FTSE 250 movers: Cineworld loses ground; Aston Martin rallies
London’s FTSE 250 was down 0.1% at 17,263.63 in afternoon trade on Wednesday.
Payment solutions provider Network International was sharply lower after it raised around £205m in a discounted placing to buy African online commerce platform DPO Group. The shares were placed at 410p each, which is an 8.9% discount to the closing share price of 450p on Tuesday.
Cineworld was under the cosh after US cinema chain AMC Entertainment and Universal Pictures reached a multi-year agreement that will result in films playing in theatres for less time.
The deal will shorten theatrical exclusivity for all Universal Pictures and Focus Features from 75 days to 17 days, at which time the studio will be able to choose to make its titles available across premium video on demand platforms.
Lancashire was weaker after the release of its second-quarter numbers, while housebuilders Redrow and Vistry fell after disappointing results from FTSE 100 peer Taylor Wimpey.
On the upside, luxury carmaker Aston Martin was the standout gainer as it said losses widened in the first half as Covid-related factory closures hit already-struggling sales, but pointed to signs of a recovery in China in June.
The company reported pre-tax losses of £227.4m from £80m a year earlier on revenue that plunged 64% to £146m. Retail sales fell 41%, while wholesale figures were down 63% year-on-year. In China, where all dealerships re-opened in June, retail sales rose 11% year-on-year for the month.
Rathbone Brothers and Wizz Air were both trading higher after results, along with Jupiter Fund Management.
FTSE 250 - Risers
Aston Martin Lagonda Global Holdings (AML) 55.15p 11.23%
Rathbone Brothers (RAT) 1,660.00p 9.50%
Perpetual Income & Growth Inv Trust (PLI) 231.00p 5.96%
Pets at Home Group (PETS) 254.40p 4.26%
Greencore Group (GNC) 129.10p 4.03%
Wizz Air Holdings (WIZZ) 3,526.00p 3.77%
Jupiter Fund Management (JUP) 240.00p 3.63%
Apax Global Alpha Limited (APAX) 160.40p 3.08%
PureTech Health (PRTC) 277.50p 2.97%
Scottish Inv Trust (SCIN) 775.00p 2.79%
FTSE 250 - Fallers
Network International Holdings (NETW) 398.40p -11.51%
Cineworld Group (CINE) 37.96p -11.39%
Countryside Properties (CSP) 287.80p -7.87%
Lancashire Holdings Limited (LRE) 762.50p -5.98%
Go-Ahead Group (GOG) 663.50p -5.75%
Moneysupermarket.com Group (MONY) 292.60p -4.88%
Redrow (RDW) 438.20p -4.78%
Vistry Group (VTY) 636.50p -4.72%
AO World (AO.) 162.00p -4.71%
Hammerson (HMSO) 63.80p -4.58%