Portfolio

FTSE 250 movers: B&M European Value rallies; John Laing slumps

By Michele Maatouk

Date: Wednesday 01 Jul 2020

(Sharecast News) - London's FTSE 250 was up 0.6% at 17,215.25 in afternoon trade on Wednesday.
B&M European Value Retail was sitting pretty at the top of the index as it hailed a "strong" first quarter, with a particularly pleasing performance in the UK.

In an update for the period from 29 March to 27 June, the discount retailer said group revenue rose 27.7% to £1.15bn. Revenue at the UK business was 33.7% higher, with like-for-like growth of 26.9%, up from 3.9% in the corresponding period a year ago.

Aerospace and defence company Babcock International rose after it appointed David Lockwood - the former chief executive officer of Cobham - as its new chief executive officer.

Lockwood will succeed Archie Bethel, who announced earlier this year that he was planning to retire.

Telecom tower infrastructure company Helios Towers was trading up as it appointed chief financial officer Tom Greenwood to the newly-created role of chief operating officer.

John Laing was in the red as it said first-half net asset value before deducting dividends was expected to show a single-digit decline as investment activity was hampered by the coronavirus lockdown.

SSP lost ground after saying it was looking to slash 5,000 jobs in the UK as it dealt with the collapse in air travel due to the pandemic. The company, which operates outlets at airports and train stations, said it expected only 20% of stores to be open by the autumn.

FTSE 250 - Risers

B&M European Value Retail S.A. (DI) (BME) 423.80p 6.62%
Liontrust Asset Management (LIO) 1,365.00p 4.60%
Spirent Communications (SPT) 252.00p 4.56%
Cairn Energy (CNE) 122.60p 4.07%
UK Commercial Property Reit Limited (UKCM) 62.20p 4.01%
Babcock International Group (BAB) 322.30p 3.90%
Rotork (ROR) 290.80p 3.86%
Helios Towers (HTWS) 154.20p 3.77%
Mitchells & Butlers (MAB) 195.00p 3.72%
Safestore Holdings (SAFE) 751.50p 3.51%

FTSE 250 - Fallers

John Laing Group (JLG) 311.80p -10.51%
Energean (ENOG) 576.00p -6.34%
Future (FUTR) 1,212.00p -5.02%
Royal Mail (RMG) 173.60p -4.75%
Oxford Instruments (OXIG) 1,378.00p -3.64%
Ferrexpo (FXPO) 168.20p -3.00%
Sabre Insurance Group (SBRE) 256.50p -2.84%
Coats Group (COA) 54.60p -2.50%
SSP Group (SSPG) 250.80p -2.49%
Britvic (BVIC) 751.50p -2.40%

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