Saga Regulatory News (SAGA)

8 Apr 2019 15:57

(Sharecast News) - London's FTSE 250 index was 0.09% lower at 19,520.63 in afternoon trade on Monday, as Saga dragged the index lower.The over-50s holidays and insurance specialist was hit by a downgrade to 'neutral' from 'buy' at UBS, with the stock's target price also slashed from 150p to 65p, following a profit warning, dividend cut and strategy change last week. "Since its IPO, Saga has now profit warned twice and removed its medium term earnings growth guidance. We find further execution risks around the new strategy, which we expect to weigh on the PE multiple," said the note. Aston Martin Lagonda was knocked lower by a downgrade to 'hold' from 'buy' at Deutsche Bank, with its target price cut from 2,000p to 1,000p in anticipation of volatility in auto markets and Brexit-related uncertainty weighing on sales momentum. "In line with the previous company communication, we have been of the view that Aston Martin would be less exposed to end-market volatility, but we revise our view, on the back of a slowdown in Aston's key markets, Germany and the UK, weighing on sales momentum," said Deutsche Bank analysts. Anti opioid addiction drug manufacturer Indivior advanced after disclosing that a clinical study had shown that patients with moderate to severe opioid-use disorder may benefit from a higher maintenance dose of its Sublocade monthly injection for the treatment of moderate-to-severe opioid use disorder. Bakkavor climbed after chief executive Agust Gudmundsson said he expected an uplift in UK revenues as the ready meals maker begins to benefit from recently secured new business, while 888 Holdings was higher as it confirmed that it is seeking approval to repurchase 10% of its shares. Finally, Energean Oil and Gas gained as it announced the successful completion of drilling operations of the extended reach well EA-H3 at Epsilon. Market Movers FTSE 250 (MCX) 19,520.63 -0.09% FTSE 250 - Risers Indivior (INDV) 105.30p 6.19%Bakkavor Group (BAKK) 133.50p 5.45%Amigo Holdings (AMGO) 225.44p 3.89%888 Holdings (888) 161.50p 2.93%Ferrexpo (FXPO) 287.10p 2.54%Energean Oil & Gas (ENOG) 785.00p 2.21%Greencore Group (GNC) 208.10p 2.16%Premier Oil (PMO) 102.35p 2.09%Acacia Mining (ACA) 202.80p 2.06%Provident Financial (PFG) 510.20p 2.04% FTSE 250 - Fallers Saga (SAGA) 61.27p -7.86%Senior (SNR) 220.80p -5.64%Aston Martin Lagonda Global Holdings (AML) 958.42p -5.61%Kier Group (KIE) 343.79p -4.50%Royal Mail (RMG) 246.65p -3.08%Redrow (RDW) 628.70p -2.96%Dixons Carphone (DC.) 140.55p -2.26%Stagecoach Group (SGC) 136.20p -1.94%Mediclinic International (MDC) 315.20p -1.90%Just Group (JUST) 63.85p -1.77%