FTSE 250 movers: Bodycote in favour on buyback plan

(Sharecast News) - FTSE 250: 19,025.60, +0.82% Thermal processing specialist Bodycote said it would start a $60m share buyback programme after spending less than planned on acquisitions.

The programme is expected to commence on March 18, with full details published on March 15 at the time of Bodycote's full year 2023 results.

It also said it had completed the acquisition of US firm Lake City HT on 19 January 2024 for $66.5m (£52m) on a cash and debt free basis.

Based in Warsaw, Indiana, Lake City is a hot isostatic pressing (HIP) and vacuum heat treatment business primarily supplying the orthopaedic implant market as well as civil aerospace which would "significantly increase" Bodycote's customer reach in the medical market.

Market Movers

FTSE 250 - Risers

Bodycote (BOY) 636.00p 6.71% Trustpilot Group (TRST) 172.40p 4.93% Babcock International Group (BAB) 444.60p 3.40% OSB Group (OSB) 417.40p 3.37% Wood Group (John) (WG.) 174.20p 3.32% Pennon Group (PNN) 715.50p 3.25% Spirent Communications (SPT) 124.00p 3.16% Grafton Group Ut (CDI) (GFTU) 944.60p 3.08% Mobico Group (MCG) 85.95p 3.00% Ferrexpo (FXPO) 83.10p 2.91%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 1,805.50p -4.01% Fidelity China Special Situations (FCSS) 185.80p -2.52% Aston Martin Lagonda Global Holdings (AML) 186.90p -1.79% Sequoia Economic Infrastructure Income Fund Limited (SEQI) 82.70p -1.55% Tullow Oil (TLW) 30.06p -1.44% Centamin (DI) (CEY) 92.20p -1.23% Johnson Matthey (JMAT) 1,559.50p -1.14% Harbour Energy (HBR) 284.50p -1.01% Templeton Emerging Markets Inv Trust (TEM) 142.20p -0.97% NB Private Equity Partners Ltd. (NBPE) 1,600.00p -0.87%