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FTSE 250 movers: Hochschild shines after upgrade; TUI travels lower

Mon, 12th Oct 2020 14:58

(Sharecast News) - London's FTSE 250 was up 0.6% at 18,188.64 in afternoon trade on Monday.
Sanne and Hochschild were both boosted by upgrades to 'outperform' from 'sector perform' at RBC Capital Markets.

On alternative asset services firm Sanne, RBC said that while it continues to forecast slightly slower organic growth in 2021, reflecting some impact on new business wins and the pace of onboarding, medium-term structural drivers in the alternatives segment are robust.

"We expect the trend in outsourcing, increased regulation, the growth in allocation to alternatives and the growth in assets under management to continue to drive high single digit organic growth rates," it said.

As far as gold miner Hochschild is concerned, it said: "Record H2 drilling campaign and a scoping study on the new rare earths' project give rise to a strong six months of potential catalysts for this producer with strong leverage to gold prices and exploration success."

Travel company TUI, Upper Crust owner SSP, pub chain Mitchells & Butlers and Cineworld all lost ground as tighter restrictions for some parts of England were set to be announced.

Cruise operator Carnival was also weaker after it cancelled all cruises scheduled for November for six of its ships operating from PortMiami and Port Canaveral, Florida.



FTSE 250 - Risers

Sanne Group (SNN) 682.00p 9.29%
Beazley (BEZ) 346.80p 5.80%
Virgin Money UK (VMUK) 89.30p 5.23%
TI Fluid Systems (TIFS) 180.00p 4.64%
Henderson Smaller Companies Inv Trust (HSL) 858.00p 4.38%
SDL (SDL) 730.00p 4.29%
Man Group (EMG) 121.35p 3.81%
Hochschild Mining (HOC) 251.00p 3.80%
Pagegroup (PAGE) 415.00p 3.75%
Jupiter Fund Management (JUP) 247.80p 2.91%

FTSE 250 - Fallers

TUI AG Reg Shs (DI) (TUI) 293.40p -5.17%
SSP Group (SSPG) 199.50p -4.45%
Mitchells & Butlers (MAB) 141.40p -4.07%
National Express Group (NEX) 168.00p -3.95%
Cineworld Group (CINE) 28.64p -3.50%
PureTech Health (PRTC) 241.50p -3.40%
Wood Group (John) (WG.) 213.50p -3.35%
Energean (ENOG) 557.20p -3.31%
Carnival (CCL) 1,008.00p -3.22%
Clarkson (CKN) 2,380.00p -2.86%

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