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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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8 Jan 2019 11:20

Tuesday broker round-up

(Sharecast News) - Vodafone: RBC Capital Markets downgrades to underperform with a target price of 125p.

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8 Jan 2019 10:34

WINNERS & LOSERS SUMMARY: SIG Hurt By Challenging Construction Market

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 2.8%. The cruise line operator was raised

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8 Jan 2019 08:55

LONDON MARKET OPEN: Stocks Up But Morrisons Slides On Christmas Miss

LONDON (Alliance News) - Stocks in London opened higher on Tuesday with investors hopeful a breakthrough could be made in trade talks between the US and China amid "positive and constructive

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8 Jan 2019 07:45

LONDON MARKET PRE-OPEN: Morrisons, Greene King Have Strong Christmas

LONDON (Alliance News) - Stock prices in London are seen opening slightly higher on Tuesday, amid optimism over trade talks between the US and China in their second day in Beijing.In UK corporate

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8 Jan 2019 07:07

Greene King confident about full year after record Christmas day sales

(Sharecast News) - Pub operator Greene King posted a jump in like-for-like sales on Tuesday as it hailed "strong" trading over the Christmas period and expressed confidence over the full year.

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6 Jan 2019 14:41

Sunday shares tips: Serica Energy, Greene King, CMC Markets

(Sharecast News) - In this Sunday's round-up of newspaper share tips, there was Serica Energy in the Sunday Times, Greene King in the Mail on Sunday and CMC Markets in the Sunday Telegraph.

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4 Jan 2019 16:01

UK Earnings, Trading Statements Calendar - Next 7 Days

Monday 7 January MJ GleesonTrading Statement Mattioli WoodsTrading 8 Morrison Year 9

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30 Nov 2018 12:55

Friday broker round-up

(Sharecast News) - BTG: Jefferies downgrades to hold with a target price of 840p.

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29 Nov 2018 12:57

Greene King 'deeply' undervalued, say Peel Hunt and Liberum

(Sharecast News) - Greene King shares are "deeply undervalued", broker Liberum believes, or "materially undervalued" as Peel Hunt has it.

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29 Nov 2018 12:11

LONDON MARKET MIDDAY: Prospect Of Slower US Rate Hikes Lifts Stocks

LONDON (Alliance News) - Stock prices in London on Thursday continued to rise on the wings of dovish comments late Wednesday by US Federal Reserve Chair Jerome Powell.Miners were among the best in

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29 Nov 2018 10:49

WINNERS & LOSERS SUMMARY: Intu Properties Drops As Takeover Collapses

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - Group, up 3.6%. The equipment rentals firm

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29 Nov 2018 09:18

Greene King Says Christmas Bookings Ahead As It Stockpiles For Brexit

LONDON (Alliance News) - Brewer and publican Greene King PLC on Thursday said it is working closely with suppliers to safeguard supplies in the event of a no-deal Brexit, as it reported a 3.2% in

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29 Nov 2018 08:44

LONDON MARKET OPEN: Stocks Up But Intu Plummets As Suitor Walks Away

LONDON (Alliance News) - London stock prices were boosted on Thursday after remarks by Federal Reserve Chair Jerome Powell were interpreted by the market as suggesting a slower pace of US monetary

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29 Nov 2018 08:23

Greene King keeps growing ahead of market

(Sharecast News) - Greene King topped up sales growth in the second quarter, though fierce cost inflation continued to dilute first-half profit growth.

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29 Nov 2018 07:45

LONDON MARKET PRE-OPEN: Unilever, Ashtead Promote New CEOs From Within

LONDON (Alliance News) - Stocks in London are set to open higher on Thursday, following substantial gains in the US overnight, after Federal Reserve Chairman Jerome Powell hinted interest rate In

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