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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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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 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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29 Nov 2018 07:35

Intu shares plunge as Peel consortium pulls offer

(Sharecast News) - Shares in shopping centre owner Intu Properties plunged more than 35% on Thursday after Brexit uncertainties forced a consortium led by its deputy chairman John Whittaker to pull its £2.9bn takeover offer.

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29 Nov 2018 06:59

LONDON MARKET EARLY CALL: Higher Call On Dovish Fed; Intu Jilted Again

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

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26 Nov 2018 12:09

Monday broker round-up

(Sharecast News) - Workspace group: Deutsche Bank downgrades to hold with a target price of 1,100p.

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26 Nov 2018 08:56

Mike Ashley said to threaten closing all Intu stores in rent row

(Sharecast News) - Intu Properties was in the red on Monday following a report over the weekend that Sports Direct founder Mike Ashley has threatened to shut all of his stores in Intu shopping centres in a row over new rent terms for House of Fraser sites.

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22 Nov 2018 08:32

Intu pushes back offer deadline again

(Sharecast News) - Intu's suitors have made "substantial progress" towards financing a possible offer for the shopping centre owner but, needing a just a little more time, the deadline to make a formal offer has been pushed back again.

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22 Nov 2018 07:44

LONDON MARKET PRE-OPEN: Centrica On Track For Targets Despite Snags

LONDON (Alliance News) - Stock trading in London is set for a subdued start on Thursday, coming off a substantial gain on Wednesday, with Wall Street closed for the Thanksgiving holiday.Amid a day

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31 Oct 2018 07:52

Intu grants Peel-led consortium more time to bid

(Sharecast News) - Shopping centre owner Intu Properties on Wednesday said it had given a consortium led by its deputy chairman John Whittaker until November 15 to make an offer.

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31 Oct 2018 07:51

TOP NEWS: intu Extends Deadline For Consortium To Make Firm Offer

LONDON (Alliance News) - Intu Properties PLC said on Wednesday it has extended the deadline for a consortium of investors to make a firm offer for the company to November 15, from November the it

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23 Oct 2018 09:20

Intu cuts rental FY rental estimates after tenant failures

(Sharecast News) - Shopping centre owner Intu Properties, which is mulling a £2.8bn takeover offer, on Tuesday cut its full year like-for-like net rental income growth forecast, citing tenant failures.

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23 Oct 2018 07:44

LONDON MARKET PRE-OPEN: FTSE Seen Sub-7,000; Whitbread Profit Edges Up

LONDON (Alliance News) - The FTSE 100 index of London large-caps is called to open below the 7,000 mark on Tuesday, following risk-off trade in Asia overnight, with the focus on Brexit developments a

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19 Oct 2018 17:14

LONDON MARKET CLOSE: Stocks Finish Mixed As FTSE 100 Ends Week Higher

LONDON (Alliance News) - Stocks in London ended mixed on Friday with the FTSE 100 ending in the green with investors buying stocks following sharp declines, as concerns over rising interest rates, on

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19 Oct 2018 14:23

Intu bid approach 'well timed', says Berenberg

(Sharecast News) - Berenberg downgraded its stance on Intu Properties to 'hold' from 'buy' on Friday as it cut the price target down to 210p from 230p, in line with the indicative offer the shopping centre owner has received from a consortium led by one of its senior directors.

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19 Oct 2018 13:10

Friday broker round-up

(Sharecast News) - IP Group: Berenberg reiterates buy with a target price of 160p.

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