FTSE 250 movers: Balfour Beatty surges on results; Finablr falls again

(Sharecast News) - London's FTSE 250 was down 1.2% at 17,333.22 in afternoon trade on Wednesday as investors mulled over a surprise rate cut by the Bank of England and the Budget.
Finablr, which shares a co-founder with NMC Health, slumped after the UAE private healthcare operator said on Tuesday that it had identified $2.7bn in additional debt.

Security services company G4S was sharply lower after it posted a drop in full-year pre-tax profit and said it swung to a statutory loss as it took a ?291m charge related to its UK cash business.

Cineworld was on the back foot as RBC Capital Markets downgraded the stock to 'outperform' from 'top pick', slashing the price target to 200p from 300p amid concerns about the impact of the coronavirus.

Hotel group PPHE was also in the red as it updated investors on the impact of the Covid-19 outbreak.

"As has been widely reported in the media and by industry benchmark reports, over recent weeks there has been reduced demand for international travel which has resulted in an increase in cancellations and a slowdown in future bookings across the travel and hotel industry, including the group's estate," it said.

The company said it was too early to provide "any meaningful estimate of quantum" on its earnings for the current financial year given the trajectory and duration of the virus and that its impact remains "highly uncertain".

On the upside, Balfour Beatty surged after it reported an 8% increase in annual operating profit as the infrastructure group increased sales and orders, while Quilter was up on the back of well-received full-year results.

FTSE 250 - Risers

Balfour Beatty (BBY) 253.40p 14.76%
Tullow Oil (TLW) 17.78p 8.74%
Aston Martin Lagonda Global Holdings (AML) 214.10p 8.32%
Spirent Communications (SPT) 221.50p 5.23%
Hill & Smith Holdings (HILS) 1,374.00p 4.89%
Bakkavor Group (BAKK) 92.00p 4.78%
Quilter (QLT) 139.10p 4.74%
Avon Rubber (AVON) 2,360.00p 4.19%
Fisher (James) & Sons (FSJ) 1,836.00p 4.08%
Countryside Properties (CSP) 446.00p 3.96%

FTSE 250 - Fallers

Finablr (FIN) 23.56p -21.36%
G4S (GFS) 108.00p -18.64%
Cineworld Group (CINE) 86.98p -9.41%
Wizz Air Holdings (WIZZ) 3,067.00p -9.15%
Provident Financial (PFG) 319.10p -7.45%
PPHE Hotel Group Ltd (PPH) 1,390.00p -7.33%
Avast (AVST) 349.40p -7.03%
GVC Holdings (GVC) 652.60p -6.24%
Ashmore Group (ASHM) 376.00p -6.23%
Network International Holdings (NETW) 477.50p -6.19%