FTSE 250 movers: Tui slumps; PageGroup gains on update

(Sharecast News) - London's FTSE 250 was down 0.2% at 22,194.61 in afternoon trade on Friday.
Tui slumped after the travel company said it was raising up to €400m (£348m) by selling convertible bonds to strengthen its finances during continuing travel restrictions caused by the Covid-19 crisis.

4Imprint was also under the cosh after Berenberg cut its price target on the shares to 2,300p from 2,500p.

Babcock fell following a report the defence contractor is bracing for a big writedown.

According to the Financial Times, Babcock is preparing to write down the value of its assets by several hundred million pounds as the new chief executive looks to draw a line under previous management.

On the upside, PageGroup surged as the recruiter said improving trading made it more confident about the outlook and reported a 2% increase in first-quarter profit. Peer Hays also gained.

Hilton Food was a high riser after RBC Capital Markets upgraded the shares to 'outperform' from 'sector perform', hiking the price target to 1,500p from 1,200p as it said the stock's valuation looks compelling.

FTSE 250 - Risers

Pagegroup (PAGE) 548.00p 9.49%
Caledonia Investments (CLDN) 2,850.00p 5.36%
OSB Group (OSB) 486.40p 3.84%
Hilton Food Group (HFG) 1,238.00p 3.51%
Herald Investment Trust (HRI) 2,290.00p 3.15%
Future (FUTR) 2,156.00p 2.67%
Hays (HAS) 162.20p 2.53%
Kainos Group (KNOS) 1,634.00p 2.13%
Softcat (SCT) 1,931.00p 2.12%
Impax Environmental Markets (IEM) 476.50p 2.03%

FTSE 250 - Fallers

Ferrexpo (FXPO) 357.40p -7.46%
TUI AG Reg Shs (DI) (TUI) 375.50p -5.46%
4Imprint Group (FOUR) 2,440.00p -5.06%
Tullow Oil (TLW) 46.04p -3.44%
Babcock International Group (BAB) 229.30p -3.25%
Restaurant Group (RTN) 125.00p -3.10%
Shaftesbury (SHB) 625.50p -2.65%
FirstGroup (FGP) 94.60p -2.62%
Capital & Counties Properties (CAPC) 175.80p -2.60%
Hochschild Mining (HOC) 203.60p -2.58%