FTSE 250 movers: TI Fluid surges on divi hike; Financials out of favour
Shares in automotive sector player TI Fluid Systems surged on Tuesday as the company more than doubled its dividend and posted a surge in earnings.
The stock was up 15% in afternoon trade after first-half adjusted EBIT increased 58% to €131.9m, helping the company to raise its full-year guidance for profit margins. Investors were also pleased by a first-half dividend of €0.23 cents per share (up from €0.10 last year) and the company’s stated intention to target “progressive annual growth” in future shareholder payouts.
Quilter’s share price jumped 14% after the wealth manager reported a 25% jump in adjusted profits in its first half and an increase to its interim dividend.
Building materials group SIG edged higher after sticking to its full-year forecasts despite a challenging start to the year. The company said the second half is expected to benefit from various productivity initiatives and full-year profits are still poised to be in line with recent guidance.
A raft of financial services stocks were on the decline in afternoon trade, including Vanquis Banking Group, Close Brothers, Liontrust Asset Management and Jupiter Fund Management.
Mining and oil stocks, as well as those in adjacent sectors, were also in the red as commodity prices were hit by weaker-than-expected trade data from China softened the outlook for demand. Centamin, Ferrexpo and Wood Group were all under pressure.
Market Movers
FTSE 250 (MCX) 18,841.44 -0.11%
FTSE 250 - Risers
TI Fluid Systems (TIFS) 149.80p 15.41%
Quilter (QLT) 80.70p 13.18%
Lancashire Holdings Limited (LRE) 606.00p 3.59%
Baltic Classifieds Group (BCG) 204.50p 2.66%
Dunelm Group (DNLM) 1,180.00p 2.61%
Greggs (GRG) 2,596.00p 2.53%
Hilton Food Group (HFG) 705.00p 2.17%
Urban Logistics Reit (SHED) 119.60p 2.05%
Scottish American Inv Company (SAIN) 513.00p 1.99%
HGCapital Trust (HGT) 402.00p 1.90%
FTSE 250 - Fallers
Helios Towers (HTWS) 82.45p -4.13%
Aston Martin Lagonda Global Holdings (AML) 355.60p -3.74%
Vanquis Banking Group 20 (VANQ) 118.80p -3.41%
Capita (CPI) 19.77p -2.80%
Future (FUTR) 744.50p -2.68%
Discoverie Group (DSCV) 758.00p -2.57%
Virgin Money UK (VMUK) 168.55p -2.54%
TUI AG Reg Shs (DI) (TUI) 579.00p -2.36%
Close Brothers Group (CBG) 844.50p -2.20%
Man Group (EMG) 215.70p -2.09%