FTSE 250 movers: Indivior surges on Jefferies note; Wood Group hit by downgrade
London’s FTSE 250 was down 0.1% at 20,625.99 in afternoon trade on Tuesday.
Wood Group was knocked lower by a downgrade to ‘equalweight’ at Morgan Stanley.
Electrical retailer AO World slumped despite posting a 67% rise in UK third-quarter revenues, as it highlighted "significantly higher" costs due to the pandemic and said it had seen a slightly increased rate of cancellation of consumers' long-term contracts in mobile and warranties.
Mr Kipling owner Premier Foods was down despite lifting its full-year profit guidance, after the introduction of fresh lockdown restrictions saw people spend more on eating at home during the key festive trading season.
Drinks maker Britvic fizzed lower after Citi said that a worsening second-quarter outlook was likely to drive consensus downgrades.
On the upside, opioid addiction treatment maker Indivior surged as Jefferies included it in its 15 best ideas list, saying there is around 56% upside to the shares and the market is currently forecasting more than $250m peak sales for Sublocade, which it reckons is far too conservative.
Jefferies noted that Sublocade is already annualising about $150m and continues to grow incrementally; the patient population is growing double digit; and its recent survey highlights physicians expect significant market share gains over the next five years.
Travel and leisure stocks were also on the rise amid hopes that vaccinations will aid a return to some form of normality, with Wetherspoons, Mitchells & Butlers, Wizz Air and easyJet all higher.
FTSE 250 - Risers
Indivior (INDV) 130.20p 9.23%
Wetherspoon (J.D.) (JDW) 1,188.00p 4.58%
Network International Holdings (NETW) 342.20p 3.70%
Mitchells & Butlers (MAB) 257.00p 3.42%
Wizz Air Holdings (WIZZ) 4,444.00p 3.20%
easyJet (EZJ) 840.00p 2.94%
Greggs (GRG) 1,959.00p 2.73%
Grafton Group Ut (GFTU) 909.00p 2.65%
Savills (SVS) 1,053.00p 2.53%
BMO Commercial Property Trust Limited (BCPT) 77.60p 2.51%
FTSE 250 - Fallers
Wood Group (John) (WG.) 329.10p -5.70%
AO World (AO.) 360.50p -4.50%
Premier Foods (PFD) 103.60p -4.07%
WH Smith (SMWH) 1,558.00p -3.95%
Babcock International Group (BAB) 197.50p -3.80%
Airtel Africa (AAF) 76.10p -3.30%
4Imprint Group (FOUR) 2,215.00p -3.28%
Britvic (BVIC) 763.50p -3.11%
Vietnam Enterprise Investments (DI) (VEIL) 601.00p -3.06%
Unite Group (UTG) 963.50p -3.02%