FTSE 250 movers: Ferrexpo gains; Ultra Electronics falls after Friday's surge
By Michele Maatouk
Date: Monday 26 Jul 2021
(Sharecast News) - London's FTSE 250 was 0.2% firmer at 22,923.89 in afternoon trade on Monday.
Ferrexpo was sitting pretty at the top of the index as iron ore prices rose.
EasyJet was among the risers as Ryanair flew higher. The Irish budget carrier reported a widening of its first-quarter losses as it continued to be impacted by Covid restrictions, but lifted its traffic forecast as bookings have surged in recent weeks.
The company's first-quarter losses widened to €273m from €185m in the same period a year ago. It said Covid-19 continued to "wreak havoc" on its business, with most Easter flights cancelled and a slower-than-expected easing of EU government travel restrictions into May and June. However, traffic recovered to 8.1m from 0.5m as demand picked up in May and June.
Insurer Beazley was on the front foot after an upgrade to 'buy' from 'hold' at Berenberg, which said it's "one of the most exciting recovery growth stories in insurance".
Food producer Cranswick gained as it reported a rise in first-quarter revenue, driven by strong retail demand and increased poultry sales.
On the downside, defence company Ultra Electronics fell, having surged more than 30% on Friday after saying it was minded to recommend a £2.58bn takeover bid from Cobham to shareholders.
FTSE 250 - Risers
Ferrexpo (FXPO) 459.00p 3.75%
Tyman (TYMN) 449.50p 3.57%
Trainline (TRN) 317.40p 3.52%
easyJet (EZJ) 839.60p 3.17%
Cineworld Group (CINE) 65.40p 3.15%
4Imprint Group (FOUR) 2,645.00p 3.12%
Diversified Energy Company (DEC) 103.00p 3.00%
Beazley (BEZ) 393.80p 2.95%
Apax Global Alpha Limited (APAX) 204.50p 2.87%
Cranswick (CWK) 4,102.00p 2.50%
FTSE 250 - Fallers
Fidelity China Special Situations (FCSS) 353.50p -4.72%
Ultra Electronics Holdings (ULE) 3,158.00p -3.43%
Templeton Emerging Markets Inv Trust (TEM) 190.04p -2.64%
Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 889.00p -1.98%
Dr. Martens (DOCS) 460.60p -1.96%
Centrica (CNA) 47.17p -1.81%
Just Eat Takeaway.Com N.V. (CDI) (JET) 5,995.00p -1.75%
Euromoney Institutional Investor (ERM) 1,018.00p -1.74%
Inchcape (INCH) 834.50p -1.65%
Future (FUTR) 3,468.00p -1.64%
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