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FTSE 250 movers: Hays gains after update; Ibstock tumbles
(Sharecast News) - London's FTSE 250 was down 0.1% at 22,030.58 in afternoon trade on Friday. Recruitment firm Hays gained after saying it experienced the typical recovery in post-summer activity in its first quarter, but expects ongoing macroeconomic uncertainty to weigh on its performance over the remainder of the year.
Like-for-like net fees declined by 8% year-on-year over the three months to 30 September, with a 5% decrease in temp and contracting fees met with a 13% drop in the permanent side of the business.
Russ Mould, investment director at AJ Bell, said: "So much bad news was already in the price and there were morsels of good news buried in the statement.
"Chief executive Dirk Hahn appears to be keeping his chin up and the implied message of 'we'll get through this and prosper later on' appears to have been duly noted by the market."
Ibstock tumbled as the building products manufacturer reported weaker-than-expected demand in its core construction markets during the third quarter amid a "more uncertain near-term backdrop".
Ibstock said both clay and concrete revenues were impacted, with second-half sales volumes and adjusted underlying earnings now anticipated to match the first half due to softer market conditions.
Marshalls and Breedon Group also fell.
Gold miners Hochschild Mining and Endeavour both lost their shine as gold prices pulled back from recent highs.
FTSE 250 - Risers
Hays (HAS) 59.95p 3.99% THG (THG) 38.26p 2.90% Aston Martin Lagonda Global Holdings (AML) 60.00p 2.48% Bakkavor Group (BAKK) 218.00p 2.35% Anglo-Eastern Plantations (AEP) 1,380.00p 2.22% Jupiter Fund Management (JUP) 152.00p 2.15% Foresight Solar Fund Limited (FSFL) 77.00p 2.12% Vietnam Enterprise Investments (DI) (VEIL) 786.00p 2.08% Pets at Home Group (PETS) 208.40p 1.76% ICG Enterprise Trust (ICGT) 1,510.00p 1.75%
FTSE 250 - Fallers
Ibstock (IBST) 127.60p -4.63% Hochschild Mining (HOC) 350.80p -3.78% Marshalls (MSLH) 167.20p -3.58% Breedon Group (BREE) 335.60p -3.12% Endeavour Mining (EDV) 3,084.00p -2.96% Ithaca Energy (ITH) 194.20p -2.80% Bridgepoint Group (Reg S) (BPT) 316.60p -2.40% Trainline (TRN) 266.80p -2.20% Diversified Energy Company (DEC) 1,006.00p -2.14% Senior (SNR) 193.80p -2.12%
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