Source: Sharecast
Bodycote surged as it confirmed it has received a conditional takeover proposal from private equity firm Apollo Management.
The offer comprises 885p per share in cash and the proposed final dividend of 16.1p per share for the 2025 financial year.
Bodycote, which provides thermal processing services, said the latest proposal follows a number of previous approaches from Apollo about a possible offer.
"The board of Bodycote and Apollo are in discussions regarding the proposal," the company said in a brief statement. It added that there can be no certainty that any offer will be made, nor as to the final terms on which any offer might be made.
Ceres Power surged after UBS hiked its price target on the stock to 970p from 570p, pointing to stronger royalties from manufacturing partners into 2030.
Softcat rallied as it lifted its full-year profit outlook, saying it continued to perform well in the third quarter, delivering strong double-digit year-on-year growth in gross profit and underlying operating profit.
Shares in Genuit fell as the pipe maker said it expected annual operating profit to be at the lower end of estimates after revenues fell in the first four months of the year amid tough markets and uncertainty due to the Iran war.
The company forecast flat underlying operating profit for the first half of 2026 - against 2025’s £44.6m – and targeted £4m - £5m of annualised cost savings.
Full-year underlying operating profit would be towards the lower end of current analyst estimates, “assuming a timely resolution of the Middle East conflict and stabilisation in the macroeconomic environment”.
Market Movers
FTSE 250 - Risers
Ceres Power Holdings (CWR) 786.00p 19.77%
Bodycote (BOY) 813.00p 17.11%
Softcat (SCT) 1,633.00p 12.97%
Raspberry PI Holdings (RPI) 733.25p 8.66%
Oxford Instruments (OXIG) 3,138.00p 5.94%
Kainos Group (KNOS) 886.00p 4.20%
Applied Nutrition (APN) 224.75p 4.05%
Bytes Technology Group (BYIT) 360.20p 4.05%
Zigup (ZIG) 449.50p 3.34%
Dr. Martens (DOCS) 69.60p 3.24%
FTSE 250 - Fallers
Ithaca Energy (ITH) 245.10p -4.18%
Diversified Energy Company (DI) (DEC) 1,158.00p -3.67%
Patria Private Equity Trust (PPET) 604.00p -2.58%
Baltic Classifieds Group (BCG) 185.20p -2.22%
Investec (INVP) 627.50p -2.03%
Bluefield Solar Income Fund Limited (BSIF) 79.30p -1.98%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 449.50p -1.96%
Hochschild Mining (HOC) 574.00p -1.96%
Ibstock (IBST) 98.10p -1.95%
Mitchells & Butlers (MAB) 230.50p -1.91%