FTSE 250 movers: Playtech surges on update; Millennium slumps as results disappoint

London’s FTSE 250 index was down 0.3% to 17,098.97 at 1505 GMT as investors digested a hawkish policy statement from the Federal Reserve and mixed US data releases.

Playtech was a high riser after the gambling and software services supplier reported strong trading in both of its divisions in the three months to September. The group said third-quarter revenue surged 47% year-on-year to €170.9m, driven higher by a 23% increase in the gaming department revenue to €143.4m, while the financial segment posted revenue of €27.5m without a prior year comparison.

Henderson Group rallied despite posting a 0.9% drop in third-quarter assets under management. AuM stood at £81.5bn at 30 September, down £0.7bn from the £82.1bn at 30 June. This was despite net inflows in the quarter of £1.3bn, of which the positive was from retail and a £0.2bn outflow from institutional clients, with the net flow down from £3.6bn inflow in the first and £2.0bn in the second.

St Modwen Properties advanced after Nationwide revealed UK house prices rose 3.9% in the year to October, compared to expectations for a 3.8% gain in line with the previous month. Compared to a month ago, prices rose 0.6% in October, more than the 0.5% estimated.

Millennium & Copthorne Hotels was under pressure after it posted lower revenue and profit for the third quarter due to weaker performances in Singapore and Rest of Asia. With revenue per available room down 0.1% in the quarter to £77.66, group revenues for the quarter were down 2.8% to £211m, meaning for nine months it was up 3%.

International Personal Finance was weaker after RBC Capital Markets cut its price target on the stock to 360p from 390p as it made material reductions to forecasts which assume the best case scenario regarding the company’s ability to mitigate the incoming regulatory changes in Poland. “We believe the outlook in Poland remains uncertain and regulatory and execution risk remain high,” it said.

Technology group Laird was also on the back foot after it unveiled plans to restructure its operating model, as it said sterling-denominated revenue rose in the third quarter. In the three months to 30 September, the company said revenue in sterling grew 7% year-on-year to £160m, while revenue in dollars declined 1% to $248m. On an organic basis in constant currency, dollar-denominated revenue rose 1% year-on-year.

Risers

Playtech (PTEC) 859.00p 8.39%
Ocado Group (OCDO) 383.70p 6.61%
Allied Minds (ALM) 470.00p 4.44%
Henderson Group (HGG) 288.40p 2.31%
Sophos Group (SOPH) 261.80p 2.15%
Euromoney Institutional Investor (ERM) 965.00p 2.12%
Big Yellow Group (BYG) 757.50p 1.75%
Worldwide Healthcare Trust (WWH) 1,830.00p 1.67%
St. Modwen Properties (SMP) 444.10p 1.62%
Restaurant Group (RTN) 717.50p 1.49%

Fallers

Premier Oil (PMO) 68.90p -5.49%
TalkTalk Telecom Group (TALK) 239.20p -5.08%
Nostrum Oil & Gas (NOG) 432.90p -4.63%
Millennium & Copthorne Hotels (MLC) 492.60p -4.35%
International Personal Finance (IPF) 376.40p -3.96%
Laird (LRD) 336.30p -3.91%
Centamin (DI) (CEY) 66.50p -3.48%
Vedanta Resources (VED) 483.60p -3.22%
Hunting (HTG) 362.50p -3.20%
Home Retail Group (HOME) 108.20p -3.13%