FTSE 250 movers: Bodycote surges but Go-Ahead hit by downgrade
London’s FTSE 250 was up 0.1% to 20,762.76 in afternoon trade on Wednesday.
Heat treatment provider Bodycote surged after it posted a jump in revenue for the first four months of the yearand said it now expects full-year revenue to be higher than previously anticipated, with headline operating profit also seen slightly ahead of current consensus forecasts.
"We have seen robust growth in the first four months of the year in spite of the foreign currency headwind. At this early stage, and notwithstanding the group's limited visibility, the board now expects full year revenue to be higher than previously expected and headline operating profit to be slightly ahead of current analysts' consensus," the company said.
Centamin was on the rise after Panmure Gordon upgraded the stock to ‘buy’ while discount retailer B&M European Value Retail advanced as it said it made a good start to the year and posted a 25% increase in annual profit.
Pre-tax profit for the 53 weeks to the end of March rose to £229.3m from £182.9m as revenue increased 22.4% to £2.98bn. Excluding the extra week in 2017-18, profit rose 23.6% to £226.1m.
On the downside, Go-Ahead was under the cosh after a downgrade to ‘hold’ at Liberum and Hikma Pharmaceuticals retreated as its US subsidiary West-Ward Pharmaceuticals launched a generic version of a treatment for postpartum haemorrhage.
FTSE 250 - Risers
Bodycote (BOY) 993.50p 7.41%
Tullow Oil (TLW) 247.85p 4.05%
Centamin (DI) (CEY) 125.45p 3.63%
Thomas Cook Group (TCG) 116.90p 3.63%
RDI Reit (RDI) 38.00p 3.40%
Purecircle Limited (DI) (PURE) 344.50p 3.30%
TBC Bank Group (TBCG) 1,654.00p 2.99%
B&M European Value Retail S.A. (DI) (BME) 382.90p 2.65%
Pets at Home Group (PETS) 126.16p 2.40%
Indivior (INDV) 478.00p 2.31%
FTSE 250 - Fallers
Stobart Group Ltd. (STOB) 222.87p -6.36%
Go-Ahead Group (GOG) 1,752.00p -4.73%
TalkTalk Telecom Group (TALK) 112.80p -3.09%
Ferrexpo (FXPO) 214.85p -2.34%
Hikma Pharmaceuticals (HIK) 1,308.00p -1.99%
FDM Group (Holdings) (FDM) 1,000.00p -1.96%
Vedanta Resources (VED) 710.20p -1.91%
Alfa Financial Software Holdings (ALFA) 309.50p -1.90%
Edinburgh Dragon Trust (EFM) 369.00p -1.86%
esure Group (ESUR) 236.00p -1.67%