FTSE 250 movers: Indivior given shot in the arm, Softcat clawed
London's FTSE 250 was up 0.76% at 17,548.78 in afternoon trade on Tuesday, as Indivior led the pack after reporting that strong sales have kept it on track with full year expectations.
After being boosted by US courtroom drama last week, Indivior was the top riser after it said it expects to hit its full-year targets, spurred on by higher than expected sales for its new monthly opioid addiction treatment.
Meanwhile, troubled tour operator Thomas Cook enjoyed a rare day in the sun after announcing a partnership with Orascom Development to open two own-brand hotels in El Gouna, Egypt, next year.
IG Group was on the rise after Peel Hunt started coverage with a 'buy' rating and a target price of 775p, stating that the financial derivatives trader was "in a good position to benefit from emerging volatility and reduced competition as regulation bites".
Retailers largely bounced back from heavy falls following a shock profit warning from online giant Asos on Monday, with Dunelm and Superdry both trading higher.
IT infrastructure provider Softcat was the leading faller of the day and was closely followed by Premier Oil, which dropped as oil prices slid amid supply glut worries.
Transport group Stagecoach dropped after HSBC cut its price target from 170p to 145p and Canaccord from 171p to 150p respectively, with the latter citing revenue declines and the disappointing performance of the company's US business and its possible disposal.
"In the absence of new rail franchise wins, group earnings are likely to decline in the coming years. Regional UK bus margins are unlikely to recover significantly beyond 2019 given the jump in hedged fuel prices while congestion, car dependency, regional economic growth and ecommerce are likely to weigh on volume growth," said Canaccord analysts.
Finally, cinema chain Cineworld was lower even as it was upgraded to a 'top pick' by RBC Capital Markets which argued that the company had a "good track record" in a challenging industry.
Market Movers
FTSE 250 (MCX) 17,548.78 0.76%
FTSE 250 - Risers
Indivior (INDV) 107.70p 13.46%
Thomas Cook Group (TCG) 29.82p 9.47%
Vivo Energy (VVO) 124.66p 8.66%
IP Group (IPO) 109.20p 6.64%
IG Group Holdings (IGG) 573.00p 6.21%
Inchcape (INCH) 547.00p 5.29%
Dunelm Group (DNLM) 507.50p 5.12%
Superdry (SDRY) 450.40p 4.55%
BBA Aviation (BBA) 216.20p 4.44%
Coats Group (COA) 79.70p 4.18%
FTSE 250 - Fallers
Softcat (SCT) 556.56p -4.04%
Premier Oil (PMO) 62.50p -3.85%
Stagecoach Group (SGC) 138.20p -3.02%
Provident Financial (PFG) 585.40p -2.63%
Daejan Holdings (DJAN) 5,660.00p -2.41%
Dixons Carphone (DC.) 131.80p -2.33%
TI Fluid Systems (TIFS) 161.20p -2.30%
Cineworld Group (CINE) 263.00p -2.16%
Lancashire Holdings Limited (LRE) 596.00p -2.05%
Pennon Group (PNN) 696.80p -1.78%