FTSE 250 movers: Retailers unravel after ASOS warning sends shockwaves
By Duncan Ferris
Date: Monday 17 Dec 2018
(Sharecast News) - London's FTSE 250 was down 1.40% at 17,420.44 in afternoon trade on Monday, as ASOS's shock profit warning signalled that not even online retailers are safe and sent contemporaries spiralling lower.
Retailers were in trouble after AIM-listed online fashion retailer ASOS cut its guidance for the year as weaker trading in November and heavy discounting took their toll, sending Dunelm, JD Sports, B&M and Card Factory all lower.
Neil Wilson, chief market analyst at Markets.com, said: "If Asos is finding it tough out there, then just about every retail stock has problem. We knew the high street was struggling due to structural shifts, but Asos slashing guidance suggests things are even worse in the run up to Christmas than previously thought for the sector and the strife extends well beyond the high street."
Beleaguered tour operator Thomas Cook continued to plumb new depths while energy services group Hunting was in the red after it said its results to the end of November had remained in line with expectations, but sounded a note of caution over its 2019 outlook with the possibility of deferred orders.
Housebuilder Galliford Try also dropped after Rightmove's latest survey showed house prices fell again in December, making the drop over the last two months the biggest since 2012.
In a very muted showing for the index, antivirus specialist Avast was the top gainer after Morgan Stanley raised their target price for the stock from 330p to 345p, while G4S inched back upward after Kepler Cheuvreux reiterated its 'buy' rating for the company's shares with a price target of 300p
Market Movers
FTSE 250 (MCX) 17,420.44 -1.40%
FTSE 250 - Risers
Avast (AVST) 270.10p 2.76%
John Laing Group (JLG) 323.20p 2.73%
Lancashire Holdings Limited (LRE) 607.50p 2.45%
TalkTalk Telecom Group (TALK) 119.80p 2.39%
Hikma Pharmaceuticals (HIK) 1,883.00p 2.14%
Ted Baker (TED) 1,500.00p 1.83%
Centamin (DI) (CEY) 108.95p 1.68%
Telecom Plus (TEP) 1,402.00p 1.45%
G4S (GFS) 188.20p 1.40%
Assura (AGR) 53.70p 1.32%
FTSE 250 - Fallers
Dunelm Group (DNLM) 489.60p -9.42%
JD Sports Fashion (JD.) 325.70p -8.36%
Thomas Cook Group (TCG) 26.70p -6.77%
Hunting (HTG) 480.40p -6.45%
Plus500 Ltd (DI) (PLUS) 1,283.00p -5.87%
Just Group (JUST) 87.85p -5.69%
B&M European Value Retail S.A. (DI) (BME) 282.90p -5.67%
Galliford Try (GFRD) 574.00p -5.51%
Card Factory (CARD) 163.00p -5.40%
Equiniti Group (EQN) 200.90p -4.79%
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