LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 was up 0.09% at 19,427.96 in afternoon trade on Tuesday, as shares of Synthomer pressed higher a day after its full-year results.
The chemicals company had reported a 9.4% improvement in its full-year revenue to £1.6bn, with underlying profit before tax rising 3.9% to a record £135.1m.

A note from Berenberg analysts said: "Synthomer trades near three-year low P/Es at 10x 2019 levels. The difficulty in the Synthomer Buy case over the past few years has been the historical valuation premium raising the question of whether M&A potential has been priced. The issue is now moot. Shares now trade at a more than 25% discount to five-year averages of 14.3x, and one would need to go back to the pre-2013 days of Yule Catto to see them trade much lower on a consistent basis."

Brick manufacturer Ibstock was higher as it sounded an upbeat note on the outlook and reported a 19% increase in full-year pre-tax profit, while animal genetics specialist Genus was boosted by an upgrade to 'buy' at Liberum.

"The global hog industry will need to lift production to meet Chinese import demand and this will be followed by a rebuilding and modernisation of the Chinese industry. On top of this, Genus is gaining share in porcine globally; bovine profitability is being transformed; and gene editing research is making good progress," said a note from the broker.

Meanwhile, John Laing Group also climbed after it announced decent growth in its net asset value in its audited results for the year ended 31 December on Tuesday, with the figure per share rising to 323p at year-end, from 281p a year earlier.

Life and pensions consolidation company Phoenix Group was on the up after it announced a "strong" set of results for the year ended 31 December on Tuesday, with cash generation rising to £664m from £653m year-on-year.

BBA Aviation headed the fallers despite its full-year revenues coming in slightly ahead of consensus expectations, while specialty chemicals firm Elementis dropped as it posted a jump in annual revenues on Tuesday, but conceded that market conditions remained challenging.

Ted Baker retreated as Stifel cut its stance on the stock to 'sell' from 'hold' a day after the retailer said chief executive Ray Kelvin had resigned following last year's "forced hugging" scandal.

Market Movers

FTSE 250 (MCX) 19,427.96 0.09%


FTSE 250 - Risers

Synthomer (SYNT) 381.60p 4.55%
Ibstock (IBST) 259.80p 3.34%
Genus (GNS) 2,254.00p 3.11%
John Laing Group (JLG) 388.80p 2.80%
CLS Holdings (CLI) 252.00p 2.65%
Phoenix Group Holdings (PHNX) 725.10p 2.63%
JPMorgan Indian Investment Trust (JII) 661.00p 2.48%
IMI (IMI) 982.00p 2.29%
Man Group (EMG) 140.80p 2.29%
Vivo Energy (VVO) 132.18p 2.27%

FTSE 250 - Fallers

BBA Aviation (BBA) 237.00p -6.69%
Amigo Holdings (AMGO) 215.50p -5.07%
William Hill (WMH) 171.90p -4.07%
Elementis (ELM) 170.10p -3.90%
Royal Mail (RMG) 269.55p -3.14%
Ted Baker (TED) 1,922.00p -3.03%
Indivior (INDV) 107.50p -2.98%
Syncona Limited NPV (SYNC) 285.50p -2.89%
Just Group (JUST) 105.20p -2.59%
Metro Bank (MTRO) 945.35p -2.14%

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