FTSE 250 movers: Computacenter surges; Petrofac retreats
London’s FTSE 250 was up 1.8% at 15,678.05 in afternoon trade on Friday.
Computacenter surged as it said business had improved further since late April and that the first half of 2020 would be well ahead of the same period a year earlier.
The company said it had picked up large technology sourcing contracts since its last update on 23 April. The computer services group has had a surge of demand from customers seeking help with home working and network safety during the Covid-19 crisis.
National Express was up as it said revenue halved in April but that earnings and cash flow were better than expectations.
The transport operator said the revenue decline of about 50% was in line with guidance it gave when it raised share capital on 6 May. Earnings before interest, tax, depreciation and amortisation surprised on the upside, it said.
Bookmaker William Hill advanced after saying it was planning a phased re-opening of its UK betting shops in the second half as it reported a slump in sales during the coronavirus crisis. Total net revenue fell 57% in the seven weeks to April 28 and the company pulled guidance as the cancellation of sports and Covid-19 lockdowns hit operations. Online betting revenue fell 21%.
On the downside, Petrofac fell as it announced further cost cuts to help offset delays to projects caused by the Covid-19 crisis and depressed oil prices.
The oilfield services company said it would cut an extra £25m (£20m) of costs in 2020, taking planned reductions to at least $125m. It left its cost-cut target for 2021 unchanged at up to $200m.
FTSE 250 - Risers
Computacenter (CCC) 1,491.00p 11.60%
Hammerson (HMSO) 47.98p 10.15%
National Express Group (NEX) 200.40p 9.99%
Trainline (TRN) 382.60p 8.26%
William Hill (WMH) 115.30p 8.01%
Royal Mail (RMG) 175.30p 7.98%
Hochschild Mining (HOC) 159.20p 7.42%
Just Group (JUST) 49.72p 7.25%
Aston Martin Lagonda Global Holdings (AML) 32.92p 7.23%
Provident Financial (PFG) 154.50p 7.14%
FTSE 250 - Fallers
WH Smith (SMWH) 795.00p -9.09%
Airtel Africa (AAF) 37.10p -5.24%
Pets at Home Group (PETS) 227.60p -3.23%
Cineworld Group (CINE) 55.16p -3.16%
Petrofac Ltd. (PFC) 157.55p -2.63%
Marks & Spencer Group (MKS) 86.42p -2.55%
Countryside Properties (CSP) 298.40p -2.29%
Tritax Big Box Reit (BBOX) 125.30p -2.11%
Equiniti Group (EQN) 139.40p -1.97%
Essentra (ESNT) 250.00p -1.96%