London’s FTSE 250 was up 0.6% at 23,873.22 in afternoon trade on Tuesday.
Travel and leisure shares were the top gainers, with cruise operator Carnival, budget airline easyJet, Upper Crust owner SSP, Cineworld and travel company Tui all higher.
Marks & Spencer advanced after a positive Times ‘Tempus’ write-up and following an upbeat note by Berenberg.
Berenberg lifted its price target on M&S to 200p from 195p as it said the retailer’s ad-hoc trading update on 20 August indicated a robust recovery since the easing of restrictions.
“We think the continued momentum highlights the progress made to address its weaknesses, and we believe it is emerging from the pandemic a stronger omnichannel business,” Berenberg said.
NCC was under the cosh after a downgrade to ‘hold’ from ‘buy’ on valuation grounds at Canaccord Genuity.
FTSE 250 – Risers
Petropavlovsk (POG) 20.44p 6.79%
Harbour Energy (HBR) 362.20p 5.47%
Carnival (CCL) 1,552.60p 5.06%
easyJet (EZJ) 840.40p 4.95%
SSP Group (SSPG) 278.10p 4.55%
Marks & Spencer Group (MKS) 171.15p 4.42%
Tullow Oil (TLW) 44.86p 4.28%
Fidelity China Special Situations (FCSS) 345.00p 4.23%
Cineworld Group (CINE) 65.28p 3.65%
TUI AG Reg Shs (DI) (TUI) 319.20p 3.64%
FTSE 250 – Fallers
NCC Group (NCC) 320.00p -3.03%
Volution Group (FAN) 511.00p -2.67%
Convatec Group (CTEC) 221.50p -2.16%
IntegraFin Holding (IHP) 566.50p -1.65%
Close Brothers Group (CBG) 1,494.00p -1.52%
Capita (CPI) 49.54p -1.51%
Airtel Africa (AAF) 92.30p -1.49%
CMC Markets (CMCX) 410.50p -1.44%
Indivior (INDV) 192.60p -1.38%
Unite Group (UTG) 1,189.00p -1.33%
