FTSE 250 movers: BBA hit by Gama Aviation warning; Hill & Smith rallies

London's FTSE 250 was up 1.5% to 18,620.53 in afternoon trade on Monday as investors eyed Philip Hammond's Budget.

Hill & Smith, which designs, manufactures and supplies products for the construction industry, was a high riser amid expectations that the Chancellor will announce a big boost for the infrastructure sector in his Budget.

On the downside, BBA Aviation was the biggest faller on read-across from aviation services provider Gama Aviation's profit warning. Gama said earlier its full-year underlying profit will be $3m below initial expectations as trading in certain divisions has not improved enough.

Liberum said some aspects of the warning read across negatively to BBA, notably the slower-than-expected growth in Gama's US air unit. It noted that BBA has a joint venture with Gama in this activity, but said the direct profit contribution is modest.

"The more material read-across is the implication of potentially weaker flying activity, which would be adverse for BBA's Signature FBO business," the brokerage said.

Rank Group was also in the red as investors bet that Hammond will announce tax increases on offshore gambling companies.

FTSE 250 - Risers

Superdry (SDRY) 770.50p 8.52%
Energean Oil & Gas (ENOG) 634.00p 7.46%
Hill & Smith Holdings (HILS) 1,015.00p 6.34%
Convatec Group (CTEC) 155.00p 5.51%
Weir Group (WEIR) 1,524.50p 5.36%
Capita (CPI) 126.65p 5.32%
Sophos Group (SOPH) 428.00p 5.26%
Inchcape (INCH) 525.00p 5.21%
Computacenter (CCC) 1,266.20p 4.99%
Vivo Energy (VVO) 119.50p 4.82%

FTSE 250 - Fallers

BBA Aviation (BBA) 234.00p -3.62%
Clarkson (CKN) 2,398.79p -2.88%
Plus500 Ltd (DI) (PLUS) 1,332.00p -2.84%
Ibstock (IBST) 213.40p -2.82%
Rank Group (RNK) 151.40p -2.20%
IntegraFin Holding (IHP) 270.00p -1.82%
Syncona Limited NPV (SYNC) 243.00p -1.82%
Cairn Energy (CNE) 193.50p -1.38%
Sanne Group (SNN) 549.00p -1.08%
Vietnam Enterprise Investments (DI) (VEIL) 428.00p -0.93%