WINNERS & LOSERS: Bluefield Solar, easyJet rally on takeover moves

Mon, 01st Jun 2026 10:34

(Alliance News) - The following are the leading risers and fallers among FTSE 100 and 250 index constituents on Monday.

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FTSE 100 winners

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Entain PLC, up 3.5% at 552.50p

JD Sports Fashion PLC, up 2.5% at 86.36p, completes first GBP100 million tranche of GBP200m buyback

Halma PLC, up 2.3% at 4,791.00p, Goldman Sachs ups price target to 5,060p from 4,290p, retains 'buy'

Glencore PLC, up 2.3% at 580.90p

J Sainsbury PLC, up 2.0% at 302.35p

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FTSE 100 losers

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Endeavour Mining PLC, down 2.9% at 4,460.00p, tracking lower gold prices

BAE Systems PLC, down 2.2% at 1,978.00p, defence stocks come under pressure

Convatec Group PLC, down 2.2% at 197.80p

Babcock International Group PLC, down 2.2% at 1,072.75p

Fresnillo PLC, down 2.2% at 3,215.00p

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FTSE 250 winners

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Bluefield Solar Income Fund Ltd, up 16% at 91.30p, agrees to GBP548 million cash offer from Drax

Applied Nutrition PLC, up 11% at 270.75p, lifts sales view, expands US manufacturing footprint

easyJet PLC, up 10% at 439.05p, reacts to "highly opportunistic" approach from Castlelake

Aston Martin Lagonda Global Holdings PLC, up 4.3% at 46.35p

Softcat PLC, up 2.7% at 1,784.50p

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FTSE 250 losers

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ME Group International PLC, down 25% at 109.60p, trading softens in April

Pan African Resources PLC, down 11% at 122.95p, annual production disappoints

AEP Plantations PLC, down 8.1% at 1,598.00p

Wag Payment Solutions PLC, down 4.3% at 112.50p

C&C Group PLC, down 3.2% at 96.00p

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FTSE 100 & 250 movers in focus:

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Bluefield Solar Income Fund Ltd, up 16% at 91.30 pence, 12-month range 65.89p-99.00p. Agrees to a GBP548 million cash takeover by Drax Group. The solar energy investment fund says shareholders will receive 92.57p per share in cash and retain the second interim dividend of 2.25p per share, valuing the offer at 94.82p per share. Adds the proposal represents a 31% premium to Bluefield's share price before the offer period began and implies an enterprise value of around GBP1.08 billion.

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Applied Nutrition PLC, up 11% at 270.75 pence, 12-month range 123.20p-279.50p. Lifts guidance for the year ending July 31, now expecting revenue of around GBP148 million, ahead of market expectations of GBP140.3 million, while forecasting adjusted Ebitda of GBP39.5 million, in line with consensus. The Liverpool-based sports nutrition company also agrees to acquire the trade and majority of assets of US manufacturer Nutrablend Group for USD16 million in cash, including a manufacturing and warehousing facility in Buffalo, New York. Applied Nutrition expects the acquisition to be earnings enhancing in financial 2027. Separately, it signs a North American licensing agreement with Mondelez International to develop and manufacture sports nutrition products under the Sour Patch Kids and Swedish Fish brands, with launches planned for August 2026 across Walmart and GNC stores.

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easyJet PLC, up 10% at 439.05 pence, 12-month range 332.60p-590.60p. Says it has not been approached by or held discussions with Castlelake LP. following the investor's disclosure that it is considering a possible takeover offer. Castlelake says it holds a 2.14% stake in easyJet and, under UK takeover rules, any offer would need to be at no less than 403.23 pence per share. It must announce a firm intention to make an offer or walk away by June 26. easyJet describes the timing of the announcement as "highly opportunistic", arguing its share price has been temporarily depressed by the Middle East conflict and higher jet fuel prices. Before the Iran conflict erupted on February 28, easyJet shares had closed at 464.00p on February 27. The airline also highlights the regulatory and financial challenges of any takeover, saying it remains focused on its medium-term target of delivering more than GBP1 billion in pretax profit and is supported by an investment-grade balance sheet and net cash position. Castlelake says there can be no certainty that an offer will be made.

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ME Group International PLC, down 25% at 109.60 pence, 12-month range 106.00p-237.50p. Reports 2% revenue growth in the six months to April 30 but flags weaker trading in April, particularly across its French photobooth and laundry operations. The company says lower consumer confidence and shifts in spending behaviour linked to the conflict in the Middle East weighed on performance. While trading recovered in May, ME Group cautions that conditions are unlikely to fully normalise while geopolitical and macroeconomic uncertainty persists. It now expects full-year pretax profit of GBP69 million to GBP74 million and says its laundry expansion programme remains on track, with more than 1,300 Wash.ME machines planned for installation in financial 2026.

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Pan African Resources PLC, down 11% at 122.95 pence, 12-month range 44.10p-190.40p. Says annual gold production is expected at the lower end of guidance following a slower-than-anticipated ramp-up at Tennant Mines. The gold producer forecasts output of around 275,000 ounces for the year ending June 30, up 40% from 196,527 ounces a year earlier but at the bottom of its 275,000 to 292,000-ounce target range. Adds it expects all-in sustaining costs of around USD1,870 per ounce and guides for 2027 production of between 280,000 and 302,000 ounces.

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By Eva Castanedo, Alliance News reporter

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