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FTSE 250 movers: Electrocomponents gains on update, Wizz Air flies higher

Tue, 3rd Oct 2017 14:05


(ShareCast News) - London's FTSE 250 was up 0.5% to 20,053.47 in afternoon trade on Tuesday.

Electrocomponents was on the front foot after saying it expects a 42% increase in profits for the first half as it enjoyed an acceleration in revenue growth and market share in the second quarter and achieved a "modest increase" in gross margin.

Thanks to a 14% increase in revenues in the second quarter that led to 13% growth in the first half, plus "stronger than expected progress" on efforts to stabilise margins and some benefit from currency changes, half year headline profit before tax is now expected to be around 78m, up from 55.1m last time.

Central and Eastern Europe-focused low-cost carrier Wizz Air flew higher after it reported a 26% jump in passenger numbers in September, as the load factor ticked up.

Passenger numbers rose to just over 2.7m from 2.1m in the same month a year ago, while the load factor - which gauges how full the planes are - edged up to 92.9% from 91.6%.

On a rolling 12-month basis, passenger numbers were up 23% to 26.9m in September and the load factor increased to 91.2% from 88.6%.

Risers

IP Group (IPO) 146.30p 3.98%

Tullow Oil (TLW) 186.20p 3.79%

Electrocomponents (ECM) 657.50p 2.98%

Evraz (EVR) 319.60p 2.90%

Provident Financial (PFG) 862.50p 2.68%

Rank Group (RNK) 224.60p 2.32%

Wizz Air Holdings (WIZZ) 3,058.00p 1.93%

Big Yellow Group (BYG) 770.50p 1.92%

Amec Foster Wheeler (AMFW) 515.50p 1.88%

Wood Group (John) (WG.) 687.00p 1.78%

Fallers

Halfords Group (HFD) 341.00p -2.85%

Morgan Advanced Materials (MGAM) 307.90p -2.25%

Nostrum Oil & Gas (NOG) 403.90p -1.97%

Investec (INVP) 538.00p -1.91%

Redefine International (RDI) 38.11p -1.35%

Saga (SAGA) 198.10p -1.20%

Inmarsat (ISAT) 635.00p -1.17%

Electra Private Equity (ELTA) 1,650.00p -1.14%

Syncona Limited NPV (SYNC) 190.00p -1.09%

Polypipe Group (PLP) 421.20p -1.03%




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