FTSE 250 movers: Games Workshop hits record high; CMC Markets slides again
FTSE 250 (MCX) 20,608.75 1.27%
Shares in Warhammer maker Games Workshop hit a record high on Friday after the company lifted half-year guidance on the back of better-than-expected trading in the last two months.
In a typically brief trading update, the company on Friday forecast pre-tax profit of at least £120m for the six months to December 3, compared with £96.1m a year earlier. Core revenue was estimated at not less than £260m and licensing revenue of at least £30m.
Clarksons shares rallied on Friday as Berenberg started coverage of the shipping services firm with a ‘buy’ rating and 5,075p price target.
It said Clarksons holds an unrivalled market position globally, with a top-two presence across all of its core markets.
"Its highly diversified model has seen revenues grow by a 10.5% compound annual growth rate since 2006, command-adjusted EBIT margins over 15% and benefit from high-cash conversion," Berenberg said.
"We do not believe that its market position, nor the growth catalysts at play, are sufficiently reflected in the current valuation."
CMC Markets continued their poor run from Thursday despite the company swinging to an interim pre-tax profit of £49.6m from a loss of £2m a year earlier.
Market Movers
Games Workshop Group (GAW) 13,510.00p 15.37%
Clarkson (CKN) 3,915.00p 8.75%
Ithaca Energy (ITH) 114.80p 5.32%
ITV (ITV) 64.75p 4.35%
Future (FUTR) 893.00p 4.20%
Breedon Group (BREE) 469.00p 3.76%
Oxford Instruments (OXIG) 2,095.00p 3.71%
Vesuvius (VSVS) 412.00p 3.65%
Rotork (ROR) 329.80p 3.45%
PureTech Health (PRTC) 167.40p 3.33%
FTSE 250 - Fallers
CMC Markets (CMCX) 268.50p -6.93%
W.A.G Payment Solutions (WPS) 80.00p -5.88%
Close Brothers Group (CBG) 207.00p -3.45%
Foresight Environmental Infrastructure Limited (FGEN) 76.00p -2.19%
Fidelity China Special Situations (FCSS) 207.50p -1.89%
Investec (INVP) 601.00p -1.72%
Bridgepoint Group (Reg S) (BPT) 336.80p -1.58%
IG Group Holdings (IGG) 934.50p -1.37%
SDCL Energy Efficiency Income Trust (SEIT) 51.60p -1.34%
GCP Infrastructure Investments Ltd (GCP) 72.10p -1.23%