FTSE 250 movers: Cineworld slumps; Indivior surges after lifting expectations

London’s FTSE 250 was down 0.2% at 22,492.59 in afternoon trade on Wednesday.

Cineworld slumped, most likely amid worries about the possible impact of a rise in the Delta Covid variant.

Cairn Energy was knocked lower by a downgrade at Berenberg. The bank said: "Full recovery of the India arbitration award could generate material upside for Cairn Energy.

"However, with continued uncertainty around the timing and scale of the ultimate cash receipt, we move our recommendation to hold (from buy) - with a price target of 170p (down from 200p)."

On the upside, Indivior was the top performer after the opioid addiction treatment maker lifted its 2021 guidance following a better-than-expected business performance through the first half the year.

The company now expects total full year revenue of between $705m and $740m, up from previous guidance of up to $625m. This reflects a stronger performance from its Sublocade drug, a continued more modest rate of Soboxone film market share erosion for the remainder of the year and FX benefits of around $10m.

Dixons Carphone was also on the rise after it reinstated its dividend as it swung back to profit on the back of a massive boost in online sales of electrical goods during Covid lockdowns.

FTSE 250 - Risers

Indivior (INDV) 154.40p 6.26%
Dixons Carphone (DC.) 129.40p 5.29%
QinetiQ Group (QQ.) 343.60p 2.69%
C&C Group (CDI) (CCR) 246.60p 2.66%
Trainline (TRN) 292.20p 2.53%
Wood Group (John) (WG.) 218.80p 1.77%
Mediclinic International (MDC) 299.20p 1.56%
Ultra Electronics Holdings (ULE) 2,264.00p 1.52%
Mitchells & Butlers (MAB) 281.60p 1.44%
Savills (SVS) 1,151.00p 1.41%

FTSE 250 - Fallers

Cineworld Group (CINE) 77.42p -4.70%
Auction Technology Group (ATG) 1,124.00p -4.58%
Chrysalis Investments Limited NPV (CHRY) 251.00p -4.20%
Cairn Energy (CNE) 145.40p -4.09%
TP Icap Group (TCAP) 199.14p -3.33%
Hiscox Limited (DI) (HSX) 836.40p -2.99%
Renishaw (RSW) 4,946.00p -2.92%
International Public Partnerships Ltd. (INPP) 167.00p -2.91%
IWG (IWG) 299.70p -2.60%
Tyman (TYMN) 455.00p -2.57%