FTSE 250 movers: Metro Bank chugs higher, Provident Financial sinks
London's FTSE 250 was 0.11% higher at 20,112.56 in afternoon trade on Friday, with Metro Bank leading the index higher.
Banks
3,895.51
17:09 19/04/24
Barr (A.G.)
549.00p
16:34 19/04/24
Beverages
22,467.12
17:10 19/04/24
Crest Nicholson Holdings
186.50p
17:05 19/04/24
Equity Investment Instruments
11,473.91
17:09 19/04/24
Financial Services
14,075.11
17:09 19/04/24
FTSE 250
19,391.30
17:09 19/04/24
FTSE 350
4,341.08
17:09 19/04/24
FTSE All-Share
4,296.41
17:08 19/04/24
Grafton Group Ut (CDI)
926.30p
16:35 19/04/24
Household Goods & Home Construction
12,287.29
17:10 19/04/24
JPMorgan Indian Investment Trust
920.00p
16:40 19/04/24
Metro Bank Holdings
31.95p
16:40 19/04/24
Support Services
10,465.25
17:10 19/04/24
TBC Bank Group
3,065.00p
16:35 19/04/24
Vanquis Banking Group 20
48.60p
16:35 19/04/24
Virgin Money UK
1,696.80p
16:34 19/04/24
Vistry Group
1,114.00p
17:03 19/04/24
Housebuilders and banks were the biggest gainers, with Metro Bank, Grafton Group, CYBG, Crest Nicholson, Bovis and TBC Bank all higher.
The JPMorgan Indian Investment Trust was also a high riser after Indian stock markets surged after the South Asian nation's government introduced sweeping corporate tax cuts in a bid to stimulate its economy.
Down at the other end of the index, Provident Financial led the fallers as analysts from Canaccord cut the stock's target price from 430p to 378p and slashed their EPS and DPS forecasts by 5%, 11% and 17% in FY19-21, respectively.
The analysts highlighted concerns with the group's Vanquis Bank operations, cutting Vanquis' profit before tax forecasts by 1%, 9% and 16% for the next three years.
Stock in asset manager Investec fell as it warned on profits at its UK banking business due to Brexit and global trade wars hitting fees and trading income. The company said headline earnings per share were expected to be 15% -18% lower year-on-year.
AG Barr was also trading lower ahead of the release of its interim results next week, with the Irn Bru maker having warned on profits back in July.
Finally, Sirius Minerals was among the top fallers once again at the end of a week where the fertiliser company pulled a $500m bond sale that was crucial to unlocking a vital $2.5bn credit facility from JPMorgan.
Market Movers
FTSE 250 (MCX) 20,112.56 0.11%
FTSE 250 - Risers
Metro Bank (MTRO) 310.20p 6.09%
Grafton Group Units (GFTU) 758.00p 5.20%
JPMorgan Indian Investment Trust (JII) 718.00p 4.82%
Aston Martin Lagonda Global Holdings (AML) 601.00p 3.69%
CYBG (CYBG) 124.30p 3.45%
Rank Group (RNK) 184.00p 3.37%
Crest Nicholson Holdings (CRST) 383.60p 3.12%
Bovis Homes Group (BVS) 1,120.00p 2.94%
TBC Bank Group (TBCG) 1,276.00p 2.57%
Hochschild Mining (HOC) 209.80p 2.54%
FTSE 250 - Fallers
Provident Financial (PFG) 409.40p -7.27%
Investec (INVP) 456.40p -6.74%
PureTech Health (PRTC) 270.00p -4.93%
Contour Global (GLO) 181.60p -2.89%
Cineworld Group (CINE) 233.10p -2.75%
Barr (A.G.) (BAG) 579.00p -2.36%
Vivo Energy (VVO) 122.60p -2.23%
Sirius Minerals (SXX) 4.33p -2.12%
Sanne Group (SNN) 582.00p -1.85%
Mediclinic International (MDC) 343.70p -1.69%