FTSE 250 movers: Thomas Cook bounces back; Renishaw hit by downgrade
London's FTSE 250 was down 0.2% to 19,965.21 in afternoon trade as the week ended on a quiet note, with many traders probably busy chasing down the best Black Friday deals.
Thomas Cook was the standout gainer, bouncing back from losses earlier in the week after its annual results. The travel company said on Wednesday that profits in the UK fell 23% to £111m as strong first-half trading gave way to weakness caused by rising hotel prices, the reduced value of the pound and greater competition among airlines.
Pub group Mitchells & Butlers was also recovering from heavy losses in the previous session, when it posted a drop in full-year profit on the back of inflationary cost headwinds and said it will not pay an interim dividend for the current financial year.
On the downside, doorstep lender Provident Financial was in the red after it said executive chairman Manjit Wolstenholme has died. Wolstenholme, aged 52, took on the additional temporary executive role at the embattled doorstep lender after Peter Crook resigned as chief executive in August after announcing the second profit warning in as many months.
Renishaw was also weaker after UBS downgraded the stock to 'sell', pointing to the fact the valuation is now at a 70% premium to the sector.
Risers
Thomas Cook Group (TCG) 116.00p 4.13%
Countryside Properties (CSP) 358.20p 3.14%
Mitchells & Butlers (MAB) 246.40p 2.24%
Hill & Smith Holdings (HILS) 1,341.00p 1.98%
Big Yellow Group (BYG) 838.50p 1.95%
esure Group (ESUR) 251.70p 1.90%
Restaurant Group (RTN) 293.90p 1.70%
888 Holdings (888) 258.10p 1.49%
SIG (SHI) 167.40p 1.39%
Jardine Lloyd Thompson Group (JLT) 1,320.00p 1.38%
Fallers
Serco Group (SRP) 92.95p -3.68%
Telecom Plus (TEP) 1,192.00p -3.56%
Renishaw (RSW) 5,394.37p -2.89%
AA (AA.) 150.50p -2.46%
Brown (N.) Group (BWNG) 267.80p -2.44%
NewRiver REIT (NRR) 318.10p -2.42%
Capita (CPI) 470.00p -2.37%
Intu Properties (INTU) 197.10p -2.28%
Provident Financial (PFG) 890.50p -2.04%
Tate & Lyle (TATE) 681.50p -1.80%