FTSE 250 movers: Tui flies high

FTSE 250: 18,709.56, +0.58% at 1330 GMT.

Tui Group shares surged as the company released and unexpected trading update, saying it remained on track for a strong summer on Thursday, sending shares in the German travel giant higher.

The firm said it had seen strong demand across all its markets this Easter, with the Canary Islands, Turkey, Balearics, mainland Spain and Greece especially popular.

A total of more than 500,000 customers will be on holiday with Tui over Easter, the firm noted, with a forecast load factor of around 95% in line with pre-pandemic levels.

Sebastian Ebel, chief executive, said: "Booking momentum remains encouraging, and the travel trends and strong demand for the Easter holidays are a healthy signal for the coming summer.

"Our products and brand are popular and in high demand in the UK, Germany, Netherlands, Belgium [and] Switzerland. Based on trends to date, we continue to anticipate capacity to be close to pre-pandemic levels.

"We expect a good summer 2023."

Tui said customers were continuing to book holidays, despite the cost of living crisis and uncertain economic outlook, but were booking at shorter notice, and favouring package and all-inclusive deals.

Ferrexpo more than doubled iron ore pellet production in the first quarter, driven by an improvement in the supply of electricity to operations in Ukraine, which enabled the restart of a second pelletiser line in late February 2023.

Production for the three months to March was 0.90 million tonnes compared with 0.42 million tonnes in the prior quarter, but still 65% lower year on year.

“The group intends to continue to operate with between one and two pellet lines in the coming quarter, in line with 1Q 2023, assuming no further material changes to the operating environment and logistics availability in Ukraine,” Ferrexpo said on Thursday.

FTSE 250 - Risers

TUI AG Reg Shs (DI) (TUI) 615.40p 10.45%
Ferrexpo (FXPO) 115.40p 4.34%
Tritax Eurobox (GBP) (EBOX) 63.20p 3.44%
Primary Health Properties (PHP) 104.00p 3.28%
Assura (AGR) 50.60p 3.27%
TR Property Inv Trust (TRY) 283.00p 3.10%
Tritax Big Box Reit (BBOX) 143.70p 3.08%
Shaftesbury Capital (SHC) 113.80p 3.08%
Supermarket Income Reit (SUPR) 87.20p 3.07%
Diversified Energy Company (DEC) 97.55p 3.06%

FTSE 250 - Fallers

Man Group (EMG) 207.20p -4.03%
Abrdn Private Equity Opportunities Trust (APEO) 420.00p -3.67%
IMI (IMI) 1,419.00p -3.21%
Baltic Classifieds Group (BCG) 147.60p -3.15%
Vietnam Enterprise Investments (DI) (VEIL) 565.00p -2.75%
Travis Perkins (TPK) 883.80p -2.71%
International Public Partnerships Ltd. (INPP) 144.40p -2.70%
Howden Joinery Group (HWDN) 646.80p -2.68%
Bakkavor Group (BAKK) 100.50p -2.43%
W.A.G Payment Solutions (WPS) 92.60p -2.32%