FTSE 250 round-up: Alpha Group, Hochschild Mining, ASOS, Breedon

There have been some ups and downs this session, but extra positive drivers have sent the mid-cap index to a multi-year high.

23rd July 2025 15:46

by Graeme Evans from interactive investor

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An ASOS logo seen displayed on a smartphone, Getty

More takeover action alongside strong sessions for Hochschild Mining (LSE:HOC), ASOS (LSE:ASC) and Aston Martin Lagonda Global Holdings Ordinary Shares (LSE:AML) today helped the FTSE 250 index top 22,000 for the first time since 2022.

Alpha Group International (LSE:ALPH) led the mid-cap index after the fintech’s board said it backed a bid worth £1.8 billion from the American payments company Corpay Inc (NYSE:CPAY).

Alpha, which started from an office in Berkshire 16 years ago, provides clients with technology and consultancy services for their FX risk management and other banking operations.

In keeping with other recent deals in the FTSE 250, the bid of 4,250p a share represents a 55% premium to Alpha’s share price prior to the disclosure of takeover interest on 2 May.

It also implies a 45% compound annual growth rate since Alpha’s AIM stock market flotation in April 2017 at 196p a share.

Led by founder Morgan Tillbrook until the end of last year, the group boasts a consistent record of annual double-digit revenue growth.

Tillbrook’s successor Clive Kahn said: “The offer from Corpay is a strong endorsement of the Alpha management team's achievements.

“It provides shareholders with an attractive return, and it gives the business an opportunity to maintain and extend its growth record as part of a larger group that respects and shares its values.”

Tillbrook owns a 12% stake and has given an undertaking to support the Corpay deal.

An absence of stock market news failed to prevent FTSE 250 strugglers ASOS and Aston Martin Lagonda shares from accelerating to near the top of the mid-cap index.

The online fashion business rose 36.5p to its highest level since February at 369.5p, while a boost to car industry confidence after President Donald Trump agreed a trade deal with Japan is likely to have benefited the luxury vehicle maker following a rise of 6.3p to 81.2p.

The shares reached an all-time low near 60p at the height of tariff turmoil on 9 April.

Hochschild Mining rallied 21.2p to 290.2p after its second-quarter production report included an update on the new Mara Rosa mine in Brazil, which has been affected by heavier-than-usual seasonal rainfall as well as contractor performance issues.

Having assumed temporary operational responsibilities, chief executive Eduardo Landin has launched a comprehensive review of all mining, processing and disposal activities.

As part of this, a temporary suspension of the processing plant started on 23 June in order to carry out maintenance activities and mechanical filter repairs, but with mining operations continuing as planned.

A full update on progress and revised guidance is expected at half-year results in late August.

Until April’s disclosure of the Mara Rosa issues, Hochschild was among the year’s best performers in the FTSE 250 as shares benefited from a series of gold price records.

Peel Hunt said the second-quarter performance was in line with expectations, adding that August's results were a potential catalyst that could drive outperformance relative to peers.

The shares of construction materials business Breedon Group (LSE:BREE) were the worst-performing in the FTSE 250 after it said that full-year results will be at the low end of current market forecasts.

Like-for-like sales fell 3% in the first half due to a combination of challenging markets in Britain, major project delays in Ireland and adverse US weather conditions.

Chief executive Rob Wood said it had been a challenging first part of the year but that the group was well-placed ahead of an upturn in construction activity. A 6% increase in the interim dividend to 4.75p backed up his optimism in medium-term prospects.

Shares fell 32.8p to a one-year low of 354.8p, which compared with Peel Hunt’s unchanged price target of 565p. The broker said: “It’s not surprising to see some downward pressure on short-term forecasts, but the business remains in good shape. We think the drop in the share price year-to-date provides an attractive medium-term buying opportunity.”

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.

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