FTSE 250 movers: Polypipe rises; SSP under the cosh

London’s FTSE 250 was down 0.1% at 20,973.26 in afternoon trade on Thursday.

SSP was under the cosh after the Upper Crust and Ritazza owner said it is considering debt and equity funding options.

The company - which runs outlets mostly at train stations and airports - said that it is confident in the medium-term recovery of the travel market, but there remains significant uncertainty over the Covid-19 pandemic and related travel restrictions.

Mitchells & Butlers and JD Wetherspoon were both weaker after US private equity firm Platinum said it will not be making a firm offer for fellow pub group Marston’s.

On the upside, Polypipe was the top gainer after it raised around £96.3m in a placing to help fund the £210 acquisition of magnetic filters maker ADEY.

The piping manufacturer placed just over 18.7 million shares at 515p each. This is a 0.2% premium to the closing mid-market share price of 514 pence on 10 Thursday. Polypipe said it was pleased by the “strong support” it had received from its existing shareholders and new investors.

Royal Mail was also trading up after saying it expects full-year group adjusted profit to be "well in excess" of £500m after a strong rise in parcel revenues in Christmas period. The company forecast 2020-21 revenue significantly beyond the top end of the £380m to £580m range guided in November after third quarter parcel revenues grew 43.3% to £3.8bn.

FTSE 250 - Risers

Polypipe Group (PLP) 561.00p 9.14%
Royal Mail (RMG) 449.20p 4.54%
Spirent Communications (SPT) 256.50p 4.48%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 432.00p 2.37%
Network International Holdings (NETW) 354.60p 2.37%
Games Workshop Group (GAW) 10,430.00p 2.36%
Hays (HAS) 154.20p 2.32%
Britvic (BVIC) 811.00p 2.27%
St. Modwen Properties (SMP) 389.50p 2.23%
OSB Group (OSB) 426.20p 1.86%

FTSE 250 - Fallers

SSP Group (SSPG) 278.20p -12.24%
National Express Group (NEX) 277.40p -6.16%
Hammerson (HMSO) 21.51p -6.07%
Mitchells & Butlers (MAB) 339.50p -4.77%
Petrofac Ltd. (PFC) 116.15p -4.64%
WH Smith (SMWH) 1,570.00p -3.86%
Watches of Switzerland Group (WOSG) 631.00p -3.52%
Cineworld Group (CINE) 73.56p -3.46%
Ferrexpo (FXPO) 307.20p -3.46%
Wetherspoon (J.D.) (JDW) 1,209.00p -3.36%