WINNERS & LOSERS: Saga sails higher, Greggs rises, utilities recover

(Alliance News) – The following are the leading risers and fallers among FTSE 100 and 250 index constituents on Wednesday.

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FTSE 100 winners

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SSE PLC, up 2.8% at 2,505.00p, utilities rise after falling on Wednesday

National Grid PLC, up 2.7% at 1,153.75p

Severn Trent PLC, up 2.3% at 3,138.00p

Antofagasta PLC, up 2.3% at 3,734.00p

Babcock International Group PLC, up 2.2% at 1,021.25p, strikes UK bridging deal for Ministry of Defence pact

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FTSE 100 losers

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Sage Group PLC, down 2.1% at 950.70p

Ithaca Energy PLC, down 1.7% at 270.40p, oil price declines

BP PLC, down 1.6% at 541.85p, tracks Brent lower

Shell PLC, down 1.1% at 3,553.75p, also fall as Brent declines

BT Group PLC, down 0.9% at 194.25p

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FTSE 250 winners

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Saga PLC, up 10% at 707.50p, better than expected first half

Greggs PLC, up 6.5% at 1,997.00p, raises guidance

Oxford Nanopore Technologies PLC, up 6.5% at 212.30p, RBC raises price target to 300p from 225p

Pennon Group PLC, up 5.2% at 465.00p

RHI Magnesita NV, up 5.0% at 2,960.00p, takeover interest from Vesuvius

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FTSE 250 losers

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Goodwin PLC, down 3.7% at 13,880.00p

WPP Group PLC, down 2.5% at 373.90p

Playtech PLC, down 1.7% at 370.60p

Entain PLC, down 1.3% at 418.85p

Bloomsbury Publishing PLC, down 1.3% at 629.00p

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FTSE 100 & 250 movers in focus:

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Saga, up 10% at 707.50p, 12-month range 234.50p-747.00p. Its half-year earnings have improved, and it now expects to meet medium-term aims sooner than expected. The provider of products and services for people over 50 says pretax profit in the six months to July 31 jumped to GBP28.0 million from GBP3.7 million. Revenue improved 12% to GBP367.5 million from GBP328.2 million. Underlying pretax profit soared 98% to GBP46.6 million from GBP23.5 million. It was a first half that was “ahead of expectations and driven by growth across all core businesses”, Saga adds. It now expects annual underlying pretax profit “to be materially higher than in the prior year” and in a range of GBP65 million to GBP70 million. It now expects to meet its medium-term underlying pretax profit aim of GBP100.0 million and leverage ratio target of 2.0 “before the original target date of January 2030”. “In April 2025, we laid out our medium-term targets, with plans to achieve underlying profits of GBP100.0 million by January 2030 and leverage of less than 2.0x. Eighteen months on, we are significantly ahead of that trajectory. While conscious of potential economic headwinds and volatile global conditions, our performance this year further demonstrates the resilience of our business model and target customer group, increasing our confidence in achieving our medium-term targets ahead of plan,” Chief Executive Officer Mike Hazell says.

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Greggs, up 6.5% at 1,997.00p, 12-month range 1,407.20p-2,058.00p. The baker has seen “improved” trading in recent weeks, helped by more favourable weather, and it has proposed a plan to consolidate its manufacturing operations which may lead to over 700 roles being lost. In the 13 weeks to September 26, total sales rose 7.7%, Greggs says, climbing 7.4% on a like-for-like basis. Company-managed shop like-for-like sales were up 3.4% during the period. “Trading improved across the quarter, supported by the successful launch of new products and more settled weather in August and September,” Greggs adds. Year-to-date, total sales are up 7.4%, with like-for-like sales up 2.6%. Greggs still expects around 100 to 110 net new shop openings in 2026, plus 12 ‘Greggs Express’ convenience retailing installations. Looking ahead, it says: “As previously communicated, new distribution centres in Derby and Kettering will increase costs in 2027 before contributing to profitable growth thereafter. Improved trading performance in recent months and continued strong cost control leads us to expect a modestly improved outcome for 2026.” It had previously expected an outcome “broadly in line with 2025”. Greggs has proposed changes to its manufacturing operations after a “comprehensive review”. “This review has resulted in a set of proposals that would relocate elements of our manufacturing processes. Today we have launched a consultation exercise that will consider proposals that could lead to the closure of four sites. This may result in a total of circa 740 roles becoming redundant over a period of two and a half years. We believe such changes, whilst difficult, are necessary to ensure Greggs continues to meet capacity requirements for growth in the years ahead in the most cost-efficient manner,” Greggs adds. The proposals would result in cash costs of some GBP60 million, around GBP40 million stemming from capital expenditure and GBP20 million from “disruption costs and redundancy payments”.

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SSE, up 2.8% at 2,505.00p, 12-month range 1,686.50p-2,767.50p. Utilities regain some ground after struggling on Tuesday following UK Prime Minister Andy Burnham unveiling GB Grid, the new body being set up under the Great British Energy umbrella. It will be the first publicly-owned player in electricity networks since privatisation under Margaret Thatcher.

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Babcock International Group, up 2.2% at 1,021.25p, 12-month range 902.40p-1,527.00p. It says a bridging pact extension has been struck with the UK Ministry of Defence for a maritime support deal, while talks for a longer contract progress. The London-based aerospace, defence and nuclear engineering services company says the two-month extension to the future maritime support programme begins on Thursday. “This provides continuity of critical naval base and nuclear submarine fleet support services while Babcock and the MOD finalise the successor contract, the gateway agreement,” Babcock says. “The gateway agreement will provide the long-term framework for Babcock’s critical contribution to UK defence capability as the sole provider of in-service submarine support to the Royal Navy. It will enable Babcock to support the Royal Navy’s continuous at sea deterrent and its move to warfighting readiness, while providing the foundation for delivering the UK government’s long-term investment in the submarine enterprise.”

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Risers and Fallers Market News SSE National Grid Severn Trent Antofagasta Babcock Ithaca Energy Sage Group BP Shell BT Saga Greggs Oxford Nanopore Technologies Pennon RHI Magnesita Goodwin WPP Playtech Entain Bloomsbury