FTSE 250 movers: Playtech pushes higher; Cineworld hit by downgrade
London’s FTSE 250 was up 1.4% at 17,280.35 in afternoon trade on Monday.
Gambling software company Playtech rallied after saying it has been granted regulatory approval by the New Jersey Division of Gaming Enforcement (DGE) to provide its casino product to the NJ market.
Playtech will launch soon in New Jersey under its transactional waiver with bet365 and Hard Rock Atlantic City.
Property developer Hammerson was up after saying its flagship locations in England would reopen from June 15, as the government relaxed its coronavirus lockdown guidance. The move would follow the reopening of four venues in France last month. Hammerson said across its premium outlets portfolio, nine of the 11 VIA Outlets, a joint venture with APG, were trading.
On the downside, Cineworld was weaker after a downgrade to ‘underweight’ at Morgan Stanley, which argued that the recent relief rally was overdone.
GCP Student Living was knocked lower by a downgrade to ‘hold’ from ‘buy’ at Berenberg.
"With the Covid-19 crisis now likely to affect the start of the 2020-21 academic year this September, we think there is potential risk for GCP," it said.
"In our view, there are a number of likely headwinds, including a reduction in premium room rates in buildings designed to cater for international students due to a fall in enrolments."
FTSE 250 - Risers
Airtel Africa (AAF) 37.45p 10.15%
Helios Towers (HTWS) 162.00p 7.86%
Playtech (PTEC) 284.00p 7.29%
SSP Group (SSPG) 294.80p 5.66%
Wood Group (John) (WG.) 203.00p 5.59%
Equiniti Group (EQN) 140.60p 5.40%
Hammerson (HMSO) 77.36p 5.11%
Rank Group (RNK) 150.00p 4.75%
Serco Group (SRP) 132.70p 4.65%
Capita (CPI) 35.36p 4.52%
FTSE 250 - Fallers
Hyve Group (HYVE) 86.00p -11.15%
Cineworld Group (CINE) 78.08p -7.49%
Paragon Banking Group (PAG) 334.80p -5.48%
Bakkavor Group (BAKK) 74.00p -5.13%
Coats Group (COA) 51.60p -4.27%
Stagecoach Group (SGC) 64.85p -4.21%
GCP Student Living (DIGS) 133.00p -4.04%
Senior (SNR) 59.50p -4.03%
Aston Martin Lagonda Global Holdings (AML) 52.95p -3.99%
UK Commercial Property Reit Limited (UKCM) 59.60p -3.72%