FTSE 250 movers: Victrex falters, Telecom Plus dials higher
London's FTSE 250 index was down 1.14% at 19,481.51 in afternoon trade on Tuesday, with Victrex leading the way lower as markets fell back following an escalation in Sino-US trade tensions.
The polymer solutions supplier was the top faller ahead of the release of its interim results next Monday, while Essentra dropped after a rating downgrade from 'buy' to 'hold' at Stifel, as analysts downgraded a slew of industrial distribution companies to reflect "a less aggressive view of the sustainability and robustness of economic prospects".
CYBG fell following the weekend's news that a group representing more than 100 small businesses is suing its Clydesdale Bank, with the group alleging that fixed-rate loans from the bank came with interest rates had been inflated by hidden margins.
William Hill dropped lower as analysts at Peel Hunt cut full-year profit before tax estimates by £5m, or 5%, to reflect "tough trading in Sweden", while Ferrexpo was also lower as analysts at HSBC cut the stock's price target from 340p to 275p.
Finally, Telecom Plus was the top riser following a Telegraph article from AJ Bell's Russ Mould asserting that the business was "well set" for earnings and dividend increases due to "solid customer growth, a refinement of its energy supply agreement with npower and trouble at leading power supply rivals".
FTSE 250 (MCX) 19,481.51 -1.14%
FTSE 250 - Risers
Telecom Plus (TEP) 1,464.00p 2.66%
Greggs (GRG) 1,828.00p 1.73%
Greencore Group (GNC) 227.32p 1.62%
AJ Bell (AJB) 455.00p 1.56%
Polymetal International (POLY) 807.80p 1.56%
TalkTalk Telecom Group (TALK) 123.60p 1.39%
JD Sports Fashion (JD.) 637.80p 0.98%
Great Portland Estates (GPOR) 762.60p 0.95%
Drax Group (DRX) 329.60p 0.86%
HarbourVest Global Private Equity Limited A Shs (HVPE) 1,520.00p 0.80%
FTSE 250 - Fallers
Victrex plc (VCT) 2,282.00p -6.86%
Essentra (ESNT) 393.80p -5.74%
CYBG (CYBG) 194.20p -5.41%
Premier Oil (PMO) 89.08p -4.73%
Cairn Energy (CNE) 156.20p -4.58%
William Hill (WMH) 148.30p -4.57%
Ferrexpo (FXPO) 210.70p -4.44%
Kaz Minerals (KAZ) 597.80p -4.11%
Playtech (PTEC) 411.60p -3.97%
Hastings Group Holdings (HSTG) 180.50p -3.94%