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(Sharecast News) - London's FTSE 250 was 1.1% higher at 24,334.05 in afternoon trade on Thursday.
Bytes Technology surged to the top of the index as it lifted its FY27 outlook following a better-than-expected performance in the first half of the year. In an update for the year to the end of August, the software, security, AI and cloud services specialist said the momentum from the second half of 2026 had carried over into the first half of FY27.
Gross invoiced income for the period was estimated to have increased by around 19% year-on-year, with gross profit up around 18% and operating profit 6% higher.
Bytes said the operating profit performance reflects the impact of cost normalisation previously communicated. "This reflected higher technology costs linked to strategic projects and a return to more normalised bonus levels," it said.
As a result of its strong first-half performance, Bytes now expects full-year gross profit growth in the low to mid-teens, with low to mid single-digit operating profit growth. Broker Shore Capital said previous market expectations were for high single-digit gross profit growth and broadly flat to low single-digit operating profit growth.
Man Group rallied after UBS upgraded the stock to 'buy' from 'neutral' and lifted the price target to 365p from 335p as it pointed to a solid performance from AHL, the company's suite of trend-following funds.
"We believe EMG's share price does not reflect the recent positive performance across its AHL strategies (+7%) over the past six weeks," UBS said. "In our view, this offers an attractive entry point as we expect material upgrades to consensus EPS with Q3 coming to a close at month end."
In the longer term, UBS said it views Man Group's business model positively and thinks the company, through its technology, has a sustainable competitive advantage over peers.
Unite Group was in the red as the student accommodation provider said 95% of its beds were now reserved for the 2026/27 academic year, and reiterated full‑year earnings guidance.
FTSE 250 - Risers
Bytes Technology Group (BYIT) 450.00p 12.00%
Pan African Resources (PAF) 127.70p 5.97%
Man Group (EMG) 333.80p 5.56%
Ocado Group (OCDO) 225.40p 5.53%
Taylor Wimpey (TW.) 80.24p 5.22%
Seraphim Space Investment Trust (SSIT) 189.20p 4.53%
Wizz Air Holdings (WIZZ) 996.00p 4.18%
Bridgepoint Group (Reg S) (BPT) 297.20p 4.06%
North Atlantic Smaller Companies Inv Trust (NAS) 412.00p 4.04%
Endeavour Mining (EDV) 4,662.00p 3.28%
FTSE 250 - Fallers
Foresight Group Holdings Limited NPV (FSG) 445.00p -4.30%
Hansa Investment Company Limited (DI) (HAN) 326.00p -3.55%
Unite Group (UTG) 474.40p -2.35%
Energean (ENOG) 777.50p -2.20%
THG (THG) 26.36p -1.93%
Utilico Emerging Markets Ltd (DI) (UEM) 274.00p -1.79%
Vistry Group (VTY) 276.20p -1.71%
Currys (CURY) 148.20p -1.59%
Trustpilot Group (TRST) 218.80p -1.53%
Patria Private Equity Trust (PPET) 592.00p -1.33%
