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FTSE 250 movers: Superdry, Ted Baker feel both sides of fashion's fickle hand
Shares in trend fashion outlet Superdry were distinctly out of favour on Wednesday despite reporting booming online sales over the Christmas period.
Half year pre-tax profits fell 28% to £9.1m after a £15.9m hit on foreign exchange hedging. Underlying profits were up 21% to £25.3m.
The shares took a hammering and closed 9% lower.
OneSavings Bank was under the cosh after JC Flowers sold off a 10% stake in the company at 390p per share.
IG and CMC Markets were down after the Financial Conduct Authority raised concerns again about marketing of CFDs to retail investors.
In broker note action, Hikma Pharmaceuticals slumped after a downgrade to 'underperform' at Jefferies.
Belaguered telecoms group TalkTalk is in distinctly bad odour with investors and its woes were compounded when it was caught up in a computer hack at Carphone Warehouse. TalkTalk's mobile news site was hit by the breach, for which Carphone was hit with a £0.4m fine by regulators.
Among the risers, high end clothing retailer Ted Baker was the complete reverse of Superdry and most definitely in fashion with investors as it hailed a "good" performance over the Christmas, with retail sales up 9%, and said full-year results should be in line with its expectations.
The shares topped the risers board with an increase of 9% on the day.
Aerospace and defence engineer Senior advanced after saying a good performance in November and December and a benefit from US tax changes will see earnings come in higher than expected, while recruiter Pagegroup surged as it said it had a "record" year in 2017.
Centamin rose after a better-than-expected production update, Marshalls was in the black after reporting an 8% jump a jump in full-year revenue and expressing confidence in meeting its 2017 expectations.
Market Movers
FTSE 100 (UKX) 7,740.51 0.12%
FTSE 250 (MCX) 20,751.77 -0.59%
techMARK (TASX) 3,506.94 -0.96%
FTSE 250 - Risers
Pagegroup (PAGE) 514.00p 9.18%
Ted Baker (TED) 3,088.00p 8.89%
Senior (SNR) 287.80p 7.31%
Centamin (DI) (CEY) 162.45p 5.38%
Metro Bank (MTRO) 3,692.00p 4.12%
BGEO Group (BGEO) 3,817.70p 4.08%
TBC Bank Group (TBCG) 1,666.00p 3.35%
Paragon Banking Group (PAG) 503.50p 2.50%
Just Group (JUST) 159.00p 2.45%
Marshalls (MSLH) 456.60p 2.15%
FTSE 250 - Fallers
Superdry (SDRY) 1,851.00p -9.26%
Hikma Pharmaceuticals (HIK) 1,010.00p -6.05%
QinetiQ Group (QQ.) 216.20p -4.76%
Capital & Counties Properties (CAPC) 305.00p -4.66%
SSP Group (SSPG) 626.00p -4.28%
OneSavings Bank (OSB) 398.40p -4.00%
IG Group Holdings (IGG) 749.50p -3.79%
Mitchells & Butlers (MAB) 268.60p -3.66%
UBM (UBM) 721.00p -3.55%
TalkTalk Telecom Group (TALK) 136.70p -3.39%