FTSE 250 movers: Carnival cruises higher after Q1 update; Cineworld drops
London’s FTSE 250 was up 0.8% at 22,166.86 in afternoon trade on Wednesday.
Carnival shares cruised to the top of the index after the company said it expects to report a wider first-quarter loss due to the pandemic, but that bookings are up on last year amid pent-up demand. The cruise operator expects to report a net loss of $1.97bn for the first quarter compared to a $781m loss in the same period a year ago.
But the company - which operates the AIDA, Princess and Costa cruises - also said volumes for all future cruises were around 90% higher than in the final quarter of last year thanks in part to pent-up demand.
Reopening stocks were on the rise, with shopping centre owner Hammerson and Upper Crust owner SSP both higher.
IG market analyst Joshua Mahony said the prospect of loosening Covid restrictions has helped boost high-street and services sectors stocks, "with optimism over the impending economic boost helping to drive stocks higher".
"Questions remain over whether such loosening will ultimately drive us Covid cases, but until we see a change of the current trajectory, markets are increasingly confident that the UK vaccination effort will help enable a substantial economic recovery in the coming months," he added.
Cineworld was on the back foot, however, having gained sharply on Tuesday.
FTSE 250 - Risers
Carnival (CCL) 1,848.40p 8.28%
Provident Financial (PFG) 240.60p 7.22%
Hammerson (HMSO) 37.72p 6.10%
Babcock International Group (BAB) 240.80p 5.43%
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,171.00p 5.15%
SSP Group (SSPG) 340.00p 4.68%
Rank Group (RNK) 205.50p 4.10%
Bytes Technology Group (BYIT) 420.40p 4.06%
Aston Martin Lagonda Global Holdings (AML) 2,025.00p 3.79%
Micro Focus International (MCRO) 563.80p 3.79%
FTSE 250 - Fallers
Tullow Oil (TLW) 48.68p -2.56%
PureTech Health (PRTC) 411.00p -2.14%
Trainline (TRN) 473.40p -1.99%
Future (FUTR) 2,018.00p -1.94%
Cineworld Group (CINE) 103.75p -1.75%
Mitie Group (MTO) 64.20p -1.68%
Hipgnosis Songs Fund Limited NPV (SONG) 121.80p -1.62%
TI Fluid Systems (TIFS) 281.00p -1.58%
Fidelity China Special Situations (FCSS) 427.00p -1.50%
Caledonia Investments (CLDN) 2,645.00p -1.49%
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