FTSE 250 movers: TalkTalk trots higher on update; Greene King fizzes lower

London's FTSE 250 was up 0.3% to 20,855.46 in afternoon trade on Tuesday.

TalkTalk rang up some solid gains after posting a jump in first-quarter revenue as customer numbers grew and the company said it was on course to add another 150,000 new customers this year.

In the three months to 30 June, revenue rose 4.1% to £382m as the company added 80,000 net broadband customers, taking the total to 4.22m. This was down from the 109,000 it added in the final quarter of the previous year but up from the 20,000 added in the same quarter of last year.

Morgan Advanced Materials rose after JPMorgan Cazenove upped the stock to 'overweight' from 'neutral' and lifted the price target to 390p from 345p.

"After close to three years of management actions without seeing the full benefits, we believe we are at the tipping point and over the next 12-24 months the upside to earnings and to shareholders will become clear," JPM said.

Dairy Crest was on the front foot as it maintained its outlook for the year and said trading in the first quarter has been in line with its expectations.

In an update for the three months to 30 June, the FTSE 250 dairy products company said combined sales revenue of its four key brands - Cathedral City, Clover, Frylight and Country Life - were up 6% on the same period a year ago. Dairy Crest attributed the increase to the ongoing outperformance of the two largest brands, Cathedral City and Clover, which both saw revenues grow 10%.

Stagecoach was also on the up after Citigroup lifted its rating to 'neutral' from 'sell', saying the worst of the negative catalysts are behind the company now.

On the downside, Greene King took a knock as Berenberg reiterated its view that the pub group was an investment "value trap", with underlying trading profit remaining poor and profit "likely to go backwards again" in 2018.

FTSE 250 - Risers

TalkTalk Telecom Group (TALK) 120.50p 9.65%
Daejan Holdings (DJAN) 6,250.00p 7.39%
Morgan Advanced Materials (MGAM) 354.80p 4.41%
Go-Ahead Group (GOG) 1,449.00p 4.39%
Dairy Crest Group (DCG) 488.60p 4.27%
Stagecoach Group (SGC) 159.00p 3.99%
Softcat (SCT) 822.00p 3.40%
Quilter (QLT) 153.86p 3.26%
SSP Group (SSPG) 679.35p 3.23%
Hochschild Mining (HOC) 179.15p 3.08%

FTSE 250 - Fallers

Greene King (GNK) 540.00p -5.00%
Alfa Financial Software Holdings (ALFA) 162.00p -4.71%
Provident Financial (PFG) 629.17p -2.73%
Petrofac Ltd. (PFC) 539.00p -2.07%
Convatec Group (CTEC) 204.00p -2.06%
Wetherspoon (J.D.) (JDW) 1,252.00p -2.03%
JD Sports Fashion (JD.) 451.20p -1.87%
Entertainment One Limited (ETO) 377.00p -1.82%
Wood Group (John) (WG.) 604.00p -1.69%
Elementis (ELM) 256.60p -1.69%