FTSE 250 movers: Meggitt advances; LXI REIT retreats
London’s FTSE 250 was up 1.1% at 17,380.92 in afternoon trade on Thursday.
Aerospace and defence engineer Meggitt rallied even as it said it expects civil revenue in the second quarter to decline by 50% on an organic basis.
Pub group Mitchells & Butlers was up despite saying that it swung a to a first-half pre-tax loss as the coronavirus pandemic hurt revenue.
The company also said in its interims that the reopening of its German Alex business in mid to late May gave it "valuable insight into the challenges and opportunities ahead", adding that sales levels had grown each week since re-opening.
Broker Liberum said the results show "a strong operational performance prior to lockdown and highlight how well positioned the business is to recover strongly on re-opening".
"Its new financing arrangement provide flexibility and security and its experience of reopening its 44 Alex sites in Germany provides extra experience and confidence."
LXI REIT was in the red as it said that so far it has received 84% of its rent for the June to September quarter.
The London-based real estate investment trust said a further 6% was already subject to agreed deferral and repayment plans, a further 4% is subject to ongoing negotiations with tenants and 6% has been granted as temporary concessions as part of Travelodge’s CVA.
FTSE 250 - Risers
Meggitt (MGGT) 329.60p 8.03%
Cineworld Group (CINE) 66.32p 7.73%
Virgin Money UK (VMUK) 99.66p 7.14%
WH Smith (SMWH) 1,125.00p 6.74%
Wetherspoon (J.D.) (JDW) 1,084.00p 6.69%
Ferrexpo (FXPO) 175.00p 6.38%
Euromoney Institutional Investor (ERM) 843.00p 5.90%
IWG (IWG) 275.20p 5.85%
Mediclinic International (MDC) 280.80p 5.48%
Mitchells & Butlers (MAB) 202.00p 5.43%
FTSE 250 - Fallers
PPHE Hotel Group Ltd (PPH) 1,060.00p -5.78%
Ibstock (IBST) 176.30p -4.13%
Workspace Group (WKP) 656.50p -2.74%
Liontrust Asset Management (LIO) 1,385.00p -2.12%
Aston Martin Lagonda Global Holdings (AML) 49.40p -1.89%
Babcock International Group (BAB) 312.00p -1.79%
ICG Enterprise Trust (ICGT) 738.00p -1.60%
Syncona Limited NPV (SYNC) 250.00p -1.57%
LXI Reit (LXI) 114.80p -1.54%
Airtel Africa (AAF) 61.10p -1.45%