Top performing FTSE 250 stocks
The highest riser on the FTSE 250 today is Investec, which has risen 5% to 348p. The financial services firm has upgraded its earnings outlook in advance of H1 results due to be released on 18 November. Meanwhile, TI Fluid Systems is up 4% to 283p after Citigroup changed its investment rating to a buy, with a target for the stock of 320p. Q3 earnings last week has seen its share price, already up 31% this year, continue to rise.
Meanwhile, life sciences investment trust Syncona has risen more than 3% to 206p as it reports that one of its portfolio companies, Autolus, will be entering a strategic collaboration with Blackstone Life Sciences worth $250 million. Indivior is also up over 3% today, as the pharmaceutical companies’ bull run continues. It reported an improved earnings outlook last month, on the back of strong sales of its opioid addiction treatments in the USA.
And gold mining stocks Petropavlovsk and Hochschild are up 3% and 2.5% respectively, as respectable earnings combined with fears of a potential market crash drive investors to the relative safety of gold mining stocks. And as the today’s volume leader, Petropavlovsk could have further to go. However, it’s worth noting that the gold spot price has dropped to $58,403/kg since its high of $65,477/kg on 27 July.
Two other FTSE 250 volume leaders to consider are Cineworld and TUI. The futures of the cinema chain and travel company are both dependent on a controlled return to economic normality. Cineworld is currently benefitting from a bonanza of blockbusters from franchises such as James Bond and Marvel. Meanwhile TUI, the largest travel company in the world, is benefitting from the reopening of tourism to the USA, and is up 1% today. But both stocks are far below their pre-pandemic highs. A continued recovery could see them both rise further, while further lockdowns could spell trouble.
Read More: FTSE 250: where next after the base rate is kept at 0.1%?