FTSE 250 movers: Thomas Cook back from the dead as Spire slumps

Wed 05 Dec 2018

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 250 was up 0.07% at 18,341.83 in afternoon trade on Wednesday, as Thomas Cook staged a desperate recovery after a series of negative sessions.
Tour operator Thomas Cook was in the green for a change, despite being slated for demotion from the index after having suffered heavy losses in the aftermath of its profit warning last week and plummeted over 70% since the start of the year.

Transport operator Stagecoach surged after its first-half numbers came in ahead of expectations and guidance was upgraded.

The company's adjusted earnings were ahead of expectations, which primarily reflected the "positive resolution" of contractual matters for the now-defunct South West Trains franchise, as well as "strong profitability" at the Virgin Rail Group.

Redrow and Bellway, along with brickmaker Ibstock, were on the rise as strategists at Barclays said that while investors are broadly positioned for the withdrawal agreement to be rejected, there is see scope for material share price moves in the housebuilding sector, particularly in the event the deal is passed or if it receives an emphatic rejection by Parliament.

"Broadly speaking, if we compare the long-term prospective price-to-earnings ratios of the housebuilders with their current multiples, we conclude that the market is pricing in a 26-35% cut in earnings per share," it said.

IP Group rose as its 'overweight' rating and target price of 1,000p was reiterated by Barclays analysts after portfolio company Ultrahaptics, which uses haptics technology to create sensations of touch in mid-air, completed a 35m fundraising.

At the other end of the spectrum, Spire Healthcare and Kier dropped on rumblings that they face demotion from the index in its quarterly reshuffle later this month after sustained periods of poor shareprice performance.

Any changes will be based on company market values from the close of trading on Tuesday and will be confirmed after the close of trade this evening.

Finally, Hunting and Weir were under pressure after the world's largest oilfield services provider, Schlumberger, warned on Tuesday that its fourth-quarter North America revenues were likely to drop because of bigger-than-expected price declines in hydraulic fracturing.

Market Movers

FTSE 250 (MCX) 18,341.83 0.07%

FTSE 250 - Risers

Thomas Cook Group (TCG) 28.78p 26.67%
Stagecoach Group (SGC) 178.64p 16.15%
Redrow (RDW) 501.00p 7.10%
CLS Holdings (CLI) 224.00p 5.16%
Ibstock (IBST) 213.80p 5.11%
Bellway (BWY) 2,629.00p 5.08%
Go-Ahead Group (GOG) 1,693.00p 5.02%
IP Group (IPO) 121.60p 4.83%
Greencore Group (GNC) 185.60p 4.42%
Inmarsat (ISAT) 428.40p 4.31%

FTSE 250 - Fallers

Spire Healthcare Group (SPI) 109.90p -4.68%
Aveva Group (AVV) 2,437.20p -4.35%
Meggitt (MGGT) 503.00p -3.68%
Plus500 Ltd (DI) (PLUS) 1,417.00p -3.54%
Hunting (HTG) 547.50p -3.52%
Weir Group (WEIR) 1,444.50p -3.41%
Playtech (PTEC) 421.40p -3.30%
Indivior (INDV) 98.82p -3.21%
Kier Group (KIE) 407.00p -3.14%
Vesuvius (VSVS) 504.00p -2.98%
BWY - Bellway

Latest Prices

Name Price %
Bellway 2,941.00p +1.17%
Hunting 560.50p +0.45%
Ibstock 248.60p -0.16%
Kier Group 312.78p -0.52%
Redrow 565.50p +1.34%
Spire Healthcare Group 121.39p +0.74%
Thomas Cook Group 12.06p +17.09%
Weir Group 1,555.00p +1.80%
FTSE 250 19,416 +0.42%
FTSE 350 4,066 +0.27%
FTSE All-Share 4,014 +0.27%
Construction & Materials 5,750 +0.59%
Health Care Equipment & Services 7,456 +0.53%
Household Goods & Home Construction 16,174 +0.61%
Industrial Engineering 12,659 +0.90%
Oil Equipment, Services & Distribution 9,752 +1.33%
Travel & Leisure 8,986 -0.10%

Archived Stories

25 Apr Shore Capital slashes UK house builders amid 'weak' pricing
04 Apr Thursday broker round-up
02 Apr Countryside is star buy for Jefferies in upbeat housebuilders report
27 Mar Wednesday broker round-up
27 Mar Bellway's interim profit rises amid strong demand