Stagecoach shares on the move as it says earnings will beat guidance

Shares in FTSE 250 travel firm Stagecoach (LON:SCG) rallied by 5.43% to 163.20p (as of 10:50 BST) after the company upped its earnings expectations for the year. Trading in the financial year to date has been stronger than forecast, largely as a result of the UK Rail and Virgin Trains divisions, and the sale of the firm’s US operations is still on track to complete by the end of the financial year.

Bus operations in London remained highly competitive, but revenues from buses outside the capital are rising despite a slight drop in passenger miles travelled.