
4Imprint Group (FOUR) 5,060.00p -1.56%