FTSE 250 activity on 2025‑11‑21

The mid‑cap index slipped by 20.98 points, closing at 21 363.37 after a week‑long decline that left the FTSE 100 a fraction of a percent higher. The day’s trading was shaped by a handful of high‑profile moves, a modest analyst upgrade, and a wave of corporate earnings that reinforced prevailing market sentiment.

Movers that defined the session

  • Hammerson (LSE:HMS) – The property‑investment trust’s shares rose after the group announced a new development pipeline and a favourable review from a leading rating agency. The lift helped offset broader softness across the mid‑cap sector.

  • Ithaca (LSE:ITH) – The loss‑making retailer suffered a downgrade that prompted a 10% sell‑off. Analysts cited sluggish store performance and a weak macro backdrop as key risks, leading to a sharp decline in the shares’ price.

  • CMC (LSE:CMC) – The software‑services firm saw a rally following the announcement of a new client contract that extended its revenue base. The positive news pushed the stock to its highest level in the week.

  • Paypoint (LSE:PAY) – The retail‑technology company fell after the market questioned the sustainability of its recent earnings growth. Investors reacted to a perceived over‑valuation and a lack of clear guidance for the next quarter.

  • Dr. Martens (LSE:DOCS) and Senior (LSE:SNR) – Both firms posted modest gains in their earnings reports, yet the shares still fell on the day. Dr. Martens’ margin improvement was outweighed by concerns over supply‑chain bottlenecks, while Senior’s dip was linked to a temporary dip in aerospace demand.

  • Genus (LSE:GENU) – The diagnostics‑software maker surged after the company reported a jump in sales driven by its new COVID‑testing platform. The rally added momentum to the index’s top‑side performance.

  • Workspace (LSE:WSP) – The office‑furniture supplier saw a modest slide after a downgrade that highlighted rising interest‑rate risk and a softer corporate demand environment.

Analyst action and investor sentiment

  • Softcat (LSE:SCT) – The IT‑services provider received a modest upgrade from ii.co.uk, noting that its employee‑focused culture still supports a sustainable growth trajectory. The analyst highlighted a gradual shift toward more complex solutions, suggesting incremental upside for the stock.

  • Experian (LSE:EXPN) – Citi lifted its rating in the morning session, citing strong earnings growth and a favourable outlook on the data‑analytics sector. This upgrade contributed to a small lift in the broader index.

  • Ithaca – In contrast, Goldman Sachs reduced its rating, reinforcing the negative sentiment that triggered the stock’s decline.

Corporate news that nudged the index

  • Johnson Matthey – The chemical‑manufacturing company reported first‑half revenues up by 1% to £5.35 billion and an adjusted operating profit of £142 million, a 34% increase from the previous year. The firm also raised guidance for the next quarter, but a higher net debt level and modest dividend payout tempered enthusiasm among investors.

  • Ocado Group (LSE:OCDO) – The online‑grocer’s shares recovered from earlier setbacks after the company announced plans to deploy electric delivery vans across London. The initiative was seen as a strategic move to improve sustainability metrics and reduce operating costs.

  • WH Smith (LSE:SMWH) – The retail‑chain regained some ground following a corporate restructuring aimed at tightening its cost base and expanding its online presence.

  • Osb Group – A £150 million offering of fixed‑rate perpetual subordinated contingent convertible securities was announced, providing the company with additional capital to support its expansion strategy.

Market context

Despite a muted backdrop of economic data, the FTSE 100 ended the week higher, reflecting resilience among larger blue‑chip names. However, the FTSE 250’s decline echoed broader concerns about mid‑cap valuations, AI‑driven growth expectations, and a cautious outlook on consumer‑facing sectors. The index’s 52‑week high of 22 603.3, reached in late October, remains a distant target, while the low of 17 392.5 in early April underscores the volatility that mid‑cap investors face.

The information above synthesises the latest movements and corporate developments that influenced the FTSE 250 on 21 November 2025, drawing exclusively from the provided sources and fundamental data.