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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 250 movers: Travel chaos sees easyJet, Wizz Air fly lower

Tue 31 May 2022 13:54

(Sharecast News) - The FTSE 250 was down 0.58% at 20,428.60 at 1436 BST.

Gushing oil prices and chaos at UK airports that has seen flight cancellations for travellers during a busy half-term school holiday week saw shares in low-cost carriers easyJet and Wizz Air fall on Tuesday.

Oil prices surged beyond $120 a barrel after EU leaders agreed to ban 90% of Russian oil by the end of the year in response to Moscow's unprovoked war on Ukraine..

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said: "Brent Crude has soared to $123.5 a barrel following this development, with prices the highest they've been in since early March. The upwards trajectory of the oil price may well have room left to run until a solid outline of how supply is going to be sourced."

Shares in retailers Currys and Marks & Spencer were also lower after FTSE 100 sector peer B&M Value Retail warned on profit margins as consumers started to reign in discretionary spending as Britain faces its highest level of inflation in 40 years amid a cost-of-living crisis.

FTSE 250 - Risers

Drax Group (DRX) 681.00p 3.18% Playtech (PTEC) 566.50p 2.53% CMC Markets (CMCX) 319.50p 2.40% Mitie Group (MTO) 57.30p 2.32% Ferrexpo (FXPO) 181.70p 2.31% Indivior (INDV) 333.40p 2.21% Centrica (CNA) 78.98p 1.99% FirstGroup (FGP) 135.90p 1.95% TI Fluid Systems (TIFS) 180.60p 1.92% The Renewables Infrastructure Group Limited (TRIG) 132.80p 1.84%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 2,882.00p -6.85% Trustpilot Group (TRST) 98.80p -5.73% Currys (CURY) 83.95p -4.22% Auction Technology Group (ATG) 1,028.00p -3.93% BH Macro Ltd. GBP Shares (BHMG) 4,205.00p -3.78% Bridgepoint Group (Reg S) (BPT) 310.40p -3.66% easyJet (EZJ) 515.60p -3.66% TR Property Inv Trust (TRY) 404.50p -3.58% Baillie Gifford US Growth Trust (USA) 170.20p -3.19% Marks & Spencer Group (MKS) 147.50p -3.15%

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