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FTSE 250 movers: Royal Mail hit by FedEx crossfire; National Express motors
(Sharecast News) - The FTSE 250 was down 0.47% to 18,797.52 at 1440 BST.
Leading the fallers was Royal Mail, where the stock was hammered by the negative read-across in markets from US peer FedEx's decision to withdraw its full-year guidance after Thursday's close.
The US outfit also guided analysts towards fiscal first quarter profits of $3.44 on sales of $23.3bn. That compared to consensus forecasts from FactSet for $5.14 and $23.6bn, respectively.
It cited "macroeconomic weakness" in Asia and "service challenges" in Europe.
FedEx said volumes fell around the world during its first quarter, worsening towards the end of the three-month stretch and business conditions were expected "to further weaken" in the second quarter.
Sales were seen coming in at between $23.5-24.0bn in the second quarter for earnings per share of $2.75 "or greater".
Analysts on the Street on the other hand had penciled-in sales of $24.9bn and EPS of $5.48.
The company was next due to announce results on 22 September, when it could update its forecasts and outline cost-cutting plans.
Bus operator National Express shares continued to benefit from the company's ticket-booking deal with taxi app Uber, which is looking to expand into coach and train travel.
The sell-off in Darktrace stock continued on Friday the US private equity firm Thoma Bravo walked away from a potential takeover of the British artificial intelligence and cybersecurity company.
FTSE 250 - Risers
National Express Group (NEX) 197.70p 5.95% Jupiter Fund Management (JUP) 108.20p 5.56% IWG (IWG) 142.85p 4.84% Provident Financial (PFG) 188.20p 3.98% Polymetal International (POLY) 230.00p 3.14% Currys (CURY) 64.65p 3.03% Hammerson (HMSO) 21.51p 2.62% Telecom Plus (TEP) 1,774.00p 2.54% FirstGroup (FGP) 121.10p 2.19% UK Commercial Property Reit Limited (UKCM) 67.20p 2.13%
FTSE 250 - Fallers
Royal Mail (RMG) 224.10p -10.32% Darktrace (DARK) 351.80p -8.00% Chrysalis Investments Limited NPV (CHRY) 61.40p -5.68% XP Power Ltd. (DI) (XPP) 1,838.00p -4.87% WH Smith (SMWH) 1,409.50p -3.95% Wizz Air Holdings (WIZZ) 1,997.00p -3.90% Discoverie Group (DSCV) 728.00p -3.83% Aston Martin Lagonda Global Holdings (AML) 173.05p -3.81% Ferrexpo (FXPO) 150.00p -3.41% Biffa (BIFF) 372.40p -3.32%
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