FTSE 250 movers: Aston Martin slumps; Crest Nicholson gains

(Sharecast News) - London's FTSE 250 was down 1.6% at 15,919.03 in afternoon trade on Wednesday.
Luxury car maker Aston Martin slid after it pulled its guidance and posted a widening of losses in the first quarter due to the coronavirus outbreak. In the three months to the end of March, pre-tax losses widened to ?118.9m from ?17.3m in the first quarter of 2019, with revenue down 60% to ?78.6m.

The company said the Covid-19 outbreak dented dealer demand for cars, adding to the planned wholesales unit decline as it decreased dealer inventory towards a luxury norm.

It also hinted at the possibility of more fundraising following its ?536m cash injection in April, "given the ongoing uncertainties", saying it was reviewing all future funding and refinancing options to increase liquidity.

Pub group Marston's fizzed lower as broker Liberum slashed its price target on the stock to 65p from 130p. It also cut FY20 and FY21 EBITDA estimates by 51.8% and 22.1%, respectively, based on its assumption that all pubs remain closed for three months and subsequently trade at 50% for a further three.

Still, it said the business will survive and its beer gardens and national footprint will help it to rebound faster than more high street focussed pub companies as the lockdown eases.

Vesuvius was under the cosh after the steel industry engineer reported a sharp fall in April sales and pulled guidance as global lockdowns to contain the Covid-19 outbreak resulted in "significant disruption" to its business.

Retirement housebuilder McCarthy & Stone rallied, while Crest Nicholson gained after saying it would begin a phased restart of work on its sites from May 18 as the government's coronavirus lockdown measures eased.



FTSE 250 - Risers

Pets at Home Group (PETS) 255.20p 8.23%
Barr (A.G.) (BAG) 479.50p 4.13%
Energean Oil & Gas (ENOG) 606.00p 3.77%
AJ Bell (AJB) 443.00p 3.75%
B&M European Value Retail S.A. (DI) (BME) 351.20p 3.29%
McCarthy & Stone (MCS) 72.60p 3.27%
Howden Joinery Group (HWDN) 536.80p 3.11%
Hyve Group (HYVE) 13.84p 2.67%
Crest Nicholson Holdings (CRST) 234.80p 2.53%
Trainline (TRN) 364.00p 2.48%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 33.14p -12.88%
Cineworld Group (CINE) 55.28p -12.78%
Provident Financial (PFG) 149.20p -10.44%
BMO Commercial Property Trust Limited (BCPT) 56.30p -10.06%
Coats Group (COA) 41.00p -9.69%
Senior (SNR) 50.05p -9.17%
Marston's (MARS) 29.00p -8.86%
PayPoint (PAY) 708.00p -8.53%
Vesuvius (VSVS) 352.00p -8.09%
Weir Group (WEIR) 870.40p -7.64%