FTSE 250 movers: Finablr falls, Cineworld climbs

London's FTSE 250 tumbled 1.33% higher to 21,629.65 in afternoon trade on Tuesday, with Finablr leading the index downward.

Household Goods & Home Construction

10,742.65

12:54 24/12/24

-2.08%

-228.46

Real Estate Investment & Services

2,455.18

12:54 24/12/24

0.60%

14.61

Shares of Boeing supplier Senior fell after the US aircraft maker - one of its key clients - said that it was suspending production of its controversial 737 MAX passenger jet, though the engineering group did reiterate full-year guidance.

Banks, housebuilders and stocks with exposure to UK properties were generally lower following news of the Prime Minister's plans to block any further Brexit extensions, with OneSavings Bank, Crest Nicholson, CLS Holdings and Hammerson all featuring among the top fallers.

DeVere Group chief executive Nigel Green said: "The task ahead is monumental. The time frame in which to complete it is narrow. Failure to agree a free trade deal by the end of next year will mean the UK crashing out of the EU and all the far-reaching negative economic implications, including the likelihood of a recession."

"With such uncertainty, following the election bounce, in 2020 investor confidence in the UK is likely to remain subdued and Boris Johnson’s Brexit stance could be a major source of volatility in financial markets."

Hunting gushed lower as it said expectations for annual profit were under threat from a sharpening slowdown in the US onshore oil and gas market as the company approaches its year end.

Fellow oilfield services firm Petrofac also retreated as it said full-year group revenue was expected to be approximately $5.5bn and that it continues to anticipate a decrease in group revenue in 2020, reflecting low new order intake in recent years.

Up at the other end of the index, Cineworld rose for a second successive session after on Monday announcing that it had agreed to buy Canadian cinema chain Cineplex for $2.1bn.

Market Movers

FTSE 250 (MCX) 21,629.65 -1.33%

FTSE 250 - Risers

Future (FUTR) 1,394.00p 4.03%
Wetherspoon (J.D.) (JDW) 1,704.00p 3.09%
Cineworld Group (CINE) 217.20p 2.84%
4Imprint Group (FOUR) 3,150.00p 2.61%
IntegraFin Holding (IHP) 450.50p 2.27%
JPMorgan Emerging Markets Inv Trust (JMG) 1,032.00p 1.78%
Fidelity China Special Situations (FCSS) 226.00p 1.57%
Templeton Emerging Markets Inv Trust (TEM) 822.00p 1.48%
Sophos Group (SOPH) 558.20p 1.45%
Homeserve (HSV) 1,278.00p 1.43%