FTSE 250 movers: TI's shares electric while Hill & Smith suffers roadside woes
London's second-tier index was up 0.40% at 20,758.48 in afternoon trade on Wednesday.
Automotive fluid storage company TI Fluid Systems was the top riser after reporting revenue growth of 4.5% period-over-period at constant currency for the first six months of the year.
The company attributed its first-half performance to the successful execution of its hybrid electric vehicle (HEV) and electric vehicle (EV) strategy, which had created further organic growth opportunities.
Temporary power generation firm Aggreko was also enjoying a fruitful day, its shares rising by 4.38% in afternoon trading.
Satellite operator Inmarsat meanwhile was boosted after its survey of 9,300 airline passengers found that 55% now view in-flight WiFi connectivity as "crucial".
The firm also benefited from Morgan Stanley upping its target price, with the broker pointing out that there are variables in the pipeline that could make the company's shares look cheap.
Motorway safety barrier manufacturer Hill & Smith was the top faller on Wednesday afternoon after the company reported first half results were hit by project delays, bad weather and Brexit uncertainty.
Management said the high cost of commodities such as zinc, which is the key component for the group's galvanising businesses, drove the company's "disappointing" first half performance.
The firm's interim pre-tax profits fell 14% to £28.9m over the period and it warned that it would not make up the shortfall in the full year.
Spire Healthcare Group also suffered a dip after Berenberg downgraded its stance on the company from 'buy' to 'sell' and dramatically slashed the target price for the shares from 290p top 120p, following a profit warning from the firm on Monday.
Bellway on the other hand reported strong full-year financials, with completions of new residential dwellings rising 6.9% from 2017 to 10,307, while revenue increased by 16% to almost £3bn.
The housebuilder also received a positive endorsement from analysts at Peel Hunt, who reiterated their 'buy' recommendation for the stock and set a target price of 3,810p.
However, the company's shares were on the back foot on the back of management's warning that house price growth in the UK was slowing.
JP Morgan reiterated its 'overweight' rating of Meggitt and raised its target price to 670p after the firm reported it was in good shape to meet full-year guidance despite profits falling 39% to £105.2m at the half-year stage as a result of lower gains from disposals.
Shares of BBA Aviation were also climbing higher, after being upgraded to 'buy' at Investec.
Market Movers
FTSE 250 (MCX) 20,758.48 0.40%
FTSE 250 - Risers
TI Fluid Systems (TIFS) 266.00p 6.40%
Aggreko (AGK) 857.60p 4.38%
Inmarsat (ISAT) 559.00p 3.56%
Synthomer (SYNT) 565.50p 3.48%
AA (AA.) 114.25p 3.16%
Essentra (ESNT) 484.60p 3.11%
Kaz Minerals (KAZ) 629.60p 3.08%
FDM Group (Holdings) (FDM) 1,016.00p 2.52%
BBA Aviation (BBA) 306.80p 2.47%
Meggitt (MGGT) 574.40p 2.43%
FTSE 250 - Fallers
Hill & Smith Holdings (HILS) 1,163.00p -20.88%
Spire Healthcare Group (SPI) 173.30p -8.69%
UDG Healthcare Public Limited Company (UDG) 754.50p -7.93%
Just Group (JUST) 95.50p -3.54%
Bellway (BWY) 2,896.00p -2.72%
Polypipe Group (PLP) 359.40p -2.65%
On The Beach Group (OTB) 421.17p -2.28%
Contour Global (GLO) 236.00p -1.67%
IntegraFin Holding (IHP) 374.00p -1.58%
Centamin (DI) (CEY) 112.00p -1.54%