FTSE 250 movers: Serco rallies on update; US-exposed stocks hit by hawkish Fed

Serco rallied as it said underlying operating profit rose 9% on the year to £270m in 2024 and upgraded its cash and net debt guidance. The outsourcer also said that its pipeline of new business opportunities was set to end the year at the highest level in more than a decade.

Pennon was also a high riser after South West Water was allowed to hike prices by 23%.

Baillie Gifford US Growth Trust and Edinburgh Worldwide Investment Trust were both lower as a hawkish outlook from the Federal Reserve hit sentiment.

Stocks had kicked the session off with heavy losses, taking their cue from a selloff on Wall Street, after the Fed cut interest rates by 25 basis points on Wednesday, as expected, but also signalled there would be just two rate cuts next year, down from a previous forecast of four.

Market Movers

FTSE 250 - Risers

Serco Group (SRP) 150.00p 8.15%
W.A.G Payment Solutions (WPS) 80.20p 2.82%
IntegraFin Holding (IHP) 348.00p 2.20%
PPHE Hotel Group Ltd (PPH) 1,350.00p 1.89%
Mitchells & Butlers (MAB) 244.00p 1.67%
Energean (ENOG) 986.50p 1.60%
SThree (STEM) 267.00p 1.52%
Patria Private Equity Trust (PPET) 548.00p 1.48%
Just Group (JUST) 162.40p 1.12%
Hilton Food Group (HFG) 920.00p 0.99%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 1,413.00p -5.93%
Dr. Martens (DOCS) 73.20p -4.19%
Indivior (INDV) 906.00p -4.18%
Future (FUTR) 951.50p -3.99%
Oxford Instruments (OXIG) 2,085.00p -3.47%
Workspace Group (WKP) 490.50p -3.44%
Allianz Technology Trust (ATT) 411.00p -3.29%
Investec (INVP) 543.50p -3.29%
Baillie Gifford US Growth Trust (USA) 281.00p -3.27%
Edinburgh Worldwide Inv Trust (EWI) 188.00p -3.19%