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FTSE 250 movers: Tate & Lyle, B&M both impress with updates
(Sharecast News) - Well-received updates from Tate & Lyle, B&M and FirstGroup were providing a boost to the FTSE 250 on Tuesday, while broker upgrades were giving DiscoverIE and Rotork a lift.
Food ingredients group Tate & Lyle rose strongly after saying it expects to deliver full-year results in line with guidance, with the recently acquired CP Kelco division delivering margin improvements ahead of expectations with the integration of the two companies on track.
Discount retailer B&M also pleased investors with the news that full-year adjusted operating profits should be above the mid-point of its guidance range on the back of productivity gains and a pick-up in underlying sales growth in the fourth quarter.
Similarly, FirstGroup said in an update that it expects full-year adjusted earnings to come in ahead of previous guidance, driven by better-than-expected trading in its rail division and stable performance from its bus operations.
Retail conglomerate Frasers Group gained on news that it has entered a long-term strategic retail agreement with Accent Group to launch and operate Sports Direct across Australia and New Zealand.
Meanwhile, electronic components firm DiscoverIE and Rotork were both benefiting from upgrades by RBC Capital Markets from 'sector perform' to 'outperform'. For DiscoverIE, the broker argued that US tariff and short-cycle demand risks appear to be more than priced in; for Rotork, the broker pointed to the fact the valuation is at the low end of its 10-year range.
Burberry and Watches of Switzerland were the heaviest fallers as investors sold off shares in the luxury sector after LVMH missed forecasts with an unexpected decline in first-quarter sales.
FTSE 250 - Risers
Tate & Lyle (TATE) 530.00p 5.26% Discoverie Group (DSCV) 539.00p 4.66% Crest Nicholson Holdings (CRST) 163.60p 4.14% B&M European Value Retail S.A. (DI) (BME) 310.50p 3.78% W.A.G Payment Solutions (WPS) 66.20p 3.76% Helios Towers (HTWS) 107.20p 3.68% NCC Group (NCC) 134.80p 3.53% Bridgepoint Group (Reg S) (BPT) 260.40p 3.42% AJ Bell (AJB) 418.80p 3.41% Big Yellow Group (BYG) 935.00p 3.31%
FTSE 250 - Fallers
Burberry Group (BRBY) 651.00p -5.16% Watches of Switzerland Group (WOSG) 351.00p -3.15% Raspberry PI Holdings (RPI) 435.50p -2.83% Dr. Martens (DOCS) 51.15p -2.48% THG (THG) 28.98p -1.56% Pollen Street Group Limited (POLN) 682.00p -1.45% SSP Group (SSPG) 142.20p -1.25% Auction Technology Group (ATG) 618.00p -1.12% Oxford Instruments (OXIG) 1,640.00p -0.97% Moonpig Group (MOON) 225.50p -0.88%
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