FTSE 250 movers: FirstGroup rallies; Synthomer slides on downgrade
London’s FTSE 250 was up 1% at 22,869.33 in afternoon trade on Monday.
FirstGroup surged to the top of the index ahead of results this week from the transport operator and expectations it will update investors on the hunt for a new chief executive.
Shipping broker Clarkson rallied after lifting its annual profits guidance as the global economy recovers from the impact of Covid-19. The company now expects underlying profit before tax to be not less than £65m, with performance strong across all divisions, especially in finance and broking.
Victrex advanced after it posted a rise in full-year profit and revenue and hiked its dividend.
Synthomer tumbled after Morgan Stanley downgraded the shares to ‘underweight’ from ‘overweight’ and slashed the price target to 400p from 568p.
The bank cited a sharp deterioration in the supply outlook and associated risk of faster-than-expected normalisation in earnings.
"We believe this, combined with volume risks, a management transition and rising leverage, leaves risks skewed to the downside," it said.
FTSE 250 - Risers
FirstGroup (FGP) 101.10p 8.53%
Clarkson (CKN) 3,870.00p 5.02%
Hochschild Mining (HOC) 132.40p 4.25%
Restaurant Group (RTN) 87.10p 3.94%
Mitchells & Butlers (MAB) 232.20p 3.85%
Victrex plc (VCT) 2,444.00p 3.82%
Balfour Beatty (BBY) 247.00p 3.52%
Hammerson (HMSO) 32.47p 3.34%
Trustpilot Group (TRST) 303.40p 3.20%
Wetherspoon (J.D.) (JDW) 874.00p 3.13%
FTSE 250 - Fallers
Synthomer (SYNT) 412.20p -13.22%
Micro Focus International (MCRO) 334.90p -4.91%
Baillie Gifford US Growth Trust (USA) 314.50p -3.68%
Network International Holdings (NETW) 262.50p -3.10%
Playtech (PTEC) 724.00p -2.82%
TBC Bank Group (TBCG) 1,556.00p -2.75%
Aston Martin Lagonda Global Holdings (AML) 1,333.00p -2.56%
Auction Technology Group (ATG) 1,444.00p -2.43%
Liontrust Asset Management (LIO) 2,270.00p -2.37%
Volution Group (FAN) 500.00p -2.34%