FTSE 250 movers: Elementis plummets on profit warning, Stagecoach up on stronger profits

Mid-caps edged lower on Wednesday, as gains made by transport, retail and property stocks were eclipsed by weakness in the industrial metals and computer services sectors.

As of 14:30 BST, the FTSE 250 was trading 0.5% lower at 17,911.

Ladbrokes reversed Tuesday's gains, which were driven by the confirmation the bookie chain was in merger talks with the board of Gala Coral. The tie-up would create the UK’s largest bookmaker with over 4,000 betting shops nationwide.

Chemicals company Elementis plummeted after warning that its full-year earnings per share will miss market expectations due to a significant reduction in oil projects in North America.

Jimmy Choo continued to decline, following reports on Wednesday that founder Tamara Mellon could launch a legal battle against the firm on grounds of anti-competitive behaviour damaging her new label, Tamara Mellon Brand.

Stagecoach was trading higher after reporting a 2.4% rise in full-year pretax profits to £185m, driven by a strong performance from its rail business.

Telecom Plus extended Tuesday's gains, which came as the multi-utility provider confirmed trading was in line with expectations and posted an increase in annual pre-tax profits.

Risers
Telecom Plus (TEP) 880.50p +3.59%
Jardine Lloyd Thompson Group (JLT) 1,047.00p +2.15%
Genus (GNS) 1,472.00p +2.08%
Poundland Group (PLND) 322.00p +2.06%
Fidelity China Special Situations (FCSS) 164.10p +1.93%
Home Retail Group (HOME) 168.90p +1.93%
Fidessa Group (FDSA) 2,242.00p +1.63%
Rank Group (RNK) 218.10p +1.54%
Polar Capital Technology Trust (PCT) 600.00p +1.52%
Scottish Mortgage Inv Trust (SMT) 269.60p +1.47%

Fallers
Elementis (ELM) 259.20p -16.92%
Hunting (HTG) 600.50p -9.56%
Serco Group (SRP) 128.20p -3.83%
Redrow (RDW) 439.30p -3.58%
Just Eat (JE.) 411.00p -3.04%
Evraz (EVR) 135.90p -2.72%
Nostrum Oil & Gas (NOG) 554.50p -2.72%
Berkeley Group Holdings (The) (BKG) 3,310.00p -2.50%
Bodycote (BOY) 748.50p -2.48%
John Laing Group (JLG) 215.00p -2.18%