FTSE 250 movers: Mitchells & Butlers sinks on poor outlook

27th Nov 2012 15:52

Mitchells & Butlers, the UK's largest operator of managed restaurants and pub, was unwanted after noting it had made a slow start to the new financial year, partly because of unseasonably warm weather in the same period in 2011. India-focused Essar Energy was also lower as shares retreated after making strong gains on Monday on the back of a strong set of first half results. Group revenue was up 97% to $12.8bn, driven by the acquisition of the UK Stanlow refinery as well as higher refining revenues in India. Broadband and communications provider KCOM fell after reporting a slight fall in revenue and a large rise in net debt in the first half, its first increase in net debt in four years following seven consecutive six-month periods of reduction. Meanwhile, mining stocks New World Resources and Kenmare Resources, as investors gained confidence on the back of the deal between Eurozone finance ministers which gave the green light to the disbursement of the next bailout tranche to the troubled Greek economy. British defence-equipment maker Chemring, which scaled back full-year profit guidance earlier this month, made strong gains after saying that expectations for the full year remain unchanged since its last update. Business information and events group Informa was also higher after Morgan Stanley raised its target price on the stock from 415p to 485p and upgraded it to overweight. FTSE 250 - RisersNew World Resources A Shares (NWR) 256.90p +6.51%Kenmare Resources (KMR) 33.27p +4.92%Chemring Group (CHG) 240.60p +4.61%Carpetright (CPR) 686.00p +3.86%Bumi (BUMI) 266.00p +3.10%Informa (INF) 417.10p +2.86%SEGRO (SGRO) 232.50p +2.65%Pace (PIC) 182.00p +2.65%Unite Group (UTG) 269.10p +2.51%Rentokil Initial (RTO) 89.60p +2.46%FTSE 250 - FallersMitchells & Butlers (MAB) 311.20p -5.98%Man Group (EMG) 73.30p -4.62%Perform Group (PER) 377.00p -4.31%Essar Energy (ESSR) 122.10p -3.86%Lonmin (LMI) 275.70p -3.09%Petra Diamonds Ltd.(DI) (PDL) 102.70p -2.38%Ocado Group (OCDO) 70.10p -2.37%Petropavlovsk (POG) 350.30p -2.23%Marston's (MARS) 121.70p -2.09%Bwin.party Digital Entertainment (BPTY) 110.00p -1.96%