FTSE 250 movers: Greene King guidance reassures; Pets at Home in dog house
Greene King shares fizzed higher and led the FTSE 250 risers after the company said it remained well placed to withstand external market challenges and deliver long-term value to its shareholders despite sales taking a hit from the 'Beast from the East' snowy weather earlier this year.
Greene King said full year profit could fall 10-12% after pub sales worsened in the last few months of the year amid a continued "challenging" market.
With three weeks of the year to go, the FTSE 250 company said it expects its final profit before tax and exceptionals measure to come in at £240-245m.
Over-50s specialist Saga made solid gains despite posting a drop in full-year pre-tax profit, as it sounded an upbeat note on its outlook.
Shares in gambling technology company Playtech also jumped on Thursday as the company said it had agreed to buy 70.6% of Italian betting and gaming outfit Snaitech from two major shareholders for €846m.
Playtech added that it would have to make a mandatory takeover offer for the remaining stake in Snaitech after completing the initial purchase. The two major shareholders were named as Global Games and OI Games.
Dunelm advanced after posting a 5% jump in third-quarter revenue.
Countryside Properties rose as it the firm said it had has acquired Leicester-based partnerships housebuilder Westleigh for up to £135.4m in cash on a debt free and cash free basis.
Pets at Home was in the dog house after Morgan Stanley said that having analysed the accounts of almost 400 of its JV Vet practices, it has become "rather sceptical about the main bull point in the Pets at Home investment case".
Auto Trader was hit by a downgrade to 'neutral' at Exane BNP Paribas, while a fall in UK and Ireland fee income at recruiter Hays over continuing Brexit worries sent the shares lower.
Market Movers
FTSE 250 (MCX) 19,696.17 0.21%
FTSE 250 - Risers
Greene King (GNK) 520.00p 11.85%
Dunelm Group (DNLM) 575.50p 9.83%
Man Group (EMG) 190.10p 8.32%
Playtech (PTEC) 804.60p 5.67%
Saga (SAGA) 123.30p 5.38%
Countryside Properties (CSP) 353.40p 4.56%
Wizz Air Holdings (WIZZ) 3,394.00p 3.41%
FirstGroup (FGP) 105.20p 3.34%
Greencore Group (GNC) 148.65p 3.23%
Dixons Carphone (DC.) 198.00p 3.13%
FTSE 250 - Fallers
Sirius Minerals (SXX) 27.66p -8.41%
Pets at Home Group (PETS) 156.50p -4.92%
Auto Trader Group (AUTO) 339.00p -4.91%
esure Group (ESUR) 211.57p -3.39%
Hays (HAS) 179.90p -3.38%
Ocado Group (OCDO) 507.00p -3.24%
NewRiver REIT (NRR) 286.00p -2.56%
Savills (SVS) 967.50p -2.42%
Kaz Minerals (KAZ) 874.78p -2.19%
Unite Group (UTG) 802.50p -2.13%