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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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21 Dec 2020 09:29

Countryside Expands Home Building Partnership With Sigma Capital

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21 Dec 2020 07:57

Countryside Properties expands relationship with Sigma Capital

(Sharecast News) - Countryside Properties said on Monday that it has further expanded its strategic relationship with private rental sector provider Sigma Capital to deliver up to 5,000 new homes across England over the next three years.

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15 Dec 2020 09:37

UK BROKER RATINGS SUMMARY: JPMorgan Downgrades Berkeley, Raises Redrow

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10 Dec 2020 15:54

UK Shareholder Meetings Calendar - Next 7 Days

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4 Dec 2020 09:42

UK BROKER RATINGS SUMMARY: Croda Raised; Deutsche Says Buy easyJet

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3 Dec 2020 10:29

TOP NEWS: Countryside Swings To Annual Loss As Chair To Step Down

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3 Dec 2020 07:55

Countryside to split business after row with investor

(Sharecast News) - Countryside Properties said Chairman David Howell would quit and that it planned to split its business in line with demands from an activist investor.

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2 Dec 2020 11:29

CORRECT: Countryside Investor Browning West Proposes Removal Of Chair

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2 Dec 2020 10:04

Countryside Investor Browning West Proposes Removal Of Chair Howell

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2 Dec 2020 08:00

Countryside Properties shareholder Browning West calls for chair to be ousted

(Sharecast News) - Countryside Properties said on Wednesday that it "remains focused on acting in the best interests" of its shareholders after Browning West - which owns a 9.4% stake in the company - said it wants a seat on the board and suggested the housebuilding arm be sold to let the Partnerships business prosper.

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26 Nov 2020 16:08

UK Earnings, Trading Statements Calendar - Next 7 Days

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15 Nov 2020 21:43

Sunday newspaper round-up: Restrictions, Brexit, Pennon

(Sharecast News) - Today's death toll, which is usually lower on Sunday and Monday due to weekend reporting lags, is up by just 12 from last Sunday - in a sign that fatalities may be flattening out. It comes after the head of the Office for National Statistics said that growth in infections is 'slowing' too. Some 24,962 new confirmed cases of coronavirus were reported today- just five more than last Sunday. Professor Sir Ian Diamond says that while there remains an increase in the number of Covid cases, the data shows a 'slowdown in the rate of growth', providing a small ray of hope for an end to harsh countrywide restrictions. - Financial Mail on Sunday

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2 Nov 2020 09:32

UK BROKER RATINGS SUMMARY: Liberum Says Buy Glaxo And Hut Group

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20 Oct 2020 13:16

Tuesday broker round-up

(Sharecast News) - Intercontinental Hotels: JP Morgan upgrades to neutral with a target price of 4,400p.

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20 Oct 2020 09:20

UK BROKER RATINGS SUMMARY: JPMorgan Ups Hoteliers Whitbread And IHG

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