FTSE 250 movers: Synthomer tanks on profit warning; Capricorn gains
London’s FTSE 250 was down 3% at 16,805.73 in afternoon trade on Thursday.
Synthomer tanked as it warned on profits, highlighting deteriorating macroeconomic conditions since August and reduced demand due to de-stocking.
The group, which supplies aqueous polymers, now expects full-year earnings before interest, taxes, depreciation and amortisation to be 10% to 15% below its previous expectations.
Recruitment specialist Hays was on the back foot as it traded without entitlement to the dividend.
Capricorn Energy jumped to the top of the index after saying it was no longer going ahead with a planned merger with Tullow Oil and will instead be merging with Israel’s NewMed Energy.
Capricorn announced in June that it had agreed to be bought by Tullow in all-share deal. Under the terms of the transaction, Capricorn shareholders would have been be entitled to receive 3.8068 new Tullow shares for each of their shares.
However, Capricorn said on Thursday that under the terms of the new deal agreed with NewMed, its shareholders will own 10.3% of the enlarged group and receive a special dividend of $620m, equivalent to £1.72 a share.
Direct Line was boosted by an upgrade to ‘hold’ at HSBC.
FTSE 250 - Risers
Capricorn Energy (CNE) 249.20p 4.01%
PureTech Health (PRTC) 248.50p 3.97%
HICL Infrastructure (HICL) 159.00p 2.58%
Sequoia Economic Infrastructure Income Fund Limited (SEQI) 79.00p 2.20%
Jlen Environmental Assets Group Limited NPV (JLEN) 114.20p 2.15%
Indivior (INDV) 279.80p 2.04%
Direct Line Insurance Group (DLG) 181.25p 2.00%
GCP Infrastructure Investments Ltd (GCP) 92.80p 1.98%
The Global Smaller Companies Trust (GSCT) 125.20p 1.79%
Bluefield Solar Income Fund Limited (BSIF) 128.00p 1.59%
FTSE 250 - Fallers
Synthomer (SYNT) 86.90p -37.03%
Mitchells & Butlers (MAB) 119.50p -11.48%
Just Group (JUST) 55.50p -10.05%
Auction Technology Group (ATG) 636.00p -9.66%
Pets at Home Group (PETS) 263.40p -8.54%
Hays (HAS) 102.50p -7.91%
Games Workshop Group (GAW) 5,770.00p -7.75%
888 Holdings (DI) (888) 95.95p -7.65%
AJ Bell (AJB) 253.60p -7.65%
Watches of Switzerland Group (WOSG) 663.50p -7.46%