FTSE 250 movers: Travel shares gain; Playtech loses ground

London’s FTSE 250 was up 1.6% at 21,980.48 in afternoon trade on Wednesday.
Tui and easyJet both rallied after the government confirmed it will scrap Covid tests for double-jabbed travellers to England.

Easyjet was also boosted after Stifel upgraded shares of the budget airline to ‘buy’ from ‘hold’ and lifted the price target to 750p from 600p, saying it expects the company’s targeted growth strategy to make the most of the unfolding pent-up leisure demand this summer.

“We also see continued solid ancillary revenue and ‘easyJet Holidays’ supporting the profit recovery,” Stifel said.

On the downside, gambling software maker Playtech fell after it again urged shareholders to accept a £2.7bn takeover offer from Australia’s Aristocrat Leisure following reports that it is planning a breakup and sale of the group if the bid is blocked by a bloc of Asia-based investors. Sky News reported that Playtech’s directors and its investment banking advisers are discussing dismantling the group, citing unnamed sources.

Quilter lost ground after the release of a fourth-quarter trading statement.

FTSE 250 – Risers

4Imprint Group (FOUR) 2,645.00p 5.80%
Baillie Gifford US Growth Trust (USA) 233.00p 5.67%
Virgin Money UK (VMUK) 192.95p 5.61%
JTC (JTC) 759.00p 5.27%
TUI AG Reg Shs (DI) (TUI) 258.30p 5.00%
easyJet (EZJ) 633.80p 4.97%
Allianz Technology Trust (ATT) 280.50p 4.66%
Future (FUTR) 3,124.00p 4.55%
Elementis (ELM) 146.30p 4.43%
Man Group (EMG) 207.70p 4.42%

FTSE 250 – Fallers

Playtech (PTEC) 622.00p -3.04%
Quilter (QLT) 140.25p -2.43%
PZ Cussons (PZC) 193.60p -1.33%
Centamin (DI) (CEY) 92.78p -1.09%
Domino’s Pizza Group (DOM) 391.40p -0.91%
Workspace Group (WKP) 863.50p -0.86%
3i Infrastructure (3IN) 349.00p -0.71%
BB Healthcare Trust (Red) (BBH) 167.60p -0.71%
Premier Foods (PFD) 118.20p -0.67%
TI Fluid Systems (TIFS) 238.50p -0.63%

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