FTSE 250 movers: IDS delivers after strike call-offs, airlines soar on takeover talk

(Sharecast News) - FTSE 250 up 0.09% to 17,932.42 at 1533 GMT.

Planned strikes by staff at Royal Mail over the next two weeks have been abandoned following a challenge by the firm, sending shares in the company higher on Monday.

The Communication Workers Union, which represents much of Royal Mail's staff, said on Monday that it had chosen to withdraw industrial action notices over the next two weeks on the back of a letter it received from Royal Mail's legal team.

Andy Furey, the CWU's acting deputy general secretary, said: "We entirely understand the anger felt by many over the decision but we believe it is a necessary move to protect our dispute.

"They will not be forced into submission so easily, and we will be reminding the company of their determination at Acas in the coming days."

Roughly 115,000 members of the CWU intended to strike on 2, 3, 4, 8, 9 and 10 November.

Royal Mail, which recently claimed strikes had already cost it £70.0m in 2022, said: "The CWU has withdrawn strike action following Royal Mail writing to CWU to highlight numerous material concerns with the formal notification of planned rolling strike action.

"Royal Mail and CWU have planned talks at Acas on Monday 31 October. We will continue to do all we can to keep business, companies and the country connected."

Shares in budget carriers Wizz Air and easyJet both flew higher on a report stating British Airways owner International Consolidated Airlines Group is turning its attention to industry consolidation, with ailing rivals thought to be in its sights.

According to The Times, the Anglo-Spanish IAG, which also owns Iberia and Ireland's Aer Lingus, has turned its attention towards acquisitions following a strong summer.

While IAG has seen passenger demand bounce back following the removal of restrictions, other airlines continue to struggle. The Portuguese government is poised to sell off the country's flag carrier, TAP, while easyJet is expected to report losses of £180m this year. It has also cut capacity for the winter, with the shares now down sharply over the year to date.

FTSE 250 - Risers

Helios Towers (HTWS) 123.80p 8.41% easyJet (EZJ) 352.70p 7.37% International Distributions Services (IDS) 206.70p 6.66% Wizz Air Holdings (WIZZ) 1,709.50p 6.11% Carnival (CCL) 692.20p 4.56% TUI AG Reg Shs (DI) (TUI) 131.40p 4.45% Abrdn (ABDN) 160.90p 3.97% OSB Group (OSB) 415.60p 3.80% Mitchells & Butlers (MAB) 116.40p 3.56% FirstGroup (FGP) 106.50p 3.00%

FTSE 250 - Fallers

Petrofac Ltd. (PFC) 107.80p -6.18% Coats Group (COA) 60.70p -3.96% Oxford Instruments (OXIG) 1,928.00p -3.84% ASOS (ASC) 552.50p -3.58% 4Imprint Group (FOUR) 3,425.00p -3.11% Watches of Switzerland Group (WOSG) 773.50p -3.01% Discoverie Group (DSCV) 749.00p -2.98% 888 Holdings (DI) (888) 91.50p -2.97% HGCapital Trust (HGT) 348.50p -2.79% Balanced Commercial Property Trust Limited (BCPT) 84.00p -2.78%