Bodycote boosted by trading update

FTSE 250 heat treatment specialist Bodycote (LON:BOY) saw its share price rise by 8.39% to 640p (as of 15:35 BST) despite reporting a 12% drop in revenues for the first four months of 2020. April revenues were 30% lower than a year earlier at constant currency and management said that restructuring efforts were underway to reduce full-time headcount by 700 as well as making infrastructure savings across the firm.

The company believes that the steps it is taking are will allow them to operate profitably through the crisis and proceed strongly as markets recover.