FTSE 250 movers: TUI travels lower; B&M rallies on update
By Michele Maatouk
Date: Friday 29 May 2020
(Sharecast News) - London's FTSE 250 was down 1.5% at 17,085.51 in afternoon trade on Friday.
Travel company TUI was the worst performer, closely followed by luxury car maker Aston Martin.
B&M European Value Retail gained after it reported a rise in sales in the first eight weeks of the new fiscal year as locked-down Britons took advantage of the sunny weather to do home repairs and gardening during the coronavirus crisis.
Like-for-like sales rose 22.7% in the period, while the company also reported a strong end to fourth quarter sales as customers packed into stores during the wave of panic buying in March to stockpile groceries, driving a 6.6% rise.
Provident Financial was higher after Jefferies upped its rating on the doorstep lender to 'buy' from 'hold'.
"Balance sheet strength will help PFG to weather the recession, and it will emerge into a larger non-prime lending market with fewer competitors and with funding flexibility to take market share," the bank said.
It also said recession will likely push more people into Provident's target market.
Shaftesbury was on the rise after Capital & Counties Properties said late on Thursday that it was in talks about the potential acquisition of a 26.3% stake in the company.
FTSE 250 - Risers
B&M European Value Retail S.A. (DI) (BME) 391.00p 5.85%
PayPoint (PAY) 761.00p 4.53%
Provident Financial (PFG) 196.20p 4.42%
Ferrexpo (FXPO) 177.90p 3.73%
Shaftesbury (SHB) 625.50p 3.73%
Future (FUTR) 1,348.00p 3.69%
Petropavlovsk (POG) 24.45p 3.60%
Gamesys Group (GYS) 848.00p 3.41%
Homeserve (HSV) 1,323.00p 3.36%
Contour Global (GLO) 179.60p 3.34%
FTSE 250 - Fallers
TUI AG Reg Shs (DI) (TUI) 419.90p -19.34%
Wood Group (John) (WG.) 191.35p -11.29%
Aston Martin Lagonda Global Holdings (AML) 52.00p -11.11%
Micro Focus International (MCRO) 400.70p -10.80%
Hyve Group (HYVE) 98.11p -10.63%
Virgin Money UK (VMUK) 89.94p -10.24%
Helios Towers (HTWS) 150.00p -9.75%
Cineworld Group (CINE) 84.74p -9.70%
Investec (INVP) 148.65p -9.39%
Stagecoach Group (SGC) 66.40p -8.73%
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