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FTSE 250 movers: Marshalls rallies; Wizz hit by downgrade
(Sharecast News) - London's FTSE 250 was down 1.3% at 17,453.10 in afternoon trade on Wednesday. Marshalls was the standout gainer on the index as it backed its full-year expectations despite reporting a dip in revenue for the nine months to the end of September.
Persimmon, Bellway and Crest Nicholson all fell as Barratt Developments said it remains on track to hit targeted home completions but that the outlook for the year "remains uncertain".
The sector was also dented after a hotter-than-expected UK inflation print raised expectations that interest rates will need to remain elevated.
888 was weaker after the William Hill and Mr Green owner posted a slump in third-quarter revenues as it took a hit from new gambling regulations and customer-friendly results.
Wizz Air flew lower with the rest of the sector after United Airlines said it was forecasting weaker earnings for the fourth quarter due to higher costs.
The shares were also hit by a rating downgrade at Citi. The bank said: "The recent engine-related bottlenecks will impact circa 4% of short haul capacity, and the most exposed is Wizz, with c.23% exposure of current capacity.
"We downgrade Wizz to sell, given the impact on capacity ramp-up will result in unit cost pressure."
FTSE 250 - Risers
Marshalls (MSLH) 206.80p 4.44% Hipgnosis Songs Fund Limited NPV (SONG) 71.50p 3.62% Digital 9 Infrastructure NPV (DGI9) 41.45p 3.11% Just Group (JUST) 76.70p 2.54% PureTech Health (PRTC) 173.00p 2.00% CAB Payments Holdings (CABP) 221.25p 1.96% Pantheon International (PIN) 305.50p 1.83% Apax Global Alpha Limited (APAX) 168.60p 1.81% Jupiter Fund Management (JUP) 79.85p 1.40% Energean (ENOG) 931.50p 1.31%
FTSE 250 - Fallers
Persimmon (PSN) 998.00p -6.69% Quilter (QLT) 79.05p -6.00% Bellway (BWY) 2,114.00p -5.37% Crest Nicholson Holdings (CRST) 164.80p -5.29% IP Group (IPO) 47.20p -5.03% 888 Holdings (DI) (888) 81.55p -4.90% Ninety One (N91) 162.70p -4.57% Foresight Group Holdings Limited NPV (FSG) 365.00p -3.95% Workspace Group (WKP) 468.80p -3.82% Wizz Air Holdings (WIZZ) 1,633.50p -3.69%
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