FTSE 250 movers: Dixons Carphone in the black; Grafton retreats
London’s FTSE 250 was up 3.2% at 16,819.02 in afternoon trade on Wednesday.
Electrical retailer Dixons Carphone rallied as it scrapped its dividend amid the ongoing coronavirus crisis but said UK and Ireland electrical online sales had soared 166% since the government ordered store closures in late March, offsetting a 16% fall in store sales.
Ascential gained after the events company said it had successfully refinanced its debt facilities in January 2020 and expects to operate well within its covenants at the next testing date at the end of June.
Building materials distributor and DIY retailer Grafton fell as it said trading in the year to mid-March was broadly in line with its expectations and that many of its branches will return to more extended operations next week.
Grafton said its branches generally operated at close to normal levels of activity in the run-up to mid-March, with the impact of Covid-19 becoming visible over the second half of March and intensifying following the introduction of government restrictions.
Hiscox was under pressure after saying it is "evaluating possible sources of capital" which could include raising new equity, amid expectations that rates in the US wholesale and reinsurance market will rise due to the pandemic.
Responding to press speculation, the insurer said no decision has been made on whether to proceed with a capital raise or with regards to the timing or size of any such capital raise.
FTSE 250 - Risers
Dixons Carphone (DC.) 81.95p 19.64%
Ascential (ASCL) 265.80p 15.05%
Provident Financial (PFG) 200.60p 13.77%
Wood Group (John) (WG.) 198.60p 13.71%
Premier Oil (PMO) 28.64p 10.79%
Aggreko (AGK) 460.00p 9.34%
Wetherspoon (J.D.) (JDW) 943.50p 8.98%
Senior (SNR) 66.00p 8.93%
Micro Focus International (MCRO) 490.50p 8.48%
Bodycote (BOY) 626.50p 8.12%
FTSE 250 - Fallers
Grafton Group Units (GFTU) 648.50p -4.80%
Hiscox Limited (DI) (HSX) 699.60p -4.53%
Spirent Communications (SPT) 245.00p -3.94%
Watches of Switzerland Group (WOSG) 237.00p -2.47%
Aston Martin Lagonda Global Holdings (AML) 53.80p -2.27%
Telecom Plus (TEP) 1,342.00p -2.04%
Petropavlovsk (POG) 25.70p -1.72%
Centamin (DI) (CEY) 159.95p -1.69%
Cranswick (CWK) 3,822.00p -1.44%
McCarthy & Stone (MCS) 72.20p -1.24%