Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Workspace Group and Softcat fall sharply
(Sharecast News) - London-focused office, industrial and workshop space provider Workspace Group saw a big drop in its share price on Tuesday after swing to a big loss in the first half of the year as a result of a £178m reduction in valuations. The company reported a loss before tax of £147.9m for the six months to 30 September, compared with a profit of £35.8m profit the year before. By the end of the period, Workspace's properties were valued at £2.51bn, down 6.6% on an underlying basis compared with the end of the previous fiscal year.
Also lower was Softcat after JP Morgan downgraded its rating on the stock from 'neutral' to 'underweight', saying that the IT infrastructure and services provider's slow earnings growth doesn't justify the stock's premium valuation.
On the upside, insurer Direct Line was among the best performers of the day after analysts at Citi reiterated a 'buy' rating on the stock, pointing to "material improvements" in motor claims inflation trends for the sector since the first half.
Food producer Cranswick was also higher after saying that adjusted pre-tax profit for the year to the end of March is set to be at the upper end of market consensus as it posted a jump in interim profit and revenue amid "resilient" demand.
Energy stocks were struggling, with Harbour Energy, Ceres Power and Drax Group firmly in the red, along with energy investment firm Foresight Group.
FTSE 250 - Risers
Baltic Classifieds Group (BCG) 217.00p 3.33% Direct Line Insurance Group (DLG) 189.75p 2.90% Cranswick (CWK) 3,746.00p 2.80% 888 Holdings (DI) (888) 81.75p 1.93% QinetiQ Group (QQ.) 321.20p 1.90% Crest Nicholson Holdings (CRST) 189.70p 1.77% Auction Technology Group (ATG) 610.00p 1.50% Intermediate Capital Group (ICP) 1,553.50p 1.40% North Atlantic Smaller Companies Inv Trust (NAS) 3,940.00p 1.29% Games Workshop Group (GAW) 10,960.00p 1.11%
FTSE 250 - Fallers
Workspace Group (WKP) 546.50p -7.37% Foresight Group Holdings Limited NPV (FSG) 404.00p -4.04% Syncona Limited NPV (SYNC) 119.80p -3.85% Harbour Energy (HBR) 225.20p -3.72% Ceres Power Holdings (CWR) 212.00p -3.64% Drax Group (DRX) 434.10p -3.58% Jupiter Fund Management (JUP) 83.20p -3.26% Johnson Matthey (JMAT) 1,461.00p -3.18% Close Brothers Group (CBG) 766.00p -3.10% Softcat (SCT) 1,262.00p -3.07%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
