FTSE 250 movers: Telecom Plus up on trading update.

Source: Sharecast

Telecom Plus - which trades as Utility Warehouse - gained as it said it was confident of meeting its guidance for FY27 and of delivering on its long-term goal of £175m of adjusted pre-tax profit by FY31 following an "encouraging" start to the year.

CMC Markets rose after RBC lifted its price target to £7.60 from £4.60.

"Reflecting guidance from the latest trading update, which referenced "exponential and exceptional growth," we make material increases to our revenue forecasts across all years. We expect this to be driven by the wide range of opportunities open to the group, across Institutional and D2C channels, and Trading and Investing products," the broker said.

"We show, within, the breakdown for our revenue growth forecasts in FY27. The high degree of scalability of CMCX's operating model means the incremental revenues should convert effectively to profit."

Construction and housebuilding-related shares were down after a Rightmove report revealed house prices were at their lowest level in 18 years. Travis Perkins, Vistry, Savills and Wickes were all lower.