Rocketing Babcock pushes up the FTSE 250
Shares in Revolution Bars climbed by 5.3% The smaller of London’s two biggest indexes managed to outperform its larger rival as shares in Babcock surged on Tuesday. The FTSE 250 ended the day up 0.5% while the FTSE 100 was practically flat, ending up just 1.37 points to 6,890.49. The difference between the two was in no small part because of Babcock. The defence contractor surprised investors with the announcement that it would slash around 1,000 jobs as it revealed write-downs £1.7 billion. But investors rewarded the move with a 32% share price increase when markets closed on Tues...