FTSE 250 movers: Cineworld loses ground; Tullow gushes higher
London’s FTSE 250 was down 0.7% at 22,760.64 in afternoon trade on Wednesday.
Cineworld and travel company Tui were both under the cosh amid worries about Covid-19.
IG market analyst Joshua Mahony said: "Airlines, cinemas, restaurants, and alike are all under heavy selling pressure as investors consider the potential ramifications of another major surge in hospitalisations. The UK has gone from having the lowest cases per 100,000 in Europe, to the worst in just six weeks.
"Thus, while there is hope that the UK vaccination efforts will stop the rise in hospitalisations at a manageable level, there is a very tangible risk that Monday’s reopening leads to a third wave of cases and another bout of restrictions."
Homewares retailer Dunelm fell even as it said annual profits would be ahead of forecasts as fourth-quarter sales more than doubled driven by pent-up demand after stores reopened from Covid lockdown.
Travel food outlet operator SSP Group retreated after it said chief executive Simon Smith has quit to join an unnamed private equity-backed business.
Going the other way, Tullow Oil gushed higher after saying it had made "excellent operational and financial progress in the first half of 2021".
Online review platform Trustpilot was among the top gainers for the third day in a row following a well-received first-half trading update on Monday.
Industrial thread maker Coats Group rallied after upgrading its full-year expectations following a "strong" first half.
FTSE 250 - Risers
Tullow Oil (TLW) 53.46p 4.37%
Trustpilot Group (TRST) 397.20p 4.14%
RHI Magnesita N.V. (DI) (RHIM) 4,264.00p 2.40%
Virgin Money UK (VMUK) 192.80p 2.25%
Helios Towers (HTWS) 163.20p 1.87%
Coats Group (COA) 69.00p 1.77%
888 Holdings (888) 381.60p 1.76%
HICL Infrastructure (HICL) 169.60p 1.68%
Ferrexpo (FXPO) 449.80p 1.58%
IWG (IWG) 313.00p 1.49%
FTSE 250 - Fallers
Cineworld Group (CINE) 64.34p -5.74%
TUI AG Reg Shs (DI) (TUI) 327.30p -5.46%
Dunelm Group (DNLM) 1,376.00p -4.38%
SSP Group (SSPG) 255.20p -3.48%
Grainger (GRI) 295.60p -3.27%
Hammerson (HMSO) 36.73p -3.11%
Telecom Plus (TEP) 1,110.00p -2.80%
Premier Foods (PFD) 105.60p -2.76%
Tate & Lyle (TATE) 737.60p -2.64%
Great Portland Estates (GPOR) 741.00p -2.63%