FTSE 250 movers: FirstGroup surges; M&B fizzes lower
First group Sky News reported that EQT Infrastructure had joined the race for the London-listed transport company’s US operations for £ 2.5 billion.
On the bottom, IP group collapsed after Invesco sold 61.9 million shares in the company in a placement.
According to trading, the shares were sold at 100.5 pence each. That was the lower end of the original forecast of between 100.5 pence and 103 pence and a discount of around 9.5% on Wednesday’s closing price.
Train line fell after it was revealed to be selling £ 150m worth of convertible bonds to prop up its finances against a possible prolonged decline in ticket sales from Covid-19. The online travel ticket platform said its banks have agreed to extend a waiver of a contract for a year once the bond issue has been executed, which gives it more leeway.
Mitchells & Butlers withdrew after saying it planned to raise capital from shareholders without pubs trading and the company burned up to £ 40 million in cash a month during the Covid-19 lockdown. Rival JD Wetherspoon also lost ground
Wizz Air was in the red after the bulk of its flights to the UK were canceled in January due to the latest lockdown. Co-budget airline easyJet also flew lower.
TP Icap was on the decline after the start of a rights issue to finance the takeover of Liquidnet.
FTSE 250 Riser
First group (FGP) 76.30p 8.30%
Energean (ENOG) 869.70p 8.17%
Network International Holdings (NETW) 317.00p 4.41%
Chemring Group (CHG) 299.50p 3.28%
Future (FUTR) 1,846.00p 3.13%
Petropavlovsk (POG) 34.20p 3.01%
Playtech (PTEC) 451.80p 2.78%
Ferrexpo (FXPO) 342.40p 2.51%
Signature Aviation (SIG) 410.00p 2.50%
Pantheon International (PIN) 2,540.00 p 2.42%
FTSE 250 – Faller
IP Group (IPO) 101.40p -8.65%
Train line (TRN) 437.20p -8.38%
Mitchells & Butlers (MAB) 224.50p -5.47%
easyJet (EZJ) 766.20p -4.15%
Wizz Air Holdings (WIZZ) 4,288.00p -4.07%
TP ICAP (TCAP) 237.60p -3.65%
Landscape Properties (CSP) 446.00p -3.04%
Pets at Home Group (PETS) 420.40p -2.95%
Wetherspoon (JD) (JDW) 1,061.00 p -2.84%
Derwent London (DLN) 3,076.00 p -2.78%