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FTSE 250 movers: Contour crushed, Just Group leaps

Thu, 13th Jun 2019 15:06

(Sharecast News) - London's FTSE 250 was 0.41% lower at 19,171.03 in afternoon trading on Thursday, as power generation business Contour Global led the index lower.Greene King followed close behind after analysts at Berenberg stated that it was "time to sell" the stock as the current financial year "is likely to have got off to a poor start" and will exert pressure on new chief executive Nick Mackenzie, while necessary dividend cuts are unlikely to be taken well in the short term."We think the pressure will already be mounting, with FY 2020 (since 1 May) almost certainly off to a poor start. According to CGA, market like-for-like sales growth for pubs in May was down 1.7%, making it the worst year-on-year decline since March 2018 (which was hit by the "Beast from the East"). That situation is unlikely to get much better, with the rest of the year still facing a series of tough comps," said analysts.Retailer Pets at Home was also among the top fallers as its stock went ex-dividend.Retirement products specialist Just Group surged after saying it remains committed to delivering capital self-sufficiency by 2022 and will target further cost cuts in its US care business.Analysts from Shore Capital said: "Just has had several well publicised issues over the last few years that have had significant impacts on the share price, but the underlying business remains one ideally placed for strong growth in bulk annuities and lifetime mortgages over the coming years. The share price has fallen significantly below the reality of events and at a 2019F PER of 3.6x continues to fundamentally undervalue the group."Kier Group was higher after analysts at Peel Hunt said they were confident that the UK Contracting market remains stable with pockets of strength (regional building), lumpiness (infrastructure) and slowing (London building) after attending presentations from Kier, Balfour Beatty and Morgan Sindall.Premier Oil, Tullow Oil and Cairn Energy were higher after oil prices rose sharply after two oil tankers were attacked in the Gulf of Oman.Finally, Paragon Banking Group rose after analysts at Canaccord hiked the stock's target price from 495p to 500p, stating that the mortgage provider is "well-positioned for the medium term" despite Brexit related uncertainty.Market MoversFTSE 250 (MCX) 19,171.03 -0.41%FTSE 250 - RisersJust Group (JUST) 57.35p 13.68%Kier Group (KIE) 195.20p 7.25%Premier Oil (PMO) 72.78p 3.97%Tullow Oil (TLW) 199.35p 2.39%Ibstock (IBST) 244.80p 2.34%Sabre Insurance Group (SBRE) 262.50p 2.34%Saga (SAGA) 38.94p 2.10%Paragon Banking Group (PAG) 443.00p 1.98%Bakkavor Group (BAKK) 125.00p 1.96%Cairn Energy (CNE) 145.50p 1.68%FTSE 250 - FallersContour Global (GLO) 196.60p -7.92%Greene King (GNK) 605.60p -7.15%Card Factory (CARD) 179.40p -6.17%Ted Baker (TED) 900.50p -5.21%Mitchells & Butlers (MAB) 276.50p -4.33%Pets at Home Group (PETS) 173.30p -4.31%Rank Group (RNK) 153.00p -4.26%Fisher (James) & Sons (FSJ) 1,844.00p -3.96%Aston Martin Lagonda Global Holdings (AML) 1,061.00p -3.33%Vivo Energy (VVO) 128.80p -3.01%
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6 Sep 2019 15:54

Greene King Faces Shareholder Opposition To Remuneration Report

(Alliance News) - Greene King PLC said a third of its shareholders rejected a motion to approve a directors' remuneration report during the company's annual general meeting on pub operator

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6 Sep 2019 07:46

Greene King Q1 beer sales fall ahead of ?2.7bn takeover

(Sharecast News) - Pub owner and brewer Greene King saw beer sales plunge in the first quarter ahead of its £2.7bn takeover by Hong Kong billionaire Li Ka-Shing.

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30 Aug 2019 16:04

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21 Aug 2019 13:20

Wednesday broker round-up

(Sharecast News) - Greene King: RBC Capital Markets downgrades to sector performer with a target price of 850p.

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20 Aug 2019 12:26

Tuesday broker round-up

(Sharecast News) - Royal Dutch Shell: Barclays downgrades to equal weight with a target price of 3,100p.

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20 Aug 2019 11:00

Canaccord Genuity lowers Greene King to 'hold' following CK Noble offer

(Sharecast News) - Analysts at Canaccord Genuity raised their target price on British landlord Greene King on Tuesday, but lowered their recommendation for the firm's shares from 'buy' to 'hold' following the previous session's accepted offer from CK Noble.

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19 Aug 2019 17:01

LONDON MARKET CLOSE: FTSE 250 Surges As Greene King Accepts Takeover

(Alliance News) - London stocks started the week on the front foot amid stimulus hopes and the prospect of further trade talks between the US and China. In Monday's afternoon company news, up

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19 Aug 2019 16:16

TOP NEWS: Greene King Agrees GBP4.6 Billion Offer From CK Asset

(Alliance News) - Greene King PLC said Monday it has accepted an 850 pence cash offer from Hong Kong-listed property developer CK Asset Holdings Ltd.Shares in the FTSE 250-listed pub jumped

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19 Aug 2019 15:56

CK Asset Holdings to buy Greene King for 850p a share

(Sharecast News) - Shares of Greene King surged on Monday as the pub group agreed to be bought by a subsidiary of CK Asset Holdings, the flagship of the CK Hutchison Group, for 850p a share in cash.

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10 Jul 2019 08:28

TOP NEWS: Dunelm Confident Amid Double-Digit Annual Revenue Growth

(Alliance News) - Curtains and bedding seller Dunelm Group PLC on Wednesday reported a double-digit increase in revenue in both its final quarter and full financial year, and said it expects to by

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27 Jun 2019 10:59

WINNERS & LOSERS SUMMARY: Kingfisher Rises After Appointing New CEO

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - up 3.8%. The DIY retailer appointed Carrefour as -

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27 Jun 2019 07:50

Greene King outperforms but damp weather harming current year sales

(Sharecast News) - Greene King reported that it had returned to market outperformance on Thursday, due to growth from its pub company and brewing and brands segments, although wet weather did hurt sales in the post year-end period.

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20 Jun 2019 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

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13 Jun 2019 13:08

Thursday broker round-up

(Sharecast News) - Domino's Pizza Group: Peel Hunt upgrades to buy with a target price of 300p.

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