FTSE 250 movers: Genus jumps, Restaurant Group slumps

Genus shares hit a fresh record high on the back of an update from sausage skin manufacturer Devro which reported that its factory in Nantong, China, had returned to normal production.

Shares of Devro jumped alongside.

Nonetheless, in a research note sent to clients, analysts at Peel Hunt said: "The impact on sales has been limited thus far, albeit Q1 is a relatively unimportant period.

"Customers in China will be seeing slower demand and this is likely to affect demand for Devro in Q2. In addition, there may be some impact on sales in other markets."

In the background, there were also reports referencing NASA imagery revealing a partial rebound in Chinese factory sector activity since mid-February.

Linked to the above, TI Fluid Systems was right behind on the second tier index's leaderboard.

Other recently beaten down stocks on the back of the COVID-19 coronavirus's spread also found a bid, including Cineworld, which was also one of the most heavily-traded issues on Wednesday.

Wizz Air was another top gainer as the regional low cost carrier revealed that it was mulling a 10% cut to capacity on its flights in the first quarter of the next fiscal year in response to the virus.

"At this point in time it is difficult to predict the extent and the duration of the outbreak and the impact on the next financial year, however we remain confident that as the situation normalises, Wizz Air will continue its highly successful trajectory," its management said in a statement.

Going the other way, Signature Aviation sank despite posting improved full-year results earlier in the session.

Restaurant Group was close behind, weighed down by a downwardly revised target price out of Peel Hunt from 145.0p to 120.0p.

The broker cited concerns around the ability of the company's Leisure division to accomodate the hike in the National Living Wage, the ability of Wagamama to grow its like-for-like sales at a 5-10% pace over the long-term and the decline in UK airport passenger volumes.

Peel Hunt also downgraded its recommendation for the shares from 'add' to 'hold'.

Market Movers

FTSE 250 (MCX) 19,742.83 0.31%

FTSE 250 - Risers

Sirius Minerals (SXX) 5.49p 17.46%
Genus (GNS) 3,612.00p 5.74%
TI Fluid Systems (TIFS) 205.50p 5.17%
Senior (SNR) 151.90p 4.69%
Hill & Smith Holdings (HILS) 1,440.00p 4.65%
Telecom Plus (TEP) 1,400.00p 4.63%
Cineworld Group (CINE) 139.60p 4.22%
Pennon Group (PNN) 1,181.50p 3.59%
Fisher (James) & Sons (FSJ) 1,892.00p 3.50%
Trainline (TRN) 491.50p 3.36%

FTSE 250 - Fallers

Signature Aviation (SIG) 266.00p -6.11%
Restaurant Group (RTN) 93.05p -5.34%
Hammerson (HMSO) 191.20p -4.73%
William Hill (WMH) 139.75p -4.48%
Travis Perkins (TPK) 1,413.50p -4.01%
SIG (SHI) 58.35p -3.87%
Man Group (EMG) 144.65p -3.76%
Playtech (PTEC) 233.50p -3.71%
Vesuvius (VSVS) 415.00p -3.62%
Tullow Oil (TLW) 31.41p -3.59%