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FTSE 250 movers: Consumer-facing stocks jump, oil producers track crude lower
(Sharecast News) - The FTSE 250 was being propped up on Wednesday by strong gains in consumer-facing sectors like retail, apparel and travel, partly offset by heavy falls from energy stocks as oil prices dropped.
Pet products retailer and veterinary chain Pets at Home impressed with its full‑year results in which consumer revenues rose 1% to £1.98bn, as 5% growth in the smaller vets division managed to outweigh a 1% slip in the larger retail business.
However, Pets at Home said its retail turnaround plan, which was launched in the third quarter, had begun to deliver improving sales and volume trends through the second half.
Other stocks in the retail sectors such as B&M European Value Retail, Frasers Group, Moonpig and Greggs also rose, along with fashion and apparel groups Dr Martens and Watches of Switzerland, and airline EasyJet as falling oil prices eased concerns of inflationary pressures on consumers.
Brent crude was down 3.1% at $93.64 a barrel, staying below the $100 mark for the third straight session, on the back of hopes that the US and Iran will soon agree on a peace to end the conflict.
As a result, energy groups Ithaca Energy, Harbour Energy, Energean and Diversified Energy Company were the heaviest fallers on the FTSE 250.
Elsewhere, food and beverage products business Tate & Lyle rose after Berenberg hiked its target price on the stock from 464p to 554p, while meat products outfit Cranswick benefited from an RBC Capital Markets upgrade to 'outperform' from 'sector perform'.
Lastly, HICL Infrastructure rose on the back of a stronger annual performance, with net asset value growth supported by portfolio disposals, operational outperformance and active capital allocation.
FTSE 250 - Risers
Pets at Home Group (PETS) 197.20p 6.48% B&M European Value Retail (BME) 179.40p 4.30% Foresight Environmental Infrastructure Limited (FGEN) 79.00p 4.22% Dr. Martens (DOCS) 73.20p 4.13% easyJet (EZJ) 392.00p 4.09% Aston Martin Lagonda Global Holdings (AML) 48.42p 3.99% HGCapital Trust (HGT) 359.50p 3.75% Watches of Switzerland Group (WOSG) 713.00p 3.71% Frasers Group (FRAS) 765.00p 3.52% Breedon Group (BREE) 304.40p 3.40%
FTSE 250 - Fallers
Ithaca Energy (ITH) 225.40p -6.24% Harbour Energy (HBR) 268.60p -3.87% Energean (ENOG) 806.50p -3.76% Diversified Energy Company (DI) (DEC) 1,112.00p -3.30% AJ Bell (AJB) 607.00p -3.19% CMC Markets (CMCX) 378.00p -2.95% Trustpilot Group (TRST) 228.00p -2.80% Drax Group (DRX) 823.00p -2.72% C&C Group (CDI) (CCR) 101.00p -2.70% Kainos Group (KNOS) 842.50p -2.38%
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