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FTSE 250 movers: WH Smith jumps, Rathbone reels

By Duncan Ferris

Date: Thursday 17 Oct 2019

FTSE 250 movers: WH Smith jumps, Rathbone reels

(Sharecast News) - London's FTSE 250 was 0.26% higher at 20,239.98 in afternoon trade on Thursday, as WH Smith led the index upward.
The retail chain surged as it announced the acquisition of US travel retailer Marshall Retail Group for $400m and posted a 7% jump in full-year headline pre-tax profit.

Stock in Mediclinic continued to gain after the company stated on Wednesday that it expected to report interim core earnings growth now that its Swiss business had adjusted to regulatory changes.

Domino's Pizza was in the green after it said that it will be exiting international markets following a "disappointing" third quarter.

AJ Bell analyst Russ Mould said: "There is now a real opportunity to fix Domino's which has lost its way in recent years thanks to over-expansion, deteriorating relationships with franchisees, international woes and heightened competition.

"For years this was a great business, generating lots of cash and finding a way to sell more pizzas each year. It is now looking for a new chief executive and a new chairman, meaning we could get some fresh thinking on strategy very soon."

Down at the other end of the index, shares of Rathbone Brothers topped the fallers after it reported third quarter growth in funds under management but warned that its investment plans will diminish operating margins.

Analysts from Shore Capital said: "During an extended multi-year period where Rathbones has grown at a slower (organic) rate than many of its listed DFM peers, we have struggled to see a positive investment case, especially as its rating has generally remained at a premium to such peers."

Building materials group Grafton tumbled as it cautioned that full-year profit would be below market expectations.

In parallel, price comparison website Moneysupermarket slumped as it reported a rise third-quarter revenue thanks to a solid performance form its home services segment, but said the money business underperformed.

Finally, Cairn Energy dropped after it said its Chimera 'wildcat' exploration well in the UK North Sea was dry, while Centamin dropped after analysts at Berenberg cut the stock's price target from 120p to 113p.

Market Movers

FTSE 250 (MCX) 20,239.98 0.26%

FTSE 250 - Risers

WH Smith (SMWH) 2,250.00p 7.76%
Aston Martin Lagonda Global Holdings (AML) 506.13p 5.25%
Mediclinic International (MDC) 389.80p 5.21%
Kainos Group (KNOS) 498.40p 5.15%
Restaurant Group (RTN) 151.30p 4.78%
Domino's Pizza Group (DOM) 275.96p 3.82%
Mercantile Investment Trust (The) (MRC) 226.21p 3.53%
Intermediate Capital Group (ICP) 1,440.00p 3.23%
Oxford Instruments (OXIG) 1,312.00p 3.14%
Hill & Smith Holdings (HILS) 1,306.00p 3.08%

FTSE 250 - Fallers

Rathbone Brothers (RAT) 2,112.90p -11.22%
Grafton Group Units (GFTU) 774.50p -10.87% Group (MONY) 354.50p -8.40%
Bank of Georgia Group (BGEO) 1,331.00p -4.11%
Syncona Limited NPV (SYNC) 233.24p -4.01%
Howden Joinery Group (HWDN) 561.40p -3.11%
Vivo Energy (VVO) 121.00p -2.89%
Cairn Energy (CNE) 196.70p -2.43%
Polypipe Group (PLP) 439.80p -2.14%
Centamin (DI) (CEY) 108.99p -1.94%


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