FTSE 250 movers: Ferrexpo rallies on results; SSP slumps

London’s FTSE 250 was down 0.9% at 21,579.87 in afternoon trade on Wednesday.

Ferrexpo was the top performer as it declared a special dividend and posted a rise in full-year earnings.

Serco pushed higher after being awarded a £400m contract to continue providing support services at the 5 Wing Canadian Forces Base in Goose Bay, Canada.

Shopping centre owner Hammerson slumped, having risen sharply a day earlier after saying it was looking to convert a former flagship Debenhams in Leicester into housing.

Upper Crust and Ritazza owner SSP slid after saying it was looking to raise £475m via a rights issue as it anticipated slower recovery from the impact of the pandemic on the travel industry.

Russ Mould, investment director at AJ Bell, noted this is the third time since the start of the pandemic that SSP is asking investors for more cash, "showing just how brutal the crisis has been for some companies".

Trainline was knocked lower by a downgrade to ‘hold’ at Panmure Gordon.

TI Fluid Systems was under the cosh as Deutsche Bank downgraded the stock to ‘hold’ from ‘buy’ on valuation grounds, noting its strong run into 2021 and the fact the shares have outperformed its unchanged target price of 280p.

FTSE 250 - Risers

Ferrexpo (FXPO) 365.00p 2.76%
Herald Investment Trust (HRI) 2,160.00p 2.13%
Helios Towers (HTWS) 156.00p 2.09%
Kaz Minerals (KAZ) 854.80p 1.81%
AJ Bell (AJB) 426.50p 1.79%
Serco Group (SRP) 139.80p 1.75%
Airtel Africa (AAF) 83.60p 1.70%
Grafton Group Ut (CDI) (GFTU) 1,026.00p 1.58%
HICL Infrastructure (HICL) 168.60p 1.57%
Future (FUTR) 1,836.00p 1.55%

FTSE 250 - Fallers

Hammerson (HMSO) 38.42p -7.87%
Tullow Oil (TLW) 55.40p -6.80%
Computacenter (CCC) 2,204.00p -5.89%
SSP Group (SSPG) 325.80p -5.78%
Trainline (TRN) 473.00p -5.78%
Just Group (JUST) 94.65p -5.26%
Polypipe Group (PLP) 546.00p -4.88%
Greggs (GRG) 2,174.00p -4.57%
TI Fluid Systems (TIFS) 271.25p -4.20%
Petrofac Ltd. (PFC) 95.38p -3.38%