FTSE 250 movers: IDS starts to deliver

FTSE 250: 19,748.75, up 0.23% at 1446 GMT.

There was little to drive equities on a data-free day, with Asian markets also closed for the Lunar New Year holiday. On the FTSE 250 stocks were trading slightly higher despite downbeat forecasts for the UK economy out of consultancy EY, thanks to increased speculation of a downshift in the speed of rate hikes in the US.

It was also against the backdrop of the latter that analysts in the City were mulling the outlook for shares on either side of the Pond.

"While there may be some logic in the argument that we may have seen the peaks in US markets, given how they have performed in the last few months, there is less of an argument when you look at markets in Europe, which look set to open higher later this morning," said Michael Hewson, chief market analyst at CMC Markets.

Royal Mail owner International Distribution Services made ground after reporting last week that some international deliveries were resuming after a computer hack.

Infrastructure group Balfour Beatty said it had been awarded a £1.2bn contract by Britain’s National Highways to deliver a package of works for the proposed Lower Thames Crossing. The company said it would be responsible for the design and delivery of more than 10 miles of new highway as part of the project to build a new tunnel under the River Thames aimed at easing traffic congestion in the south of England.

National Express Group said Its German business had won a €1bn contract to operate the RE1 and RE11 Rhein-Ruhr-Express (RRX) train lines to 2033. The company took over the operation of the two lines in February 2022 through an emergency contract award. National Express now operates all three asset light RRX lots under long term contracts, the company said on Monday.

Harbour Energy gained after last week’s announcements of job cuts and higher production numbers.

FTSE 250 - Risers

International Distributions Services (IDS) 231.20p 4.47%
Bridgepoint Group (Reg S) (BPT) 228.00p 4.30%
Harbour Energy (HBR) 323.50p 3.75%
Wizz Air Holdings (WIZZ) 2,846.00p 3.04%
Greencoat UK Wind (UKW) 157.80p 2.80%
Aberforth Smaller Companies Trust (ASL) 1,360.00p 2.41%
NB Private Equity Partners Ltd. (NBPE) 1,635.00p 2.19%
Close Brothers Group (CBG) 957.00p 2.08%
Carnival (CCL) 772.40p 1.98%
IP Group (IPO) 62.20p 1.97%

FTSE 250 - Fallers

ASOS (ASC) 742.00p -4.63%
Chemring Group (CHG) 275.00p -2.83%
Bank of Georgia Group (BGEO) 2,620.00p -2.78%
Drax Group (DRX) 656.00p -2.74%
Balanced Commercial Property Trust Limited (BCPT) 85.50p -2.73%
Clarkson (CKN) 3,075.00p -2.54%
Marks & Spencer Group (MKS) 147.60p -2.25%
Aston Martin Lagonda Global Holdings (AML) 164.30p -2.14%
Pagegroup (PAGE) 449.60p -2.09%
PureTech Health (PRTC) 256.50p -1.72%