FTSE 250 movers: Marston's fizzes higher on Carslberg JV; AJ Bell slumps
London’s FTSE 250 was down 0.1% at 16,365.00 in afternoon trade on Friday.
Investment platform AJ Bell slid after fund manager Invesco sold a 7.6% stake in the company.
Go-Ahead was under pressure after the transport operator warned the Covid-19 outbreak and ongoing problems at its German rail franchise would hit full-year profits.
On the upside, Marston's shares fizzed higher as it announced the formation of a new joint venture partnership with Carlsberg UK to create a "best-in-class, brand-led UK brewer of scale" worth around £780m.
The FTSE 250 brewer and pub operator said on Friday that the deal values its brewing business at up to £580m and the Carlsberg UK brewing business £200.
Under the terms of the agreement, Marston’s will receive a 40% stake in Carlsberg Marston’s Brewing Company, and a cash equalisation payment of up to £273m.
Future was also higher after it said operating profits surged in an "exceptionally strong" first half despite the Covid-19 pandemic impacting trading at the end of the period.
Intellectual property developer IP Group was a high riser after saying its portfolio company Oxford Nanopore Technologies was in advanced development of a new generation of end-to-end test (assay) for the detection of the virus that causes Covid-19.
FTSE 250 - Risers
Marston's (MARS) 53.85p 65.39%
Future (FUTR) 1,198.00p 9.71%
Trainline (TRN) 529.50p 6.71%
Avast (AVST) 505.50p 5.36%
IP Group (IPO) 61.00p 5.35%
Bakkavor Group (BAKK) 73.00p 4.29%
Biffa (BIFF) 233.50p 4.24%
Helios Towers (HTWS) 133.40p 3.41%
Kainos Group (KNOS) 884.00p 3.39%
Micro Focus International (MCRO) 420.20p 3.22%
FTSE 250 - Fallers
AJ Bell (AJB) 385.00p -13.68%
Go-Ahead Group (GOG) 1,091.00p -11.23%
Aston Martin Lagonda Global Holdings (AML) 34.70p -6.22%
FirstGroup (FGP) 52.95p -5.11%
Wood Group (John) (WG.) 186.10p -4.98%
Greencore Group (GNC) 125.70p -4.92%
WH Smith (SMWH) 952.00p -4.32%
Investec (INVP) 147.80p -4.18%
St. Modwen Properties (SMP) 312.00p -4.15%
McCarthy & Stone (MCS) 65.00p -3.56%