FTSE 250 movers: G4S sinks but Indivior rises on courtroom drama
By Duncan Ferris
Date: Friday 14 Dec 2018
(Sharecast News) - London's FTSE 250 was down 0.84% at 17,669.60 in afternoon trade on Friday, with G4S leading the fallers as its share price levelled out following a Thursday jump.
Security services firm G4S was the top faller, giving back gains from the previous day when it rallied after saying it was reviewing its options to separate its cash solutions division.
The announcement prompted Kepler Cheuvreux to reiterate its 'buy' rating of the stock with a price target of 300p, with analysts stating that a review of spin-off options for cash solutions was "great news".
Dixons shares slid ahead of the release of its interim results next week, while Capita fell after the National Audit Office said its attempts to operate an army recruitment drive have faced "significant problems" and failed to hit soldier targets every year.
Plus500 fell after Canaccord reiterated its 'sell' rating on the stock with a target price of 1,064p, stating that poorer than expected third-quarter customer-base growth did not bode well for forecasts over the next two full years.
Opioid addiction treatment developer Indivior was the top dog on the index, rising after winning a reprieve earlier in the week in its US court battle to prevent Indian rival Dr Reddy's Laboratories from selling a generic version of Indivior's Suboxone Film product, with the court delaying the release of any such copycat drug.
Construction group Balfour Beatty gained after it said its performance for the year will be above previous expectations after sales of its interests in two infrastructure projects exceed directors' valuations.
"Considering the troubles faced by other contractors in the UK, we think this is a stellar performance and should reverse some of the recent share price weakness," said UBS.
Gambling companies William Hill and 888 were both on the rise ahead of next week's parliamentary vote on legislation regarding fixed-odds betting terminals.
Housebuilder Crest Nicholson crept lower after being cut from 'buy' to 'hold' by Canaccord as part of the broker's 2019 housebuilding sector preview. It said there was a high risk to the company's earnings given its exposure to higher price points.
FTSE 250 - Risers
Indivior (INDV) 96.04p 7.93%
Vivo Energy (VVO) 120.58p 5.31%
Fisher (James) & Sons (FSJ) 1,720.08p 4.25%
Balfour Beatty (BBY) 255.90p 3.98%
William Hill (WMH) 162.15p 3.38%
888 Holdings (888) 165.40p 3.37%
Bakkavor Group (BAKK) 139.40p 3.26%
Hikma Pharmaceuticals (HIK) 1,841.50p 3.08%
Ultra Electronics Holdings (ULE) 1,324.00p 2.08%
RHI Magnesita N.V. (DI) (RHIM) 3,626.00p 1.57%
FTSE 250 - Fallers
G4S (GFS) 186.20p -4.90%
Dixons Carphone (DC.) 138.05p -4.83%
Weir Group (WEIR) 1,359.50p -4.56%
Capita (CPI) 109.30p -4.54%
Halfords Group (HFD) 266.40p -3.83%
Plus500 Ltd (DI) (PLUS) 1,390.00p -3.61%
Stobart Group Ltd. (STOB) 150.60p -3.59%
Crest Nicholson Holdings (CRST) 324.00p -3.57%
Galliford Try (GFRD) 614.50p -3.46%
Thomas Cook Group (TCG) 29.06p -3.13%
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