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FTSE 250 movers: Close Brothers rockets on Supreme Court ruling; Senior slumps
(Sharecast News) - London's FTSE 250 was up 0.7% at 21,842.02 in afternoon trade on Monday. Close Brothers rocketed after the Supreme Court ruled in favour of banks in the car finance case.
On Friday, the Supreme Court announced in its long-awaited ruling that hidden commissions from lenders to dealers on car loans were not unlawful. The ruling means that millions of motorists will not be able to claim compensation.
Following the ruling, the Financial Conduct Authority said it will consult on running a compensation scheme.
In a statement on Sunday, the FCA estimated that most individuals would probably receive less than £950 in compensation.
Shipping broker Clarkson was also in the black despite reporting weaker interim earnings as US tariffs and an uncertain economic environment continued to hit freight rates.
Russ Mould, investment director at AJ Bell, said: "Clarkson is right at the sharp end of the tariff turmoil given the shipping broker's reliance on global trade so investors will be relieved by its resilient first-half numbers and unchanged full-year guidance.
"Having issued a major profit warning in May after warning about growing risks alongside its full-year results in March, the market is clearly pleased that the outlook has not got worse than it already was.
"Although, a hint of further turbulence is provided by the suggestion results will be weighted towards the second half."
Wizz Air flew higher after July traffic stats showed that passenger numbers rose 6.8% year-on-year.
Auction Technology slid as the online marketplace operator said it had bought Chairish, a US-based marketplace for vintage furniture and art, for $85m.
Senior also lost ground after its first-half revenues missed estimates.
FTSE 250 - Risers
Close Brothers Group (CBG) 481.20p 20.97% Clarkson (CKN) 3,670.00p 7.47% Aston Martin Lagonda Global Holdings (AML) 71.50p 6.64% Ocado Group (OCDO) 343.50p 3.87% Wizz Air Holdings (WIZZ) 1,296.00p 3.43% 4Imprint Group (FOUR) 3,665.00p 3.24% Patria Private Equity Trust (PPET) 540.00p 3.05% Watches of Switzerland Group (WOSG) 336.40p 2.94% W.A.G Payment Solutions (WPS) 84.00p 2.69% Paragon Banking Group (PAG) 913.00p 2.58%
FTSE 250 - Fallers
Auction Technology Group (ATG) 377.50p -21.35% Senior (SNR) 186.60p -3.81% Frasers Group (FRAS) 659.50p -2.73% Burberry Group (BRBY) 1,260.00p -1.87% Ithaca Energy (ITH) 166.10p -1.83% Victrex plc (VCT) 678.00p -1.74% Inchcape (INCH) 675.00p -1.60% Discoverie Group (DSCV) 664.00p -1.48% ITV (ITV) 80.55p -1.47% Foresight Environmental Infrastructure Limited (FGEN) 81.90p -1.44%
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