FTSE 250 movers: Currys in favour; No appetite for Greggs
FTSE 250 (MCX) 20,630.59 0.34%
Electricals retailer Currys lifted its full-year profit expectations on Tuesday as it hailed a return to like-for-like sales growth.
In an update for the year to 27 April, the company said group LFL sales returned to growth, up 2% in the 16 weeks since the peak trading period.
Full-year pre-tax profit excluding the Greek business is now expected to be between £115m and £120m, up from previous guidance of "at least" £105m.
The news also boosted shares in rival retailer AO World.
Logistics real estate investor Tritax EuroBox is to sell a Gothenburg warehouse for SEK385m (£28m) as the company continues to dispose of assets to reduce leverage.
UK bakery chain Greggs maintained full year earnings forecasts as underlying sales grew 7.4% in the first 19 weeks of this year in what it called a “challenging market”.
Total sales rose to £693m from £609m a year earlier, boosted by increases in delivery sales, evening trade and increased usage of the Greggs App. Like-for-like sales in company-managed shops was up 7.4%.
Bank of Georgia shares fell as protests continued in the country over the introduction of a new “foreign agents” law that opponents say is a Russia-inspired move towards cracking down on dissent.
Market Movers
FTSE 250 - Risers
Currys (CURY) 70.50p 7.88%
AO World (AO.) 109.00p 5.01%
Babcock International Group (BAB) 525.50p 4.27%
Tritax Eurobox (GBP) (EBOX) 61.50p 4.24%
Trustpilot Group (TRST) 216.00p 3.35%
Inchcape (INCH) 807.00p 3.13%
Watches of Switzerland Group (WOSG) 345.00p 3.11%
Aston Martin Lagonda Global Holdings (AML) 144.60p 2.48%
Supermarket Income Reit (SUPR) 75.20p 2.45%
IP Group (IPO) 50.90p 2.41%
FTSE 250 - Fallers
CMC Markets (CMCX) 257.00p -5.51%
Bank of Georgia Group (BGEO) 4,850.00p -2.41%
Marshalls (MSLH) 307.50p -2.38%
TBC Bank Group (TBCG) 2,990.00p -2.13%
Greggs (GRG) 2,762.00p -1.99%
Lancashire Holdings Limited (LRE) 621.00p -1.90%
International Distributions Services (IDS) 279.40p -1.55%
BlackRock World Mining Trust (BRWM) 608.00p -1.30%
Centamin (DI) (CEY) 124.40p -1.27%
International Public Partnerships Ltd. (INPP) 126.40p -1.25%