FTSE 250 movers: Howden heads higher on update; Playtech pummeled on warning
London's FTSE 250 was up 0.2% to 20,370.70 in afternoon trade on Thursday as investors digested a widely-expected rate hike by the Federal Reserve - the first in a decade.
Howden Joinery was the standout gainer as it said trading was good, as the kitchen supplier defied concerns about the UK property market. Reporting on the period mid-June to the end of October, Howden said revenue rose 8.2% from a year earlier, reflecting higher sales. The company also said it was on track to meet the board's expectations for the year.
Ladbrokes Coral ripped higher following news that online gambling company GVC Holdings has sold its Turkish business, in a deal that could clear the path for a takeover.
Intu Properties was on the front foot after saying it expects another year of rental income growth after a solid third quarter, although some analysts were concerned about the potential industry "shockwaves" for the shopping centre developer by the impending discounted stake sale at a rival.
The group agreed 73 leases between 1 July and 2 November for £13m of annual rent, which is up 5% above previous passing rent, though down from the 7% growth in the first half of the year.
On the downside, Electra Private Equity, Dunelm and Ashmore were weaker as they went ex-dividend, while Playtech tanked after saying its performance for the full year will be around 5% below the bottom end of market expectations due to a slowdown in Asia and challenges with its Sun Bingo contract.
Acacia Mining lost its shine as chief executive Brad Gordon and chief financial officer Andrew Wray both jumped ship just days after the miner's parent company caved in to the Tanzanian government in the midst of a months-long dispute over gold exports.
Lender CYBG was under the cosh after saying it will recognise a £39m pre-tax charge in its full-year income statement as it increases its provisions for legacy conducts costs by £403m.
Centamin retreated despite reporting record gold production of 156,533 ounces for its third quarter, which was a 26% increase on the second quarter and 5% higher than the same period last year.
Risers
Howden Joinery Group (HWDN) 450.50p 9.21%
Ladbrokes Coral Group (LCL) 132.90p 4.64%
Intu Properties (INTU) 221.80p 4.41%
Tullow Oil (TLW) 191.90p 3.28%
IMI (IMI) 1,275.00p 3.07%
Kier Group (KIE) 1,086.00p 2.94%
Pets at Home Group (PETS) 181.40p 2.60%
Royal Mail (RMG) 378.90p 2.57%
Investec (INVP) 532.00p 2.11%
Petrofac Ltd. (PFC) 431.20p 2.08%
Fallers
Electra Private Equity (ELTA) 975.50p -47.75%
Playtech (PTEC) 762.00p -22.35%
Acacia Mining (ACA) 174.40p -4.29%
CYBG (CYBG) 303.10p -4.02%
Softcat (SCT) 526.00p -3.49%
Paragon Banking Group (PAG) 463.10p -3.14%
Ashmore Group (ASHM) 376.00p -3.09%
Dunelm Group (DNLM) 696.00p -3.06%
Centamin (DI) (CEY) 139.00p -2.66%
Redrow (RDW) 648.50p -2.26%