FTSE 250 movers: GVC gains, 4Imprint falls
By Duncan Ferris
Date: Wednesday 09 Oct 2019
(Sharecast News) - London's FTSE 250 was up by 0.17% at 19,233.82 in afternoon trade on Wednesday, with shares of GVC Holdings leading the index higher.
The gambling company's stock rallied as it upgraded its full-year profit forecasts on the back of a strong third quarter driven by online revenues.
The Ladbrokes-owner said it now expected earnings before interest, tax depreciation and amortisation to be in the range of £670m - £680m, up from £650m - £670m beforehand.
Analysts from Berenberg said the trading update reinforced their view that GVC was "the name to own" in the gambling sector, stating that the strong performance from the company's online operations was "reassuring and leaves GVC well placed to deliver strong growth".
Telecoms provider Airtel Africa followed close behind after partnering with MasterCard to create a virtual instant payment card that can be used by its 100m mobile phone users across 14 African countries.
SIG was in the green, bouncing back a little after the building material supplier's shares slid earlier in the week following its profit warning on Monday.
Hays was also in recovery mode, having dropped during Tuesday's session after fellow recruiter PageGroup had issued a profit warning due to slow German growth, Brexit, the Sino-US trade spat and protests in Hong Kong.
Down at the other end of the index, promotional gifts distributor 4Imprint was the top faller as HSBC initiated the stock with a 'hold' rating, while OneSavings Bank followed close behind a day after completing its merger with Charter Court.
Finally, Wagamama-owner Restaurant Group was also lower after analysts at Jefferies resumed coverage of the stock with a 'buy' rating.
Market Movers
FTSE 250 (MCX) 19,233.82 0.17%
FTSE 250 - Risers
GVC Holdings (GVC) 792.20p 5.63%
Airtel Africa (AAF) 51.85p 4.03%
SIG (SHI) 103.00p 3.67%
Wizz Air Holdings (WIZZ) 3,636.00p 2.34%
Hays (HAS) 141.20p 2.24%
Travis Perkins (TPK) 1,214.50p 1.97%
Weir Group (WEIR) 1,346.00p 1.97%
Rank Group (RNK) 185.40p 1.87%
Trainline (TRN) 416.00p 1.71%
Convatec Group (CTEC) 177.85p 1.63%
FTSE 250 - Fallers
4Imprint Group (FOUR) 2,860.00p -4.98%
OneSavings Bank (OSB) 325.00p -4.64%
Telecom Plus (TEP) 1,179.10p -4.14%
Drax Group (DRX) 266.00p -3.76%
TBC Bank Group (TBCG) 1,152.00p -3.68%
Fisher (James) & Sons (FSJ) 1,870.00p -2.91%
Sirius Minerals (SXX) 3.71p -2.47%
Babcock International Group (BAB) 500.20p -2.23%
Restaurant Group (RTN) 134.00p -2.19%
FDM Group (Holdings) (FDM) 687.00p -2.14%
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