FTSE 250 movers: Quilter surges, but Ascential slumps

(Sharecast News) - The FTSE 250 (MCX) was down 0.64% at 20,036.58 at 1500 BST. Shares in Quilter jumped on Monday after reports that NatWest is in the early stages of studying a bid for the wealth management firm.

A takeover would be the biggest for the British lender since the bank went into taxpayer ownership at the height of the 2008 banking scandal with a £46bn bailout.

Private equity firms including CVC, Bain Capital and BC Partners have also reportedly expressed interest in the FTSE250 group. Quilter, with a value of £1.4billion, is said to be one of many wealth management firms that lack scale and investment to compete with larger players and banks, the Mail on Sunday newspaper reported.

Its shares are down a third this year to their lowest since it went public in 2018 following the break-up of its parent, financial services firm Old Mutual.

Quilter is on NatWest's list of potential targets as it looks to grow its wealth management business. It already owns Coutts whose clients include the Queen, members of the aristocracy and wealthy City professionals.

In June, chief executive Alison Rose said NatWest had "significant excess capital" and would consider an M&A that can drive "compelling shareholder value".

Fell wealth manager Rathbones was also up on the news.

Shares in RHI Magnesita fell despite the company reporting a 33% improvement in first-half revenue on Monday, to €1.59bn (£1.33bn), and by 25% in constant currency terms.

The FTSE 250 company said adjusted EBITA increased 47% year-on-year for the six months ended 30 June to €188m, or by 38% at constant exchange rates.

XP Power was down almost 15% after revealing that lower production volumes and inflation had crimped revenue growth for the half-year.

Information, analytics and e-commerce services company Ascential fell heavily after it reported first-half results in line with market expectations on Monday, with revenue rising to £260.7m from £154.3m, although its reported losses widened.

FTSE 250 - Risers

Quilter (QLT) 119.10p 13.43% Rathbones Group (RAT) 1,888.00p 4.31% Aston Martin Lagonda Global Holdings (AML) 496.70p 3.83% Jupiter Fund Management (JUP) 129.60p 3.35% Mitchells & Butlers (MAB) 177.80p 2.60% Polymetal International (POLY) 200.00p 2.56% QinetiQ Group (QQ.) 390.40p 2.52% Shaftesbury (SHB) 514.00p 2.39% Bank of Georgia Group (BGEO) 1,538.00p 2.12% Greencoat UK Wind (UKW) 156.80p 1.82%

FTSE 250 - Fallers

Ascential (ASCL) 248.20p -15.00% XP Power Ltd. (DI) (XPP) 2,585.00p -14.97% Spectris (SXS) 2,866.00p -7.82% RHI Magnesita N.V. (DI) (RHIM) 2,098.00p -6.84% Carnival (CCL) 624.80p -4.64% Vesuvius (VSVS) 344.60p -4.22% Chrysalis Investments Limited NPV (CHRY) 100.80p -4.18% Syncona Limited NPV (SYNC) 198.00p -3.88% Baltic Classifieds Group (BCG) 157.80p -3.78% ICG Enterprise Trust (ICGT) 1,122.00p -3.77%