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FTSE 250 movers: GPE and Babcock retreat
(Sharecast News) - London's FTSE 250 was down 1.5% at 18,393.54 in afternoon trade on Thursday. Lancashire Holdings was under the cosh as it traded without entitlement to the dividend.
Great Portland Estates was also weaker as it reported robust leasing activity in its first half, surpassing estimated rental values (ERV) by 13.4%, but said its portfolio value fell by more than 10%.
The company reported a 10.3% decline in valuation, primarily driven by yield, but countered that with an increase of 1.8% in estimated rental values (ERVs).
Babcock lost ground even as Bank of America Merrill Lynch reiterated its 'buy' rating on the stock after "solid" first-half results.
"We reiterate our buy rating on attractive valuation, margin expansion & cap allocation optionality," it said.
FTSE 250 - Risers
FDM Group (Holdings) (FDM) 398.00p 3.92% CAB Payments Holdings (CABP) 63.55p 3.17% Kainos Group (KNOS) 1,006.00p 2.39% IP Group (IPO) 51.50p 1.98% Ninety One (N91) 175.60p 1.74% Foresight Solar Fund Limited (FSFL) 96.80p 1.36% Helios Towers (HTWS) 75.55p 1.07% Hammerson (HMSO) 27.28p 1.04% easyJet (EZJ) 432.40p 1.03% Digital 9 Infrastructure NPV (DGI9) 50.80p 0.99%
FTSE 250 - Fallers
Lancashire Holdings Limited (LRE) 622.00p -7.65% QinetiQ Group (QQ.) 326.20p -6.96% Babcock International Group (BAB) 400.40p -4.89% Harbour Energy (HBR) 230.20p -4.76% Watches of Switzerland Group (WOSG) 586.00p -4.33% Great Portland Estates (GPE) 426.00p -4.31% Close Brothers Group (CBG) 756.00p -4.18% Marshalls (MSLH) 223.60p -4.12% Wetherspoon (J.D.) (JDW) 712.50p -3.72% 888 Holdings (DI) (888) 80.00p -3.56%
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