FTSE 250 movers: Georgian banks recover; C&C fizzes lower
By Michele Maatouk
Date: Tuesday 29 Oct 2024
(Sharecast News) - London's FTSE 250 was up 1% at 20,621.11 in afternoon trade on Tuesday.
TBC Bank and Bank of Georgia rose, having tumbled on Monday after the ruling Georgian Dream party, which is aligned with Russia, won a contested election at the weekend.
Specialty chemicals group Elementis gained as it hailed an "improved" third-quarter performance, with revenue higher across both business segments.
C&C Group fell as it said it remained on track to meet full-year expectations, despite washout summer weather hitting trading.
The Irish drinks manufacturer and distributor, which owns Bulmers, Magners and Tennent's, said net revenues declined 3% to €861.4m in the six months to 31 August.
C&C attributed the decline to poor summer weather and subdued market conditions. In particular, revenues were affected by the disposal of its soft drinks business in Ireland, lower contract brewing volumes and softer cider volumes in Great Britain.
However, underlying group operating profits before exceptional items jumped 29% to €40.3m, after an efficiency drive boosted operating margins.
St James's Place was knocked lower by a downgrade to 'neutral' from 'buy' at Bank of America Merrill Lynch.
FTSE 250 - Risers
TBC Bank Group (TBCG) 2,670.00p 3.29%
Elementis (ELM) 141.20p 2.17%
Kainos Group (KNOS) 856.00p 2.03%
Trainline (TRN) 375.40p 2.01%
PureTech Health (PRTC) 155.00p 1.71%
Indivior (INDV) 703.00p 1.59%
Bank of Georgia Group (BGEO) 3,835.00p 1.59%
Foresight Group Holdings Limited NPV (FSG) 463.00p 1.09%
Softcat (SCT) 1,784.00p 1.02%
BH Macro Ltd. GBP Shares (BHMG) 375.50p 0.94%
FTSE 250 - Fallers
CMC Markets (CMCX) 300.00p -5.96%
Plus500 Ltd (DI) (PLUS) 2,308.00p -4.94%
FirstGroup (FGP) 133.90p -4.77%
C&C Group (CDI) (CCR) 154.00p -4.70%
Burberry Group (BRBY) 752.80p -4.32%
IG Group Holdings (IGG) 886.00p -4.32%
TP Icap Group (TCAP) 226.00p -3.62%
St James's Place (STJ) 819.00p -3.53%
Mitchells & Butlers (MAB) 261.00p -3.51%
Wetherspoon (J.D.) (JDW) 652.50p -3.12%
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