FTSE 250 movers: Hochschild shines; Greggs under pressure

The FTSE 250 was down 1.1% at 17,184.00 in afternoon trade on Tuesday.

Gold miner Hochschild was higher as gold prices rose.

High Street baker Greggs slumped as it warned of job cuts and reduced hours for staff in the face of expected lower demand despite better trading in September after a slow August.

The company said like-for-like sales in company-managed shops averaged 76.1% of 2019 levels in the four weeks to September 26 - in line with planning assumptions. Sales were 71.2% of the 2019 level in the 12 weeks to the same date.

Greggs, famous for its sausage rolls, said it would look to minimise the risk of job losses by negotiating reduced hours, adding that a consultation with unions had started.

It warned that the outlook for trading remained uncertain, with rising Covid-19 infection rates leading to increasing risks of supply chain interruption and further restrictions on customer activities out of the home.

Travel and hospitality-related stocks were also weaker amid ongoing worries about the pandemic and its impact, with Upper Crust owner SSP, Cineworld, Mitchells & Butlers and Wetherspoons all down. The pub chains have taken another hit since the implementation of a 10pm curfew last week.

FTSE 250 - Risers

Hochschild Mining (HOC) 218.00p 3.42%
Mediclinic International (MDC) 274.40p 3.00%
Pets at Home Group (PETS) 407.40p 2.93%
Fisher (James) & Sons (FSJ) 1,136.00p 2.16%
Capita (CPI) 30.44p 2.15%
Ninety One (N91) 203.40p 2.01%
Airtel Africa (AAF) 61.10p 2.00%
Renishaw (RSW) 5,540.00p 1.93%
Cranswick (CWK) 3,664.00p 1.89%
888 Holdings (888) 208.00p 1.46%

FTSE 250 - Fallers

SSP Group (SSPG) 187.60p -8.49%
Cineworld Group (CINE) 40.63p -7.24%
Greggs (GRG) 1,134.00p -6.97%
Shaftesbury (SHB) 481.80p -6.36%
Vectura Group (VEC) 104.40p -5.78%
OneSavings Bank (OSB) 270.20p -5.59%
Rank Group (RNK) 96.70p -5.20%
Wetherspoon (J.D.) (JDW) 834.50p -4.85%
Mitchells & Butlers (MAB) 134.40p -4.41%
Polypipe Group (PLP) 429.00p -4.03%