FTSE 250 movers: AO World surges; Rank in the red
London’s FTSE 250 was down 0.1% at 17,230.14 in afternoon trade on Thursday.
Rank Group was weaker after agreeing to sell its Belgian casino business, Blankenberge, to Kindred Group for £25m.
Rank said net proceeds from the disposal will be used to reduce its net debt position and for general corporate purposes. The sale will also support management's focus on Rank's transformation 2.0 programme to drive improvement across its core businesses, it said.
The company was also in focus as Sky News reported that it faces a major shareholder revolt over boardroom pay next month, despite its chief executive taking a big salary cut in the first phase of the pandemic.
According to Sky, a number of large institutional investors in Rank, which owns the Mecca bingo and Grosvenor brands, are planning to stage a protest over its remuneration report and future pay policy at the annual general meeting.
Going the other way, online electricals retailer AO World was the top gainer, probably boosted by expectations of a second national lockdown and an increase in demand.
FTSE 250 - Risers
AO World (AO.) 360.50p 7.77%
Cineworld Group (CINE) 25.96p 6.74%
Diversified Gas & Oil (DGOC) 110.60p 3.75%
Petropavlovsk (POG) 26.55p 3.11%
Ferrexpo (FXPO) 186.40p 2.64%
Capita (CPI) 24.60p 2.63%
Crest Nicholson Holdings (CRST) 222.80p 2.58%
easyJet (EZJ) 500.00p 2.48%
Biffa (BIFF) 209.50p 2.44%
Computacenter (CCC) 2,276.00p 2.43%
FTSE 250 - Fallers
JPMorgan Euro Small Co. Trust (JESC) 378.00p -4.30%
Babcock International Group (BAB) 213.70p -4.13%
Micro Focus International (MCRO) 218.70p -4.08%
FirstGroup (FGP) 41.80p -3.82%
Vesuvius (VSVS) 392.20p -3.78%
Investec (INVP) 146.45p -3.40%
Fisher (James) & Sons (FSJ) 1,140.00p -3.23%
Aston Martin Lagonda Global Holdings (AML) 53.35p -3.00%
Rank Group (RNK) 87.50p -2.78%
Victrex plc (VCT) 1,849.00p -2.48%