MARKET REPORT: Strong market debut for Liverpool protein agency backed by the Rooneys

Windfall: Applied Nutrition founder Thomas Ryder

Shares in protein drink maker set up by a Liverpool scaffolder and backed by Wayne and Coleen Rooney jumped on their stock market debut yesterday. 

In a big boost for the City after a dearth of listings, Applied Nutrition was floated in London with its shares priced at 140p each, giving it a value of £350m. 

The stock jumped 7pc in early trading to 150p, valuing the firm at £375m, before ending the day at 143.5p. 

Founder Thomas Ryder, who grew up on a council estate and left school at 16, sold £68.25m of shares in the float and retains a 34pc stake worth £122m last night. 

The so-called initial public offering (IPO) was one of London’s biggest this year and was a boost amid a shortage of such listings. 

Raspberry Pi shares have risen 28pc to 359p since the computer maker was floated in June, but few other IPOs have captured the imagination. 

There are hopes that the tide is turning, however. French media giant Canal+ – maker of the Paddington Bear films – is seeking a £6.7bn valuation when it lists in London later this year. 

Chinese fast-fashion giant Shein is also considering a British IPO valuing it at £50bn. 

Applied Nutrition, chaired by AJ Bell founder Andy Bell, drew big-name investors including ex-Asda boss Mohsin Issa, construction entrepreneur William Ainscough, Home Bargains billionaire Tom Morris and Liverpool property magnate George Downing, as well as the Rooneys. 

The FTSE 100 rose 0.13pc, or 10.7, to close at 8,269 after four days of losses. The FTSE 250 fell 0.19pc, or 39.4, to 20,791 as investors digested corporate updates. 

Wayne and Coleen Rooney are among the firm’s backers 

Shares in London Stock Exchange Group rose 2.6pc, or 270p, to a record 10,655p after it posted a better-than-expected 9.5pc rise in third quarter income to £2.12bn. 

Another riser was Anglo American – up 2.9pc, or 67p, to 2390.5p – as the mining giant stuck to its production estimates for copper and iron ore even as it cut its production forecast for the De Beers diamond arm it plans to spin off. 

Data and events group Relx rose 1pc, or 35p, to 3624p after pledging to grow sales and profit this year. Despite ‘volatile trading’ homeware store Dunelm posted a 3.5pc rise in first quarter sales to £403m. Shares rose 0.5pc, or 6p, to 1199p.

Estate agent Foxtons hailed a rebound in housing market activity as it reported a 10pc rise in revenues to £125.9m so far this year. 

Shares rose 3.4pc, or 2p, to 61.6p. Bunzl slipped 1.3pc, or 46p, to 3500p despite its latest update – showing a 5.4pc rise in third quarter sales – was not enough to help it build on recent gains. 

Shares in the firm, which supplies products such as loo roll, disposable cups and hard hats, have risen 175pc in value since their Covid-19 low. 

Stock in software firm Softcat jumped 10pc, or 154p, to 1686p after it posted a 9.3pc rise in annual profits to £154.1m. 

Birkin bag-maker Hermes saw an 11pc rise in third quarter sales to £3.1bn, boosting its shares by 1.1pc, or €22, to €2083. Despite rival luxury group and Gucci owner Kering warning of its lowest annual profits in eight years, its shares rose 2pc or €4.7 to €235.6. 

Travis Perkins, Britain’s largest building material supplier, lowered its annual profit outlook for the second time in three months – sending shares down 4.6pc or 42p to 880p. 

The FTSE 250 firm said sales fell 5.7pc in the third quarter. It now expects full-year profit of £135m, not £150m as in August. 

New boss Pete Redfern, formerly of builder Taylor Wimpey, said: ‘The group has allowed itself to become distracted and overly internally focused.