FTSE 250 movers: Frasers Group slumps; Dunelm boosted by upgrade
London’s FTSE 250 was down 0.2% at 19,419.31 in afternoon trade on Monday.
Frasers Group, formerly Sports Direct, was on the back foot as it confirmed that Philip Green’s Arcadia retail group has rejected its offer of a lifeline loan of up to £50m.
The company said it was not given any reasons for the rejection, nor did it have any engagement from Arcadia before the loan was declined.
Frasers had said earlier that should efforts to agree an emergency funding package fail and Arcadia fell into administration, it "would be interested in participating in any sale process".
Homeware retailer Dunelm rallied after RBC Capital Markets upgraded its stance on the shares to ‘outperform’ from ‘sector perform’, saying the recent pullback provides a buying opportunity.
RBC noted the share price has come off around 20% in the past month on store closures and rotation out of so-called ‘Covid beneficiaries’.
"We think it provides a more attractive entry point to buy a growing, well-managed retailer with a range advantage and which is well placed to make further enhanced cash returns to shareholders," it said.
FTSE 250 - Risers
Hipgnosis Songs Fund Limited C Shs NPV (SONC) 110.00p 5.26%
Henderson Smaller Companies Inv Trust (HSL) 976.00p 4.16%
CMC Markets (CMCX) 389.50p 4.14%
AJ Bell (AJB) 420.00p 3.70%
Dunelm Group (DNLM) 1,224.00p 3.38%
Britvic (BVIC) 829.00p 2.92%
National Express Group (NEX) 225.00p 2.74%
Petrofac Ltd. (PFC) 157.25p 2.68%
GCP Student Living (DIGS) 144.60p 2.55%
Diploma (DPLM) 2,110.00p 2.53%
FTSE 250 - Fallers
Ninety One (N91) 211.00p -6.47%
Capita (CPI) 41.84p -6.08%
Frasers Group (FRAS) 421.20p -5.81%
Avon Rubber (AVON) 4,240.00p -5.57%
Carnival (CCL) 1,340.00p -5.17%
Mediclinic International (MDC) 279.80p -5.09%
Babcock International Group (BAB) 338.50p -5.02%
AO World (AO.) 342.50p -4.73%
TI Fluid Systems (TIFS) 221.75p -4.58%
Airtel Africa (AAF) 77.70p -4.31%