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(Sharecast News) - London's second-tier was 1.09% higher at 20,436.50 in afternoon trade on Thursday, with IMI leading the index lower.
The engineering firm was in the green after stating that its full-year results were on course to meet expectations thanks to improving margins, amid efforts to implement cost-cutting measures.
Analysts from Peel Hunt said the stock would be "substantially rerated" if further money saving measures, which include a £75.0m restructuring plan, were successful
Shares of John Wood Group followed close behind after it confirmed that its full-year underlying earnings outlook remained broadly in line with consensus, despite the impact of a slowing macro environment.
Tbilisi-based Bank of Georgia jumped after it reported a jump in third quarter profits, while income increased as the company invested in digital development.
Insurer Lancashire Holdings climbed reporting a 14% rise in gross premiums for the first nine months of the year, while Marks & Spencer was boosted by an upgrade to 'hold' at Societe Generale.
Stock in Tate & Lyle advanced as it posted a 45% jump in first-half profit as revenue ticked higher, with the food and beverage solutions division putting in a solid performance.
Down at the other end of the index, Senior suffered heavy losses after it announced a restructuring programme and said revenue in the aerospace division had been lower than expected over the last four months.
Card Factory was on the way downward after its stock went ex-dividend, while Beazley fell ahead of the release of a trading statement on Friday.
Finally, Galliford Try dropped after it agreed to sell its housing business to Bovis Homes for just under £1.1bn.
Market Movers
FTSE 250 (MCX) 20,436.50 1.09%
FTSE 250 - Risers
IMI (IMI) 1,156.00p 8.90%
Wood Group (John) (WG.) 385.60p 8.59%
Bank of Georgia Group (BGEO) 1,464.00p 8.28%
Lancashire Holdings Limited (LRE) 721.00p 7.05%
Marks & Spencer Group (MKS) 193.97p 6.58%
Kainos Group (KNOS) 529.58p 5.92%
Bodycote (BOY) 813.39p 5.29%
Ferrexpo (FXPO) 137.70p 5.07%
Tate & Lyle (TATE) 697.20p 5.03%
IP Group (IPO) 59.60p 4.93%
FTSE 250 - Fallers
Senior (SNR) 176.80p -5.86%
Card Factory (CARD) 166.20p -4.48%
Beazley (BEZ) 536.00p -3.51%
Galliford Try (GFRD) 718.85p -3.12%
Schroder Oriental Income Fund Ltd. (SOI) 259.50p -1.70%
Watches of Switzerland Group (WOSG) 294.00p -1.18%
Contour Global (GLO) 215.50p -1.15%
Greencoat UK Wind (UKW) 146.50p -1.01%
Plus500 Ltd (DI) (PLUS) 788.00p -1.01%
Britvic (BVIC) 955.50p -0.93%
2 Jun 2023 11:07
IN BRIEF: Marks & Spencers tenders GBP228.1 million loan notes
Marks & Spencers PLC - London-based food, clothing, home and bank services retailer - Says it has tendered GBP107.2 million of GBP300.0 million 3.750% notes that are due in 2026, and that it has tendered GBP120.9 million of GBP324.6 million 4.750% notes due in 2025. This follows the invitation made to holders of outstanding notes to tender their notes for purchase by the company for cash in an aggregate nominal amount of up to the 2025 notes and 2026 notes maximum acceptance amount. The offers were announced in May 2023, and were made on terms and subject to conditions contained in the tender offer memorandum. The company also announces that the 2025 and 2026 notes final acceptance amount is expected to be set at GBP219.4 million in aggregate nominal amounts of notes.
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