FTSE 250 movers: Real estate stocks up on Tritax Eurobox M&A activity

2nd Jul 2024 15:18

(Sharecast News) - The FTSE 250 was keeping its head above water on Tuesday despite a wider sell-off across European stock markets with some big names in the real estate and investment sectors were lifted by M&A activity involving Tritax Eurobox.

The company announced last on Monday that, following a series of indicative takeover proposals by Brookfield Asset Management over the past month, it has also "received and/or solicited expressions of interest" from a number of other parties.

Tritax Eurobox said it had extended Brookfield's so-called 'put up or shut up' offer deadline by another four weeks after the previous deadline expired.

Other REITs were also in demand, such as Tritax Big Box REIT (also owned by Tritax Group), Renewables Infrastructure Group and 3i Infrastructure.

The wider FTSE 250-listed investment sector was also doing well, such as Bridgepoint and Foresight Group, along with building and industrial names like Marshalls, RS Group and Ibstock.

Pennon was leading the fallers after Manchester Ship Canal won an appeal allowing it to sue fellow water firm United Utilities over untreated sewage discharges into waterways.

Budget airline Wizz Air was also flying lower after saying that June's capacity numbers were held back by the ongoing impact of groundings of Pratt & Whitney GTF engines, while CO2 emissions increased as it was forced to use older planes.

FTSE 250 - Risers

Tritax Eurobox (GBP) (EBOX) 66.00p 4.43%

Ibstock (IBST) 160.20p 3.62%

Bridgepoint Group (Reg S) (BPT) 222.40p 3.54%

Foresight Group Holdings Limited NPV (FSG) 494.00p 3.35%

Victrex plc (VCT) 1,154.00p 2.85%

OSB Group (OSB) 443.40p 2.78%

RS Group (RS1) 706.00p 2.77%

Ascential (ASCL) 353.45p 2.45%

PureTech Health (PRTC) 186.60p 2.19%

Marshalls (MSLH) 294.00p 1.91%

FTSE 250 - Fallers

Pennon Group (PNN) 561.00p -4.02%

Quilter (QLT) 113.90p -3.56%

Lancashire Holdings Limited (LRE) 581.00p -3.33%

CMC Markets (CMCX) 330.00p -2.80%

Bakkavor Group (BAKK) 138.00p -2.47%

Wizz Air Holdings (WIZZ) 2,098.00p -2.42%

Moonpig Group (MOON) 182.00p -2.36%

Hiscox Limited (DI) (HSX) 1,108.00p -2.29%

Pets at Home Group (PETS) 292.60p -2.27%

Morgan Advanced Materials (MGAM) 305.00p -2.24%