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(Sharecast News) - Disappointing updates from Telecom Plus, Travis Perkins, Taylor Wimpey and Howden Joinery, and a broker downgrade for SSP saw share prices slide on Tuesday, helping to push the FTSE 250 down 0.5% in afternoon trade.
Telecom Plus was a big mover, dropping 16% as it warned that full-year profits would come in at the bottom end of guidance following reduced energy consumption during an unseasonably warm winter. The company, which trades as Utility Warehouse, saw lower-than-expected growth in energy and organic broadband services, while insurance services have been slow to recover from the temporary pause in new insurance sales in FY25.
Housebuilder Taylor Wimpey dropped 5% after reporting a drop in sales rates over the year-to-date, along with a declining order book and weaker pricing. The company also warned of rising build cost inflation, as energy price pressures build up across the supply chain.
Travis Perkins also fell 5% after the building materials distributor said trading conditions remained challenging in the first quarter as group revenue fell on a like-for-like basis amid subdued construction activity.
Even Howden Joinery was lower despite saying it had made a positive start to 2026, with trading in line with its full-year outlook. The kitchen and joinery supplier said underlying group sales were 3.7% ahead of the previous year in the first 16 weeks of 2026.
Meanwhile, UBS downgraded its rating on SSP, sending shares in the Upper Crust and Millie's Cookies owner tumbling nearly 7%. The stock was cut to 'neutral' from 'buy' and the price target slashed to 180p from 245p as UBS cited persisting uncertainty and a worsening capacity outlook.
On the upside, oil and gas groups Energean and Harbour Energy were putting in small gains as oil prices climbed for the seventh straight trading session. Brent was up 2.8% at $104.57 a barrel.
FTSE 250 - Risers
Watches of Switzerland Group (WOSG) 519.00p 2.26%
International Workplace Group (IWG) 188.80p 2.05%
Energean (ENOG) 864.00p 2.00%
Wizz Air Holdings (WIZZ) 874.00p 1.74%
Mony Group (MONY) 176.25p 1.50%
The Schiehallion Fund Limited NPV (MNTN) 1.97p 1.42%
Balfour Beatty (BBY) 803.00p 1.39%
TP Icap Group (TCAP) 316.00p 1.22%
C&C Group (CDI) (CCR) 117.60p 1.20%
Harbour Energy (HBR) 287.60p 1.19%
FTSE 250 - Fallers
Telecom Plus (TEP) 1,190.00p -16.32%
SSP Group (SSPG) 165.00p -6.56%
Taylor Wimpey (TW.) 78.72p -5.49%
Travis Perkins (TPK) 516.00p -5.40%
Raspberry PI Holdings (RPI) 561.50p -4.28%
Aston Martin Lagonda Global Holdings (AML) 40.28p -3.64%
THG (THG) 33.72p -3.32%
Genus (GNS) 2,326.00p -2.92%
Greggs (GRG) 1,585.50p -2.87%
Kier Group (KIE) 198.70p -2.83%
