The FTSE 250 index slipped 0.7% to 20,964 and AIM market fell 0.65% to 1,030 on Wednesday as investors digested record high inflation.
The FTSE 250 was dragged by companies reliant on consumer spending while homebuilders and REITs took a big hit.
FTSE 250 Fallers
Plus500 shares fell 0.5% to 1,458p after the company reported a 25% loss in EBITDA due to a 33% decrease in new customers acquired.
Ultra Electronic shares were trading down 0.24% to 3,334p despite seeing an increase in orders to £1.3bn. The acquisition of Ultra Electronics by Advent Cobham is still pending government approval and will not meet the previously expected deadline of Q1 2022.
TBC Bank Group shares dropped 1.6% to 1,033p following the announcement that the bank’s subsidiary JSC TBC Bank will issue a tender offer for an outstanding $300m 5.75% notes due 2024.
FTSE 250 Risers
Harbour Energy shares are up 2.97% to 464p following the company’s reported increase of revenue to $3.6bn and a post-tax profit of $101m as opposed to the $778m loss in 2020.
Increased sales and lower impairment charges from exploration and evaluation costs drove the Harbour Energy’s profit.
Tullow Oil shares gained 3.2% to 52.6p as oil price rose following the recent sale of Occidental Petroleum’s share in the Jubilee and TEN fields in Ghana to Kosmos Energy increased Tullow’s interest in the project.
AIM Fallers
Capital Metals shares fell 3.3% to 7.2p after the company experienced backlogs associated with the analysis of mineral samples from their Eastern Minerals Project in Sri Lanka.
ValiRx, the biomedical innovator saw shares plummet 13% to 23p due to delays in licensing the VAL201 drug to TheoremRx because of insufficient funds.
Catenae Innovation shares plummeted 56% to 0.18p following the announcement the company made the decision not pay part of the £270,000 consideration for the acquisition of Hyperneph, and requested a suspension of trading.
88 energy shares sank 6.7% to 2.1p despite favourable results from the Merlin-2 well.
AIM Risers
4D Pharma saw shares soared 59% to 71p – before falling back – as the company announced positive results regarding the Phase I and II study for the treatment of Renal Cell Carcinoma using the combination of MRx0518 and KEYTRUDA.
TPXImpact, the digital transformation provider, saw shares jump as much as 22% to 195p following the announcement of their broadening artificial intelligence capacity with the acquisition of Peak Indicators and Swirl IT.
Restaurant operator Tasty saw shares gain 10% to 5.5p with reported revenues of £34.9m in 2021, almost £10m greater than 2020. The company also saw post-tax profits of £1.2m compared to a loss of £12.7m in 2020 as a result of restaurants reopening post covid.
ITM Power and Ceres Power shares rose 2.8% and 0.5% respectively as the Chancellor announced VAT cuts in green home improvements during Wednesday’s Spring Statement.
Surgical Innovations shares gained as the company said they were expecting higher sales with an increase in elective surgeries post-pandemic.