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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

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

(Sharecast News) - FTSE 250 (MCX) 20,368.09 -1.14%

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%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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