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FTSE 250 movers: C&C jumps; WoS ticks along
(Sharecast News) - FTSE 250 (MCX) 23,276.74 -0.40%
Drinks maker C&C Group tumbled as it warned on profits, citing weak consumer confidence. It now expects adjusted operating profits to be in the range of €70m-73m, reflecting lower operating profits in its distribution business.
The FTSE 250-listed firm said its performance was primarily the result of "softer than anticipated demand" in hospitality, alongside adverse product mix, as consumers continue to move away from the consumption of wine and spirits, in favour of beer.
C&C did note that trading across the Christmas fortnight was in line with expectations. However, it also stated that so far in January, it has seen "continued softness of consumer demand" in the market.
Looking ahead, C&C currently anticipates FY27 profits to be much the same as FY26, as it expects to see current macroeconomic and consumer headwinds continue into next year.
Rank Group slid after Deutsche Bank downgraded shares of the Grosvenor Casinos owner to 'hold' from 'buy' and slashed the price target to 104p from 163p.
Watches of Switzerland rallied after it said late on Thursday that it had bought Texas-based Deutsch & Deutsch, a family-owned luxury watch and jewellery retailer that has been operating since the 1920s.
Miners were back in favour as gold and oil prices jumped amid geopolitical tensions.
FTSE 250 - Risers
Hochschild Mining (HOC) 706.50p 4.36% Harbour Energy (HBR) 214.00p 3.68% Watches of Switzerland Group (WOSG) 536.50p 3.47% Me Group International (MEGP) 137.80p 3.45% Ceres Power Holdings (CWR) 347.20p 2.72% Endeavour Mining (EDV) 4,388.00p 2.67% Pets at Home Group (PETS) 202.40p 1.96% NCC Group (NCC) 137.60p 1.93% Ithaca Energy (ITH) 173.00p 1.65% Oxford Biomedica (OXB) 867.00p 1.64%
FTSE 250 - Fallers
C&C Group (CDI) (CCR) 115.60p -10.11% Wizz Air Holdings (WIZZ) 1,313.00p -5.13% Rank Group (RNK) 93.40p -5.08% B&M European Value Retail S.A. (DI) (BME) 165.40p -5.00% Hays (HAS) 45.96p -4.73% Close Brothers Group (CBG) 509.00p -4.59% Ocado Group (OCDO) 244.90p -3.81% Future (FUTR) 521.50p -2.89% SSP Group (SSPG) 189.70p -2.77% Aston Martin Lagonda Global Holdings (AML) 61.60p -2.76%
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