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FTSE 250 movers: Kainos, Domino's and mining stocks surge
(Sharecast News) - The FTSE 250 was trading in positive territory on Monday, with impressive gains from Kainos, precious metals stocks and Domino's Pizza Group offsetting weakness in the luxury sector. Kainos was trading over 20% higher after the IT services provider said it now anticipates full-year revenues to be at the upper end of consensus forecasts, driven by stronger sales in the first half.
The company was equally as bullish in its outlook, saying: "Backed by a robust backlog, healthy pipeline, solid balance sheet, disciplined capital allocation, and strong cash flow, we have a firm foundation from which to drive long-term shareholder value."
Precious metals miners Endeavour and Hochschild surged 8% and 5%, respectively, as gold prices neared a record high, while silver hit a 14-year high.
Domino's Pizza Group rallied 8% after it announced a £20m share buyback, taking advantage of a big plunge in its share price over recent weeks. It also said that full-year expectations remain unchanged, though net debt is now expected to be higher than previously expected.
Heading the other way were luxury peers Burberry and Watches of Switzerland, which were among the worst performers on the second-tier index, extending declines made on Friday.
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