FTSE 250 movers: JTC jumps; Chemring falls on update

by | Sep 12, 2023

(Sharecast News) – London’s FTSE 250 was flat at 18,516.63 in afternoon trade on Tuesday.
JTC jumped after the provider of fund administration services said it expects to deliver full-year results ahead of current market expectations.

EasyJet flew higher on the back of a broker note by Davy, which lifted sentiment for the sector overall, as it upped its price target on fellow budget airline Ryanair to €24 from €22, highlighting growth potential.

Oil and gas producer Ithaca Energy rose after saying it was buying the remaining 30% stake in the West Shetland Cambo field from Shell UK.

The acquisition, which Ithaca said had minimal near-term cost exposure, will give the company full control over the progression of the future development of Cambo, which is the second largest undeveloped oil and gas discovery in the UK North Sea.

No price was disclosed, but the company said terms were payable on first oil, or receipt of payment to any subsequent sale of the stake by Ithaca.

Aerospace, defence and security tech group Chemring was under the cosh after saying it remains on track to hit forecasts this year, but only as long as the US Department of Defense signs off a £25m order.

FTSE 250 – Risers

JTC (JTC) 730.00p 8.23%
easyJet (EZJ) 460.60p 4.42%
PureTech Health (PRTC) 207.00p 1.97%
Ithaca Energy (ITH) 151.80p 1.88%
Petershill Partners (PHLL) 154.60p 1.84%
Auction Technology Group (ATG) 720.00p 1.84%
Jupiter Fund Management (JUP) 97.95p 1.77%
Tyman (TYMN) 303.50p 1.68%
Watches of Switzerland Group (WOSG) 609.00p 1.67%
Barr (A.G.) (BAG) 495.50p 1.64%

FTSE 250 – Fallers

Chemring Group (CHG) 290.00p -4.76%
Victrex plc (VCT) 1,400.00p -3.65%
Babcock International Group (BAB) 380.20p -3.06%
Morgan Advanced Materials (MGAM) 239.50p -3.04%
IWG (IWG) 166.90p -3.02%
Mobico Group (MCG) 85.00p -2.91%
Molten Ventures (GROW) 240.40p -2.91%
North Atlantic Smaller Companies Inv Trust (NAS) 3,450.00p -2.82%
Senior (SNR) 164.80p -2.49%
Synthomer (SYNT) 46.78p -2.38%

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