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FTSE 250 movers: Contour powers ahead as B&M stumbles

By Duncan Ferris

Date: Tuesday 13 Nov 2018

LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 was up 0.81% at 18,964.88 in afternoon trade on Tuesday, as ContourGlobal and BTG both shot more than 10%.
Healthcare products group BTG surged 15% as it posted a rise in interim revenue and upgraded sales guidance for its legacy pharmaceuticals arm for the second upgrade in just over a month, due to a very strong performance from its snake bite treatment.

Broker Peel Hunt estimated this would add 1% to group revenue and 5% to earnings per share, while guidance for a lower tax rate is likely result in a low double-digital increase to current year EPS forecasts.

Power generation business ContourGlobal was the strongest riser on the mid-cap index, recovering after a sharp drop on Monday.

FirstGroup advanced as it appointed a new chief executive officer, offsetting confirmation of a widening of its first-half pre-tax loss. Trading was still said to be in line with plans from the start of the financial year.

International builders merchanting and DIY group Grafton was on the up after it said like-for-like group revenue for the four months to end-October rose 5.5% as its Irish and Dutch businesses performed well.

Aviation support and aftermarket services provider BBA Aviation also rose as it told shareholders of the stages through which it planned to deliver more value. BBA management held its first of two capital markets days this week at its Luton Airport fixed-base operation.

Discount retailer B&M European Value was the day's big faller as it reported slower sales growth in the second quarter and squeezed margins in Germany as the group introduces a new product range. On the outlook, chief executive Simon Arora said conditions across the retail sector remain challenging due sluggish economic growth in the UK, structural change across the retail industry and the uncertainty around Brexit.

Software and hardware outfit Sophos was hit by a downgrade to 'hold' at Shore Capital, with analysts stating that the company had misjudged the impact of factors such as "slower growth in customers, a moderating renewal rate and a significant ramp in opex in H1".

Pennon was dented by a downgrade to 'hold' at Deutsche Bank, where analysts noted that the water utility and waste management company's shares have risen strongly since early April and are now trading at the bank's 780p target price.

Market Movers
FTSE 250 (MCX) 18,964.88 0.81%

FTSE 250 - Risers

Contourglobal (GLO) 167.70p 11.73%
BTG (BTG) 663.00p 11.24%
FirstGroup (FGP) 87.50p 9.86%
Grafton Group Units (GFTU) 781.50p 8.09%
Fisher (James) & Sons (FSJ) 1,732.00p 6.52%
Thomas Cook Group (TCG) 52.05p 6.01%
Just Group (JUST) 91.15p 5.80%
BBA Aviation (BBA) 237.80p 3.84%
FDM Group (Holdings) (FDM) 905.31p 3.82%
IP Group (IPO) 110.60p 3.56%

FTSE 250 - Fallers

B&M European Value Retail S.A. (DI) (BME) 385.00p -4.94%
Sophos Group (SOPH) 314.40p -4.84%
Premier Oil (PMO) 96.25p -3.75%
Pennon Group (PNN) 752.40p -3.66%
Essentra (ESNT) 372.60p -3.22%
Games Workshop Group (GAW) 3,090.00p -3.13%
Babcock International Group (BAB) 600.80p -2.50%
Syncona Limited NPV (SYNC) 274.50p -2.49%
Playtech (PTEC) 458.00p -2.14%
Coats Group (COA) 80.00p -2.08%

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Price Data

Price 6,305.96
Change Today -15.60
% Change -0.25 %
20-May-19 Close 6,305.96

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