FTSE 250 movers: Moneysupermarket dips, EI Group fizzes higher
London’s FTSE 250 was down 0.33% at 19,548.86 in afternoon trade on Thursday, with Moneysupermarket leading the index lower.
Shares of the price comparison website fell after reporting a slowdown in sales growth as second-quarter organic growth dropped to 6% from 7% and 13% in the previous two quarters.
Analysts at Liberum said: "Overall - we are happy with the results, the one caveat is that, with the share price price performance being so stronmg recently, there may be some profit taking on the likely lack of consensus downgrades."
Meanwhile, guarantor loans lender Amigo Holdings also took a hit as its stock went ex-dividend.
At the other end of the index, EI Group saw its shares surge after it agreed to be bought by Slug & Lettuce owner Stonegate for £1.3bn.
Russ Mould, investment director at AJ Bell, said: "The timing was perfect as its estate was cleaned up just in time for EI to be in prime position to benefit from a structural shift in the market from food to drinks-led demand. EI is all about the latter and so it is perhaps no surprise that one of its closest rivals thought it was time to join forces."
"The shares were trading at 27p in January 2012 and Stonegate is now offering 285p cash per share – implying an incredible 955% return for any investor who held the stock during its darkest times."
The news sent the rest of the pub sector fizzing higher, with Wetherspoon, Restaurant Group and Greene King all also among the index's top risers.
Hochschild Mining also shone as it said it was "firmly on track" to meet full-year production after its strong start to 2019 continued with the miner reporting second quarter attributable production of 123,959 gold equivalent ounces.
Finally, gaming group GVC Holdings inched higher after it agreed to dispose of its 50% interest in Spanish business Sportium Apuestas Deportivas to its joint venture partner, Cirsa.
FTSE 250 (MCX) 19,548.86 -0.33%
FTSE 250 - Risers
EI Group (EIG) 285.00p 38.48%
Wetherspoon (J.D.) (JDW) 1,514.00p 3.34%
Metro Bank (MTRO) 488.00p 3.17%
Syncona Limited NPV (SYNC) 240.50p 3.00%
Restaurant Group (RTN) 146.60p 2.81%
NewRiver REIT (NRR) 167.77p 2.67%
Hochschild Mining (HOC) 207.60p 2.37%
National Express Group (NEX) 417.20p 2.36%
GVC Holdings (GVC) 616.00p 2.22%
Greene King (GNK) 656.40p 1.86%
FTSE 250 - Fallers
Moneysupermarket.com Group (MONY) 380.10p -5.42%
Aggreko (AGK) 781.80p -4.24%
Amigo Holdings (AMGO) 172.60p -4.00%
Avast (AVST) 335.49p -2.98%
Dixons Carphone (DC.) 118.75p -2.94%
IWG (IWG) 352.80p -2.86%
Weir Group (WEIR) 1,428.00p -2.69%
Sports Direct International (SPD) 225.48p -2.64%
IMI (IMI) 989.92p -2.57%
Ferrexpo (FXPO) 261.70p -2.46%