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FTSE 250 movers: Johnson Matthey and Breedon impress with outlooks
(Sharecast News) - Johnson Matthey was among the best performers of the day on the FTSE 250 after the chemicals group raised the outlook for its full-year underlying operating performance despite posting a drop in first-half sales and profit due to lower precious metal market prices.
For the year to the end of March 2024, the company now expects at least high single digit growth in operating performance at constant precious metal prices and constant currency, up from a previous forecast for at least mid single digit growth. The stock gained 4%.
Also 3% higher was construction materials group Breedon after it hailed a "strong" performance in the 10 months to the end of October and said the outlook for the full year was ahead of expectations.
LXi REIT was on the rise after responding to press speculation, confirming that it was currently under offer and in solicitors' hands regarding the potential sale of 66 Travelodge hotels.
Animal genetics firm Genus declined after saying its ABS division has had "a challenging start" to the year with adjusted operating profits down during the first five months of its fiscal year.
Investors had a muted reaction to a trading update from flow controls specialist Rotork, which reiterated its guidance for the full year. In the ten months to October end, group order intake was up nearly 10%. Also flat was drinks company Britvic after underwhelming with a 5.9% increase in full-year adjusted EBIT.
Residential landlord Grainger gained over 1% after it posted a 7.7% jump in annual rental income, boosted by strong demand for its properties.
Heat treatments firm Bodycote fell nearly 2% after reporting that year-to-date revenue growth was held back by weakness in emerging markets.
FTSE 250 - Risers
Helios Towers (HTWS) 75.10p 4.38% Johnson Matthey (JMAT) 1,522.00p 4.32% Sirius Real Estate Ltd. (SRE) 89.65p 3.94% Genuit Group (GEN) 321.00p 3.88% Telecom Plus (TEP) 1,640.00p 3.67% Carnival (CCL) 1,045.50p 3.62% Wizz Air Holdings (WIZZ) 1,909.00p 3.55% Big Yellow Group (BYG) 1,091.00p 3.31% Cranswick (CWK) 3,834.00p 3.29% C&C Group (CDI) (CCR) 140.00p 3.09%
FTSE 250 - Fallers
Ceres Power Holdings (CWR) 201.40p -3.73% Crest Nicholson Holdings (CRST) 179.00p -3.30% Harbour Energy (HBR) 218.60p -3.15% Genus (GNS) 2,052.00p -2.84% Diversified Energy Company (DEC) 70.30p -1.75% Bodycote (BOY) 584.50p -1.52% Vistry Group (VTY) 799.50p -1.48% Elementis (ELM) 122.00p -1.13% Direct Line Insurance Group (DLG) 187.65p -1.13% Virgin Money UK (VMUK) 157.40p -1.07%
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