FTSE 250 movers: CMC gains on update; China-related stocks slide

CMC Markets gained as it said net operating income for the first half was expected to have risen 45% on the prior year to £180m and that it expects to have swung to a pre-tax profit of £51m from a loss of £2m.

The FTSE 250 company said that for the six months ended 30 September, it expected net operating income to rise 45% to £180m, compared to £123m in the same period last year.

Operating costs, excluding variable remuneration and non-recurring charges, were expected to decrease by 7% to £113m from £122m a year earlier.

As a result, CMC said it anticipated a profit before tax of around £51m, swinging from a £2m loss in the prior year.

The board said the strong performance reflected the company's focus on expanding its B2B segment and maintaining high levels of client trading activity.

CMC said it continued to enhance its product offerings, including the expansion of cash equities and options, and plans to launch cash ISAs in the UK.

Additionally, it said the onboarding of Revolut clients had begun, with a growing number of users actively trading on the platform.

CMC said its interim results were set to be released on 21 November.

Shares in cruise line operator Carnival also made strong gains, rising 5.64%.

Shares in China-related trusts were lower after a share fall on the Shanghai market overnight as investors worried about the lack of follow-up on government stimulus measures.

Asia Dragon Trust and Fidelity China Special Situations both fell in response.

FTSE 250 - Risers

Carnival (CCL) 1,367.50p 5.64%
IP Group (IPO) 51.10p 4.93%
St James's Place (STJ) 756.00p 4.35%
Genus (GNS) 2,140.00p 3.88%
Burberry Group (BRBY) 667.80p 3.73%
Petershill Partners (PHLL) 213.00p 3.65%
Ocado Group (OCDO) 409.00p 3.57%
Genuit Group (GEN) 480.00p 3.23%
SSP Group (SSPG) 165.30p 3.18%
Bloomsbury Publishing (BMY) 684.00p 3.01%

FTSE 250 - Fallers

Pennon Group (PNN) 547.50p -2.06%
Fidelity China Special Situations (FCSS) 220.50p -1.56%
PRS Reit (The) (PRSR) 104.60p -1.32%
Asia Dragon Trust (DGN) 431.00p -1.15%
Pacific Horizon Inv Trust (PHI) 601.00p -0.99%
NextEnergy Solar Fund Limited Red (NESF) 77.05p -0.96%
Helios Towers (HTWS) 108.00p -0.92%
Harbour Energy (HBR) 270.90p -0.91%
European Opportunities Trust (EOT) 850.00p -0.70%
Tritax Eurobox (GBP) (EBOX) 68.70p -0.58%