FTSE 250 movers: Cineworld climbs, Euromoney drops
London's FTSE 250 was up by 0.55% at 20,613.94 in afternoon trade on Wednesday, as Cineworld led the index higher.
The cinema chain rebounded strongly, having fallen on Tuesday after it warned that full-year trading would fall "slightly" below expectations due to a weak box office performance.
Investec climbed after analysts at UBS hiked the stock's price target from 560p to 580p, while Premier Oil climbed alongside a rise in oil price as industry data showed a decline in US crude stockpiles ahead of an upcoming OPEC meeting.
Down at the other end of the index, Euromoney Institutional Investor led the fallers, while Moneysupermarket was hit by a downgrade to ‘underperform’ at RBC Capital Markets, as they commented that they prefer on of its price comparison rivals.
"Outside of macro factors, successful innovation of the customer experience has the potential to accelerate this growth, in our view. As such, we prefer GoCo Group over Moneysupermarket which appears to be making ground in this respect. Accordingly, our revenue growth outlook for GoCo Group is higher than that for Moneysupermarket, albeit this comes with greater investment near-term," said analysts.
Market Movers
FTSE 250 (MCX) 20,613.94 0.55%
FTSE 250 - Risers
Cineworld Group (CINE) 214.00p 8.11%
Investec (INVP) 439.30p 5.22%
Kainos Group (KNOS) 624.00p 5.05%
Future (FUTR) 1,326.00p 4.57%
IP Group (IPO) 59.90p 3.81%
Premier Oil (PMO) 88.26p 3.81%
Provident Financial (PFG) 423.50p 3.80%
Pets at Home Group (PETS) 250.40p 3.30%
Vesuvius (VSVS) 453.80p 3.18%
Plus500 Ltd (DI) (PLUS) 771.40p 3.05%
FTSE 250 - Fallers
Euromoney Institutional Investor (ERM) 1,206.00p -3.67%
Sanne Group (SNN) 617.00p -3.59%
PureTech Health (PRTC) 253.00p -2.69%
Moneysupermarket.com Group (MONY) 324.60p -2.52%
FirstGroup (FGP) 115.60p -2.28%
Watches of Switzerland Group (WOSG) 318.80p -1.85%
Unite Group (UTG) 1,200.00p -1.72%
Marshalls (MSLH) 761.00p -1.68%
Brewin Dolphin Holdings (BRW) 332.60p -1.66%
Rank Group (RNK) 247.00p -1.59%