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FTSE 250 movers: Funding Circle falters, Ferrexpo flies

Wed, 01st May 2019 15:03

(Sharecast News) - London's FTSE 250 index was down 0.10% at 19,805.33 in afternoon trade on Wednesday, with Funding Circle leading the index downwards.Following close behind the peer-to-peer lending marketplace, Sirius Minerals dropped after successfully raising $425m as part of its a heavily-discounted $3.8bn capital raising to finance the next stage of development of its Woodsmith polyhalite mine in North Yorkshire.Analysts from Shore Capital said: "Successfully securing the Stage 2 financing is effectively the key to unlocking Sirius's vast potential, and we expect should catalyse a major re-rating of the shares. Beyond that, while Sirius would still be some years from becoming cash generative, an investment in the company should become progressively de-risked and enjoy significant value uplift as it advances towards production, we believe."Pub retailer and brewer Greene King fell after Berenberg analysts stated that it is an "opportune moment to sell" as the last of the soft comparatives now lie in the past, leaving a series of challenging comparisons ahead and earnings growth likely to turn negative in 2020.Indivior and Intu Properties followed suit ahead of respective results and a trading update later this week, while takeaway giant Domino's Pizza was also lower ahead of the release of its first quarter trading statement next week.Ferrexpo was the top riser after Liberum upped its stance on the stock to 'buy' form 'hold' as it said the recent selloff, which was precipitated by potential management involvement in the possible misappropriation of funds from a charity called Blooming Land, was overdone."We think it's highly unlikely management knew of or suspected any (potential) misallocation of funds before ceasing payments to the charity in May 2018. Assuming this becomes clearer following completion of the Independent Review, we expect the shares will rebound, despite our view of further softness in Chinese steel demand and a pull back in benchmark iron ore prices," said analysts.Finally, telecommunications testing outfit Spirent edged upwards after reporting that it saw positive momentum from its last trading year carry over into the first quarter of 2019.Market MoversFTSE 250 (MCX) 19,805.33 -0.10%FTSE 250 - RisersFerrexpo (FXPO) 216.54p 4.46%NewRiver REIT (NRR) 238.00p 3.70%Metro Bank (MTRO) 766.00p 2.13%Babcock International Group (BAB) 535.80p 2.06%Charter Court Financial Services Group (CCFS) 362.00p 1.97%Crest Nicholson Holdings (CRST) 392.40p 1.92%McCarthy & Stone (MCS) 130.60p 1.87%Petrofac Ltd. (PFC) 450.80p 1.69%Spirent Communications (SPT) 161.40p 1.64%IG Group Holdings (IGG) 518.00p 1.61%FTSE 250 - FallersFunding Circle Holdings (FCH) 233.14p -7.85%Sirius Minerals (SXX) 16.34p -6.20%Greene King (GNK) 613.98p -4.21%Acacia Mining (ACA) 140.30p -4.10%Indivior (INDV) 36.94p -3.37%Hilton Food Group (HFG) 982.00p -3.35%Domino's Pizza Group (DOM) 258.60p -3.33%Intu Properties (INTU) 91.88p -2.55%Cairn Energy (CNE) 167.10p -2.39%Kaz Minerals (KAZ) 631.43p -2.35%
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LONDON BRIEFING: Sainsbury Gains UK Grocery Market Share

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14 Dec 2015 08:52

Morrisons Appoints Greene King Chief Executive Anand To Board

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14 Dec 2015 07:34

Greene King chief joins Morrisons board

(ShareCast News) - Wm Morrison Supermarkets has announced Rooney Anand will join its board as a non-executive director and as senior independent director on 1 January 2016. The FTSE 100 company said Anand, who is currently chief executive of Greene King, is a "highly experienced retail and fmcg (fas

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9 Dec 2015 09:37

BROKER RATINGS SUMMARY: Merrill Lynch Raises Glaxo To Buy From Neutral

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8 Dec 2015 09:37

BROKER RATINGS SUMMARY: HSBC Raises Morrisons To Hold From Reduce

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4 Dec 2015 09:33

BROKER RATINGS SUMMARY: Barclays Downgrades Whitbread To Equal Weight

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3 Dec 2015 12:11

Broker tips: Debenhams, Greene King, Glencore

(ShareCast News) - Debenhams shares were under pressure on Thursday after Goldman Sachs downgraded the stock to 'sell' from 'neutral', pointing to slowing space growth. "As one of the UK general retailers wrestling with the online channel shift dynamic, and in recent times suffering from store-based

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3 Dec 2015 10:35

Canaccord Genuity bumps up Greene King target price

(ShareCast News) - Accounting adjustments and increased synergies will boost Greene King's profits in the medium-term, but not the company's cash-flows, Canaccord Genuity said. That followed the company's announcement that it would take a £325.6m provision to replace its "onerous" £50m lease provisi

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2 Dec 2015 16:58

LONDON MARKET CLOSE: Iran OPEC Comments Spark Late FTSE 100 Volatility

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2 Dec 2015 14:08

FTSE 250 movers: Greene King's half year profit keeps market balanced

(ShareCast News) - The FTSE 250 was still in the green on Wednesday before the London Stock Exchange was due to announce which companies would be promoted and demoted from the FTSE 100 and 250. The market was up 17.18 points (0.1%) to 17,533.94 by mid-afternoon, but trending downwards. Greene King

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2 Dec 2015 12:14

UPDATE 2-Greene King posts bigger profit after Spirit Pub deal

* To ship 50,000 IPA cases to China following Xi Jinping visit * Raises savings forecast from Spirit deal to 35 mln stg * First-half pretax profit rises 47 pct to 121.3 mln stg * Stock rises 10 pct, top gainer on FTSE's midcap index (Adds details, CEO, analyst comment, updates

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2 Dec 2015 12:13

LONDON MARKET MIDDAY: Weak Eurozone Inflation Paves Way For ECB Easing

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