FTSE 250 movers: PageGroup surges on update; Rahtbones in the red

(Sharecast News) - London's FTSE 250 was 0.1% higher at 22,053.45 in afternoon trade on Wednesday. PageGroup surged to the top of the index. The recruiter reported a drop in third-quarter profit as growth in the US and Asia was offset by a more challenging market in Europe, but shares shot up as the decline wasn't as bad as expected.

Group gross profit fell 6.7% from the same period a year earlier to £187.8m. Panmure Liberum said the fall was better than the 8% drop expected by consensus.

Watches of Switzerland also shone on the back of well-received third-quarter numbers from French luxury brand LVMH.

Pets at Home rallied after the Competition and Markets Authority said that vets should be made to publish prices so customers can look around for the best deal, and suggested price caps on prescriptions.

On the whole, the provisional findings of the CMA's two-year investigation and suggested remedies threw up no surprises.

Derren Nathan, head of equity research at Hargreaves Lansdown, said: "The outcome is broadly as expected, but with no major negative surprises should alleviate the uncertainty that's been weighing on consumer and investor sentiment.

"That's seen a share price increase for Pets at Home, with its growing veterinary offer, and a bigger spike for CVS Group, which is more of a pure play on the industry. That said, the line under the matter has only been pencilled in so far. A further consultation is underway and a deadline for publication of the final decision has been set for March 2026."

Rathbones and Jupiter Fund Management both lost ground after updates.

Wizz Air flew lower after Morgan Stanley initiated coverage of the shares at 'equalweight' with a 1,080p price target, citing limited near-term visibility.

"Near-term profitability is set to be pressured by Pratt & Whitney engine groundings, the exit from Abu Dhabi, and elevated D&A from a fully leased fleet," it said

FTSE 250 - Risers

Pagegroup (PAGE) 246.00p 6.16% THG (THG) 43.84p 5.12% Watches of Switzerland Group (WOSG) 395.80p 5.02% Dr. Martens (DOCS) 92.50p 4.52% British Land Company (BLND) 374.60p 3.75% Pets at Home Group (PETS) 221.60p 3.33% Johnson Matthey (JMAT) 2,172.00p 2.74% Discoverie Group (DSCV) 596.00p 2.41% TBC Bank Group (TBCG) 4,315.00p 2.37% Volution Group (FAN) 673.00p 2.28%

FTSE 250 - Fallers

Rathbones Group (RAT) 1,818.00p -3.82% Wizz Air Holdings (WIZZ) 1,114.00p -2.71% Ibstock (IBST) 126.00p -2.33% Jupiter Fund Management (JUP) 147.80p -2.12% IP Group (IPO) 56.50p -2.07% Morgan Advanced Materials (MGAM) 199.60p -1.96% QinetiQ Group (QQ.) 485.40p -1.94% W.A.G Payment Solutions (EWG) 88.20p -1.78% Pinewood Technologies Group (PINE) 380.00p -1.68% Inchcape (INCH) 705.00p -1.67%