FTSE 250 movers: Marshalls slides as consumer confidence slumps
By Frank Prenesti
Date: Friday 19 Aug 2022
(Sharecast News) - The FTSE 250 was down 0.92% at 19,950.73 at 1547 BST.
With a dearth of corporate news, there was little to spur investors. Things weren't helped by the latest survey from GfK showed that consumer confidence fell to a fresh record low in August amid surging inflation.
GfK's consumer sentiment index dipped three points from July to -44.0 - the lowest level since records began in 1974.
"These findings point to a sense of capitulation, of financial events moving far beyond the control of ordinary people. With headline after headline revealing record inflation eroding household buying power, the strain on the personal finances of many in the UK is alarming," said Joe Staton, client strategy director at GfK.
"Just making ends meet has become a nightmare and the crisis of confidence will only worsen with the darkening days of autumn and the colder months of winter."
The news hit shares in construction and landscaping materials business Marshalls, which reported this week that the uncertain outlook would hit the landscaping unit as consumers rein in discretionary spending.
EasyJet shares fell as the low cost airline's Spanish pilots continued strike action.
FTSE 250 - RISERS
Polymetal International (POLY) 236.90p 3.45%
Fidelity China Special Situations (FCSS) 246.50p 2.28%
Network International Holdings (NETW) 239.60p 1.96%
Darktrace (DARK) 552.20p 1.81%
C&C Group (CDI) (CCR) 188.00p 1.46%
Serco Group (SRP) 181.30p 1.45%
Plus500 Ltd (DI) (PLUS) 1,815.00p 1.45%
Bank of Georgia Group (BGEO) 2,040.00p 1.24%
Syncona Limited NPV (SYNC) 206.00p 1.23%
3i Infrastructure (3IN) 342.50p 1.18%
FTSE 250 - Fallers
Marshalls (MSLH) 388.00p -8.06%
easyJet (EZJ) 385.80p -5.60%
Investec (INVP) 425.60p -5.44%
TUI AG Reg Shs (DI) (TUI) 136.85p -5.03%
Future (FUTR) 1,679.00p -4.93%
Ferrexpo (FXPO) 143.10p -4.54%
Grafton Group Ut (CDI) (GFTU) 750.20p -4.18%
TI Fluid Systems (TIFS) 163.00p -4.12%
Pets at Home Group (PETS) 342.40p -4.04%
ASOS (ASC) 777.50p -4.01%
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