FTSE 250 movers: Merlin rallies after update; Brewin drops as FD steps down
London’s FTSE 250 was up 0.6% to 20,252.28 in afternoon trade on Friday, as investors digested weak first-quarter UK GDP data.
Merlin Entertainments was a high riser after saying it remains confident of a recovery over time as visits to its London attractions continued to be hit by the 2017 terror attacks.
Steve Clayton, manager of the HL Select UK Growth Shares fund, which holds a 2.6% position in Merlin, said: "Merlin remains the world’s number two operator of tourist attractions and well placed to benefit from the growth of consumer spending globally. The shares have made little progress since listing in 2013 as a result of the headwinds the group has faced.
"Now though, the future looks set to brighten up, with analysts forecasting the group to return to strong growth from 2019 onwards. The shares look attractive, trading well below their average rating, but much will depend on the outcome of the all-important summer season for the group."
Computacenter rose after hailing a better-than-expected first quarter, with revenue up 23%, while Hunting was boosted by an upgrade to ‘hold’ from ‘sell’ at Investec.
Wealth manager Brewin Dolphin was in the red after announcing that Andrew Westenberger will step down as finance director on 16 May "by mutual agreement to pursue other interests".
The company also took the opportunity to give a very brief update on trading, saying that the business continues to perform in line with expectations, with continuing growth in income and profitability.
FTSE 250 - Risers
Hikma Pharmaceuticals (HIK) 1,325.50p 5.11%
Merlin Entertainments (MERL) 363.10p 4.73%
BTG (BTG) 685.50p 4.26%
Inmarsat (ISAT) 383.30p 3.59%
Computacenter (CCC) 1,268.00p 3.43%
Hunting (HTG) 820.00p 3.40%
Polar Capital Technology Trust (PCT) 1,160.00p 2.65%
Alfa Financial Software Holdings (ALFA) 355.06p 2.62%
Card Factory (CARD) 240.71p 2.60%
Sirius Minerals (SXX) 30.50p 2.56%
FTSE 250 - Fallers
Ferrexpo (FXPO) 233.50p -2.51%
Kaz Minerals (KAZ) 899.60p -1.81%
Just Group (JUST) 140.50p -1.61%
Tullow Oil (TLW) 229.20p -1.50%
Brewin Dolphin Holdings (BRW) 358.00p -1.49%
Drax Group (DRX) 314.80p -1.19%
Intu Properties (INTU) 196.75p -1.11%
Weir Group (WEIR) 2,155.00p -1.06%
Marston's (MARS) 107.55p -0.88%
HICL Infrastructure Company Ltd (HICL) 144.00p -0.76%