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FTSE 250 movers: SSP surges on India listing; Greggs off the menu
(Sharecast News) - FTSE 250 (MCX) 21,439.19 -1.40%
SSP surged as the hospitality group said its joint-owned Indian operations will be worth up to £1.23bn in a proposed stock market listing in Mumbai as it announced the purchase of an additional stake to give it majority control. The company, which operates convenience food stores and restaurants in travel gateways across 40 countries, plans to list the Travel Food Services joint venture with K Hospitality Corp on 14 July.
Spectris rallied as KKR agreed a deal to the buy precision instrument maker for £4.7bn, trumping a potential offer from rival Advent.
On the downside, Bytes Technology tumbled as it warned that first-half operating profit was set to be "marginally" lower than last year amid a "challenging" macro environment.
Ahead of its annual general meeting, the software, security, cloud and AI services specialist said trading across the first months of the year has been impacted by a challenging macroeconomic environment. This has led to some deferral of customer buying decisions, particularly in the corporate sector.
Bakery chain Greggs slumped as it cautioned that FY25 operating profits may be "modestly below" FY24 despite first-half sales growth.
Greggs said it had made good progress in May but this was followed by slower growth in June as high temperatures affected the UK, increasing demand for cold drinks but reducing overall footfall.
Market Movers
FTSE 250 - Risers
SSP Group (SSPG) 188.20p 8.29% Spectris (SXS) 3,990.00p 4.18% Tate & Lyle (TATE) 540.00p 3.65% Burberry Group (BRBY) 1,246.50p 3.02% Elementis (ELM) 164.20p 2.24% Harbour Energy (HBR) 199.40p 2.20% Bodycote (BOY) 588.50p 2.17% Foresight Environmental Infrastructure Limited (FGEN) 83.00p 1.97% RS Group (RS1) 588.50p 1.73% Carnival (CCL) 1,914.00p 1.59%
FTSE 250 - Fallers
Bytes Technology Group (BYIT) 354.00p -30.38% Greggs (GRG) 1,688.00p -14.53% Bellway (BWY) 2,646.00p -6.77% Softcat (SCT) 1,634.00p -5.39% Grainger (GRI) 211.00p -5.17% Close Brothers Group (CBG) 357.00p -5.15% Computacenter (CCC) 2,328.00p -5.13% Great Portland Estates (GPE) 342.50p -4.86% Big Yellow Group (BYG) 982.00p -4.66% Howden Joinery Group (HWDN) 827.00p -4.50%
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