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FTSE 250 movers: Funding Circle flounders, Amigo arises

Fri, 05th Apr 2019 14:42

(Sharecast News) - London's FTSE 250 index was 0.07% lower at 19,492.70 in afternoon trade on Friday, with Funding Circle leading the index lower.The peer-to-peer lending marketplace was sharply down as it announced plans to close its listed Funding Circle SME Income Fund after shareholders accounting for more than two thirds of the register called for it to stop making new investments.Transport operator Stagecoach was hit by a downgrade to 'underperform' at Jefferies, as analysts advised investors to focus on the remaining bus businesses as an indicator of medium and long term value and potential growth due to ongoing political uncertainty regarding the future of rail franchising in the UK."Focusing on Stagecoach's bus business, we cut our EBIT forecasts by 3% for regional bus and by 17% for London bus, to reflect our more cautious stance on; the sustainability of regional top line growth given regional positioning and volume declines, wage and fuel cost inflation headwinds and over capacity exacerbating the negative impact of its current defensive positioning in the London bus contract bidding cycle," said a note from the broker.Countryside Properties inched lower as Peel Hunt analysts warned that they expected trading since January to have been impacted by the political backdrop weighing on sales rates for higher priced properties, particularly in the South East.Meanwhile, Hammerson was dented by a downgrade from 'hold' to 'sell' at Stifel, where analysts said they do not think the company's strategy of disposing of more than £500m worth of assets this year this will be sufficient to arrest the decline in shares price due to drops in EPS falling as a result of disposals.At the other end of the pitch, Amigo Holdings was the top riser and power generator Contour Global rallied as it posted a 19% jump in 2018 earnings, boosted by acquisitions, and announced the appointment of Stefan Schellinger - former finance director of plastic and fibre products supplier Essentra - as its new chief financial officer.Commodity trading and mining company Ferrexpo climbed even as it reported that first quarter production fell to 2.53m tonnes from 2.58m a year earlier.Analysts at Shore Capital said: "It should be borne in mind that Ferrexpo is guiding for full-year 2019 production of to be the same as 2018's 10.6Mt. From that perspective, we note that Q1 2019 production was essentially in-line with that of Q1 2018. We remind readers that Ferrexpo is currently conducting a large maintenance programme at its pelletising facilities. The programmes are expected to complete in 2020, at which point the company expects to be producing at 12Mtpa."Finally, Woodford Patient Capital Trust edged higher after recording a 6.9% increase in net asset value to 97.61p through 2018, stating that the portfolio's success stories were steadily beginning to account for a larger proportion of assets.Market MoversFTSE 250 (MCX) 19,492.70 -0.07%FTSE 250 - RisersAmigo Holdings (AMGO) 209.00p 6.09%Contour Global (GLO) 193.20p 5.92%TI Fluid Systems (TIFS) 214.00p 4.39%Ferrexpo (FXPO) 284.70p 3.72%Bakkavor Group (BAKK) 124.80p 3.14%Just Group (JUST) 63.95p 2.81%Sirius Minerals (SXX) 21.01p 2.69%Sabre Insurance Group (SBRE) 293.47p 2.61%Woodford Patient Capital Trust (WPCT) 82.89p 2.33%Acacia Mining (ACA) 199.30p 2.15%FTSE 250 - FallersFunding Circle Holdings (FCH) 315.50p -8.02%Stagecoach Group (SGC) 136.20p -7.66%Civitas Social Housing (CSH) 86.19p -6.72%Go-Ahead Group (GOG) 1,906.27p -4.01%Metro Bank (MTRO) 845.00p -3.81%Royal Mail (RMG) 253.50p -3.72%IG Group Holdings (IGG) 522.40p -3.40%Computacenter (CCC) 1,064.00p -3.27%Countryside Properties (CSP) 320.60p -3.14%Hammerson (HMSO) 337.60p -2.88%
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One Heritage appoints former Countryside Partnerships director as CFO

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Countryside Partnerships delivers 'solid' Q3 performance

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Countryside Partnerships chair resigns immediately amid sales process

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Countryside Partnerships chairman John Martin resigns

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IN BRIEF: Countryside Partnerships signs joint venture deal with MTVH

Countryside Partnerships PLC - Essex-based operative builders company - Signs a joint venture deal with London-based housing association Metropolitan Thames Valley Housing. Under the contract, the two will regenerate the Clapham Park Estate in the south London borough of Lambeth.

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20 Jun 2022 11:06

Countryside Parnertships agrees JV with MTVH for Lambeth regeneration

(Sharecast News) - Countryside Partnerships has entered into a joint venture agreement with Metropolitan Thames Valley Housing (MTVH) to deliver the significant regeneration of the Clapham Park Estate in Lambeth, after being selected last year as the preferred partner to deliver the scheme.

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TOP NEWS: Countryside Partnership opens formal sales process

(Alliance News) - Countryside Partnerships PLC on Monday said it has opened a formal sales process, looking for a potential buyer, following one bid approach and shareholder feedback.

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Countryside to seek suitor after shareholder feedback

(Sharecast News) - Countryside Partnerships announced its intention to begin a formal sale process on Monday, after a number of recent unsolicited acquisition proposals.

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6 Jun 2022 10:00

Countryside bidder backs request for housebuilder to find buyer

(Alliance News) - A Countryside Partnerships PLC suitor backed a call for the housebuilder and urban regeneration firm to kick off a search for a buyer, adding that it would "welcome" the chance to participate.

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