LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 was up 0.51% at 18,973.97 in afternoon trade on Tuesday, with 888 Holdings leading the index higher.
The online gambling company rallied after saying it remains on track to meet full-year expectations and posting a 6% increase in like-for-like revenue for the period between 1 January and 18 May.

Analysts at Canaccord said the trading update highlighted ongoing improvements at 888 as sports revenue growth of 29% outstripped their expectations, adding that the company is "well positioned to deliver above average returns and shareholder value through its diverse geographic revenue base."

Card Factory climbed ahead of the release of a Wednesday trading update, with analysts from UBS forecasting first quarter like-for-like growth of 1% and a 4.5% increase in total sales.

"This would represent a welcome return to LFL growth after a small decline in FY19. However, it remains to be seen how much is a result of more supportive weather conditions, including no snow impact this year and a warmer Easter which resulted in higher footfall for the apparel chains and thus more passing traffic for Card Factory," the analysts said.

Woodford Patient Capital Trust - run by Neil Woodford - was the worst performer as it emerged that his flagship Equity Income Fund had been suspended after "an increased level of redemptions".

Neil Wilson, chief market analyst at Markets.com, said: "Woodford has clearly made a series of poor investment decisions. Out-of-love UK stocks may have been ultra-cheap, but they're still unloved and still cheap. Provident has been a disaster. Kier also a disaster. It's been a tough few years for Woodford and things look like they will get worse still."

Woodford Investment Management is the biggest investor in Kier Group, which saw shares tumble 41% on Monday after it warned on profits before dropping again today.

Finally, NewRiver was also lower after analysts at Berenberg cut the stock from 'buy' to 'sell' and slashed its price target from 265p to 248p as they lowered dividend forecasts and took a more cautious view of the real estate investment trust's portfolio.

"We believe that rental levels will not pick up soon and that tenants are asking for shorter lease maturities to allow for greater flexibility. We have, therefore, lowered our assumptions for NRR's portfolio valuation, expecting a further annual decline in net asset value of about 4% in each of the next three years," said analysts.

Market Movers

FTSE 250 (MCX) 18,973.97 0.51%


FTSE 250 - Risers

888 Holdings (888) 140.30p 6.21%
Wood Group (John) (WG.) 410.50p 5.28%
Saga (SAGA) 43.16p 4.66%
Aston Martin Lagonda Global Holdings (AML) 929.80p 4.39%
Bakkavor Group (BAKK) 123.00p 4.24%
Contour Global (GLO) 206.00p 4.15%
Card Factory (CARD) 194.20p 4.07%
GVC Holdings (GVC) 608.60p 3.86%
Ferrexpo (FXPO) 239.00p 3.73%
Babcock International Group (BAB) 459.43p 3.71%

FTSE 250 - Fallers

Woodford Patient Capital Trust (WPCT) 71.00p -7.19%
NewRiver REIT (NRR) 194.60p -5.07%
Kier Group (KIE) 157.00p -4.15%
Stobart Group Ltd. (STOB) 103.80p -3.89%
Aveva Group (AVV) 3,632.00p -3.30%
Go-Ahead Group (GOG) 1,787.00p -2.88%
TBC Bank Group (TBCG) 1,552.00p -2.76%
TI Fluid Systems (TIFS) 180.10p -2.44%
Amigo Holdings (AMGO) 273.50p -2.32%
John Laing Group (JLG) 376.40p -2.28%

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