FTSE 250 movers: Ninety One rallies after results; M&S pushes higher

(Sharecast News) - London's FTSE 250 was up 0.3% at 16,363.15 in afternoon trade on Wednesday.
Asset manager Ninety One was the standout gainer even as it said assets under management fell 7%, reflecting the impact of the coronavirus pandemic on world financial markets.

Reporting its first set of results since its demerger from Invesco, the company said AUM dropped fell to £103.4bn in the year to March 31 from £111.4bn a year earlier.

Food and clothing retailer Marks & Spencer was in the black after saying full-year profits fell by a fifth as it took a £218m hit from the Covid-19 impact and said no dividend would be paid in 2020/21. The company reported pre-tax profits of £67.2m, down 20% including adjusting items of £335.9m, with £212.8m for costs and stock write downs for Covid-19.

Industrial thread maker Coats Group was up even after it reported a slump in sales as it took a hit from the pandemic.

In an update for the period form 1 January to 30 April, group sales fell 17% year-on-year. April sales were down 50%, meanwhile, as the company had estimates in base scenario, "due to demand and supply impacts from Covid-19 which included circa 15 manufacturing sites under enforced government closure".

William Hill rallied as the bookmaker said it could receive a windfall of up to £150m after the industry won a challenge over sales tax on controversial fixed-odds machines in betting shops.

FTSE 250 - Risers

Ninety One (N91) 209.80p 11.77%
Marks & Spencer Group (MKS) 94.36p 9.98%
Playtech (PTEC) 252.00p 9.09%
Hyve Group (HYVE) 15.66p 7.70%
Coats Group (COA) 46.55p 6.40%
William Hill (WMH) 129.30p 5.98%
Hochschild Mining (HOC) 210.20p 5.68%
Trainline (TRN) 462.60p 5.52%
PureTech Health (PRTC) 248.50p 5.30%
Virgin Money UK (VMUK) 81.06p 4.95%

FTSE 250 - Fallers

Frasers Group (FRAS) 257.00p -6.82%
Unite Group (UTG) 728.00p -6.79%
Shaftesbury (SHB) 519.00p -6.15%
GCP Student Living (DIGS) 114.00p -5.47%
Crest Nicholson Holdings (CRST) 240.00p -4.91%
Micro Focus International (MCRO) 430.90p -4.58%
Oxford Instruments (OXIG) 1,174.00p -4.55%
Bellway (BWY) 2,446.00p -4.00%
McCarthy & Stone (MCS) 66.70p -3.75%
Brewin Dolphin Holdings (BRW) 271.00p -3.73%