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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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17 Feb 2016 08:51

London leisure spend lagging provinces, says Coffer Peach Tracker

(ShareCast News) - Trading at the UK's largest restaurant food-led pub chains saw an encouraging uplift last month, despite London falling behind its provincial cousins and casual dining outperforming pubs and bars in 'dry January'. Like-like-sales for January for the 31 companies monitored in the C

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12 Feb 2016 15:35

Greene King's newest director buys in to company

(ShareCast News) - Greene King's newest director has put his money behind the company he'll chair later this year. Philip Yea joined the board last Tuesday, ahead of the retirement of chairman Tim Bridge who is due to step down in May when Yea will take up the role. Yea bought his first stake in th

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12 Feb 2016 11:57

DIRECTOR DEALINGS: Incoming Greene King Chairman Buys First Shares

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11 Feb 2016 09:37

BROKER RATINGS SUMMARY: Panmure Gordon Raises DCC To Buy After Update

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10 Feb 2016 16:22

Wednesday broker round-up

(ShareCast News) - Virgin Money: Nomura starts coverage at buy with a target of 445p. Domino's Pizza: Credit Suisse upgrades to outperform with a target price of 1100p. BBA Aviation: Goldman Sachs downgrades to neutral with 181p target. Greencore: Societe Generale reiterates hold with a 386p targe

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10 Feb 2016 11:53

IN THE KNOW: Analysts Call Greene King's Update "Reassuring"

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10 Feb 2016 07:52

Greene King's third quarter sales boosted by festive season

(ShareCast News) - Greene King has posted a strong third quarter book, boosted by strong Christmas sales. The FTSE 250 pub operator and brewer said on Wednesday that for the 40 weeks to 7 February 2016, Greene King Retail like-for-like sales were up 2.2%, with a 5% increase in sales over the two Chr

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10 Feb 2016 07:50

Greene King Sales Up In 40 Weeks With Record Trading On Christmas Day

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9 Feb 2016 07:50

Northgate Appoints Former Spirit Pub CFO As Finance Director

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5 Feb 2016 09:30

BROKER RATINGS SUMMARY: Barclays Cuts Enterprise Inns To Underweight

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3 Feb 2016 16:05

Earnings, Trading Statements Calendar - Week Ahead

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2 Feb 2016 08:12

Bridge steps down after 45 years with Greene King

(ShareCast News) - Greene King was losing its leading man on Tuesday, with the announcement that - after 45 years at the company, and 10 at the helm - Tim Bridge was stepping down as chairman. The FTSE 250 pub and brewing firm's board said Philip Yea would join the board on Tuesday as a non-executiv

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2 Feb 2016 07:55

Greene King Chairman Tim Bridge Retires, To Be Replaced By Philip Yea

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