Morgan Sindall’s share price soared to its highest since the construction group listed in the mid-1990s after the company told shareholders that its 2021 financial performance will be “significantly ahead of its previous expectations”.
The company said in a trading update this morning that all of its businesses have seen an improved outlook since it issued full-year results in February. Chief executive John Morgan said that the “positive momentum across the group has continued to accelerate”.
Its stock rose by almost a fifth during trading, hitting a record high of 2,235p and making the company the day’s best performer in the FTSE 350 by a considerable margin.
Shares in SEGRO edged up by 1.6% to 1,010 on the back of its own trading update, in which chief executive David Sleath said the REIT is “confident” in its outlook on the back of “highly supportive” tailwinds.
The FTSE 100 closed up 0.6% at 6,938, with a 1.3% rise for the FTSE 250 at 22,364.
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