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09 Mar 2021 | 15:06

FTSE 250 movers: Domino's in the black; Cairn slumps

(Sharecast News) - London's FTSE 250 was up 0.8% at 21,386.89 in afternoon trade on Tuesday. Domino's Pizza pushed higher after it unveiled a £45m share buyback and a rise in annual profit as it announced plans to open another 200 stores. The pizza chain also said it was selling its Swedish unit for €2m (£1.8m) in cash as it looks to focus solely on its UK and Ireland operations.

Defence contractor Ultra Electronics gained after it reported a jump in full-year profit and revenue as it won a number of new contracts. In the year to 31 December 2020, statutory pre-tax profit rose 14% to £103.7m, with revenues up 4.2% at £859.8m. The order book grew 4% to £1.06bn.

IT infrastructure provider Softcat was also trading up after an initiation at 'overweight' by Morgan Stanley.

"Softcat benefits from a best-class-returns profile (we forecast 60% return on capital employed for FY21)," MS said. "The company has continued to invest through Covid, while the 50% SME exposure should contribute a sharp rebound in 2021."

TP Icap was weaker after its final results, while exploration and development company Cairn Energy slumped after saying it swung to a full-year operating loss in 2020.

FTSE 250 - Risers

Baillie Gifford US Growth Trust (USA) 312.00p 9.47% Domino's Pizza Group (DOM) 336.60p 8.44% Edinburgh Worldwide Inv Trust (EWI) 334.00p 8.09% AO World (AO.) 309.50p 8.03% Future (FUTR) 1,806.00p 6.61% Energean (ENOG) 942.40p 6.50% Games Workshop Group (GAW) 9,700.00p 6.19% Ultra Electronics Holdings (ULE) 2,110.00p 6.03% Network International Holdings (NETW) 432.20p 5.57% Softcat (SCT) 1,505.00p 5.47%

FTSE 250 - Fallers

TP Icap Group (TCAP) 244.65p -6.80% Ferrexpo (FXPO) 331.40p -5.69% Crest Nicholson Holdings (CRST) 373.60p -4.69% IWG (IWG) 364.40p -4.46% Cairn Energy (CNE) 191.30p -3.72% Morgan Sindall Group (MGNS) 1,784.00p -3.36% Diversified Gas & Oil (DGOC) 122.00p -3.02% Jupiter Fund Management (JUP) 278.60p -2.99% Clarkson (CKN) 2,495.00p -2.92% Micro Focus International (MCRO) 474.70p -2.63%
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