FTSE 250 movers: WoS, software stocks under the cosh
By Frank Prenesti
Date: Wednesday 04 Feb 2026
(Sharecast News) - FTSE 250 (MCX) 23,436.94 0.63%
Watches of Switzerland was still weaker but off earlier lows, having tumbled after it lifted its full-year sales outlook following strong trading in the third quarter but reduced its profit margin forecast.
In an update on the 13 weeks to 25 January, the company said trading was strong across the group, consistent with trends in the first half of the year and with sales growth ahead of expectations.
WOSG said demand for key luxury brands remains strong and continues to outstrip supply in both the UK and the US.
As a result, it now expects FY 2026 sales growth in constant currency of between 9% and 11%, up from previous guidance of 6% to 10%. However, it also cut its profit margin guidance. It now expects the EBIT margin to decline by between 70 and 90 basis points, having previously said it would be flat to down 100 basis points.
WOSG said the updated guidance reflects the impact of brand margin adjustments, product mix, and one-off items relating to Roberto Coin department store debtor provisions. It also reflects infrastructure investments in US ecommerce and group marketing.
Although the selloff in software and related stocks eased somewhat, Softcat, Computacenter, Kainos and Trustpilot remained under the cosh amid worries about the impact of AI, after Google-backed Anthropic launched a new AI tool for companies' in-house legal teams.
Dan Coatsworth, head of markets at AJ Bell, said: "The dust settled on Wednesday after a dramatic session for tech-related stocks amid new AI disruption.
He added that it was concerning that there was "little sign of a share price recovery today, with bargain hunters not tempted to step in".
Lancashire racked up healthy gains after Zurich Insurance and Beazley said they had reached an agreement in principle on the terms of an £8bn takeover of the Lloyd's of London insurer.
FTSE 250 - Risers
Ceres Power Holdings (CWR) 316.40p 7.11%
Marshalls (MSLH) 167.00p 4.37%
Pagegroup (PAGE) 207.40p 4.12%
Domino's Pizza Group (DOM) 188.00p 4.10%
Lancashire Holdings Limited (LRE) 643.00p 4.05%
Victrex plc (VCT) 691.00p 3.75%
Greggs (GRG) 1,680.00p 3.64%
Travis Perkins (TPK) 659.00p 3.62%
Tate & Lyle (TATE) 390.40p 3.28%
Hilton Food Group (HFG) 505.00p 3.27%
FTSE 250 - Fallers
Trustpilot Group (TRST) 160.80p -8.69%
Softcat (SCT) 1,262.00p -8.15%
HGCapital Trust (HGT) 375.00p -7.41%
Computacenter (CCC) 3,116.00p -5.23%
Oakley Capital Investments Limited (DI) (OCI) 505.00p -5.08%
Mony Group (MONY) 170.70p -5.01%
Kainos Group (KNOS) 797.00p -5.01%
Watches of Switzerland Group (WOSG) 493.20p -4.14%
WPP (WPP) 256.90p -3.78%
GB Group (GBG) 218.00p -3.75%
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