FTSE 250 movers: Gambling stocks fall, TI Fluid Systems climbs

London's second-tier was 0.35% higher at 20,230.47 in afternoon trade on Tuesday, with Rank Group and William Hill leading the index lower.

Oil Equipment, Services & Distribution

4,928.34

16:30 18/12/24

0.00%

0.00

Wood Group (John)

65.50p

12:34 24/12/24

0.08%

0.05p

The gambling stocks were down for the second day running after MPs recommended curbs on online casino games.

Shares of James Fisher and Sons slumped after the marine services provider said it had been hit by a cyber security attack.

Ascential took a hit after Barclays cut its price target, while Babcock was also under pressure after analysts from the bank initiated the stock at 'underweight'.

Dixons Carphone was lower after analysts at RBC Capital Markets downgraded it to 'sector perform' from 'outperform', as they argued that the stock's valuation is less compelling after a recent run higher in the shares.

The analysts said the retailer's performance was likely to have softened in the second quarter due to tough sales comparatives, a soft late August bank holiday period and some margin pressure due to price cuts in computing.

Up at the other end of the index, TI Fluid Systems led the risers ahead of the release of its third quarter trading statement later this week, while John Wood Group climbed after Goldman Sachs raised its rating of the stock from 'sell' to 'neutral'.

Weir Group climbed even as it issued a profits warning for its oil and gas division after US customers deferred orders in the third quarter.

Peel Hunt analysts said: "The Weir Q3 update reads much as expected with Minerals and ESCO trading in-line with no change to guidance, while Oil & Gas has had a tough Q3, and Q4 will be even tougher. The share price reaction will be an interesting one given the recent theme of 'looking through'."

Finally, promotional products direct marketer 4imprint Group was in the green a day after it reported that demand activity remained "robust" in the second half and sounded an upbeat note on full-year trading.

Market Movers

FTSE 250 (MCX) 20,230.47 -0.10%

FTSE 250 - Risers

TI Fluid Systems (TIFS) 202.00p 4.12%
Oxford Instruments (OXIG) 1,384.00p 3.59%
Aston Martin Lagonda Global Holdings (AML) 434.10p 3.11%
Bakkavor Group (BAKK) 123.20p 3.01%
Wood Group (John) (WG.) 376.80p 2.92%
Kaz Minerals (KAZ) 513.60p 2.74%
Weir Group (WEIR) 1,471.00p 2.69%
4Imprint Group (FOUR) 3,100.00p 2.65%
Softcat (SCT) 1,029.74p 2.56%
Morgan Advanced Materials (MGAM) 253.40p 2.18%