FTSE 250 movers: Great Portland surges on KKR stake; William Hill slumps
London’s FTSE 250 was up 1.9% at 17,374.02 in afternoon trade on Monday.
Great Portland Estates surged after private equity firm KKR bought a stake in the property company. According to a regulatory filing out late on Friday, KKR has taken a 5.35% stake.
The news provided a much-needed boost, with property stocks having taken a big hit from the coronavirus pandemic as tenants struggle to pay their rents due to store closures, while a push to home working has affected office spaces.
Peer Shaftesbury was also on the rise.
Going the other way, William Hill was weaker after it and Caesars Entertainment confirmed they were in advanced talks on a £2.9bn cash offer for the UK bookmaker. The shares had already risen sharply on Friday on news of a deal.
FTSE 250 - Risers
Great Portland Estates (GPOR) 620.60p 12.35%
Shaftesbury (SHB) 517.50p 8.45%
Rank Group (RNK) 99.00p 8.32%
Close Brothers Group (CBG) 1,021.00p 7.87%
Paragon Banking Group (PAG) 327.20p 7.84%
Carnival (CCL) 989.00p 7.66%
Investec (INVP) 135.90p 6.59%
Trainline (TRN) 378.00p 6.48%
Crest Nicholson Holdings (CRST) 190.70p 6.30%
National Express Group (NEX) 146.90p 6.22%
FTSE 250 - Fallers
William Hill (WMH) 274.70p -12.01%
Indivior (INDV) 117.20p -3.93%
Network International Holdings (NETW) 280.20p -3.38%
Genus (GNS) 3,850.00p -1.13%
Convatec Group (CTEC) 176.80p -1.06%
Kainos Group (KNOS) 1,010.00p -0.98%
UDG Healthcare Public Limited Company (UDG) 761.50p -0.78%
Fisher (James) & Sons (FSJ) 1,144.00p -0.52%
888 Holdings (888) 206.50p -0.48%
Watches of Switzerland Group (WOSG) 318.50p -0.47%