FTSE 250 movers: Savills rallies on update; Spire, AO World slump
London’s FTSE 250 was down 0.5% to 18,311.14 in afternoon trade, with retailers in focus.
Estate agent Savills was the standout performer after it said results for the year to the end of December are likely to be “meaningfully ahead” of its previous expectations following a strong fish to the year.
The group saw the completion of significant volumes of commercial and residential transactions in a number of its businesses around the world and benefited from further sterling devaluation.
Sports retailer JD Sports Fashion was a high riser after saying headline pre-tax profit for the current financial year is likely to be ahead of consensus market expectations of £200m by up to 15%.
The group said positive trading has continued through the second half of the year, following 10% growth in like-for-like sales in the 26-week period to 30 July, with the cumulative LFL stores sales growth for the 49 weeks to 7 January 2017 across all group fascias maintained at this level.
Department store Debenhams gained ground as it reported better-than-expected Christmas trading, with like-for-like sales at the department store group strengthening into January and profit margins remaining in line with targets.
Group LFL sales in the 18 weeks to 7 January, which represents the first quarter and a half of its financial year, rose 3.5% at the reported level, with the latter seven weeks of the period seeing LFL sales increase 5.0%, or 1.7% in constant currency.
Fashion retailer Ted Baker was on the front foot again a day after it reported a jump in retail sales over the Christmas period and said results for the year are likely to be in line with its expectations.
Private healthcare provider Spire Healthcare tumbled as it said the group’s underlying performance for the year is expected to be towards the top end of the revenue and EBITDA guidance for 2016, but overall results were hit by the recent trading performance at St Anthony’s hospital.
AO World fell sharply after the online electricals retailer said revenue in the third quarter grew but remained cautious about the final quarter given the uncertain economic outlook in the UK.
Homewares retailer Dunelm was under the cosh after it said like-for-like sales nudged up just 0.2% in the second quarter, hit by a change in the accounting period.
Jupiter Fund Management retreated despite saying it had had a “positive” year with the delivery of strong investment performance, after all fees and net inflows, against a backdrop of market volatility and a variety of macro geopolitical events.
SIG was hit by a downgrade to ‘sell’ by Liberum.
FTSE 250 - Risers
Savills (SVS) 772.00p 11.80%
JD Sports Fashion (JD.) 351.20p 7.93%
Debenhams (DEB) 56.90p 4.69%
Ted Baker (TED) 2,907.00p 4.42%
Centamin (DI) (CEY) 152.00p 4.40%
Vedanta Resources (VED) 990.00p 3.45%
Hochschild Mining (HOC) 230.10p 3.32%
Tullow Oil (TLW) 327.80p 3.21%
Acacia Mining (ACA) 413.10p 3.07%
Evraz (EVR) 228.50p 2.60%
FTSE 250 - Fallers
Spire Healthcare Group (SPI) 312.50p -9.45%
AO World (AO.) 168.30p -8.68%
Dunelm Group (DNLM) 756.00p -5.14%
Inmarsat (ISAT) 711.50p -5.07%
Jupiter Fund Management (JUP) 424.50p -4.61%
SIG (SHI) 95.55p -4.02%
Worldwide Healthcare Trust (WWH) 2,200.00p -3.55%
Ferrexpo (FXPO) 135.20p -3.43%
Allied Minds (ALM) 429.70p -3.18%
BTG (BTG) 590.50p -3.12%