FTSE 250 movers: Indivior surges but Go-Ahead slumps on downgrade
By Michele Maatouk
Date: Monday 16 Jul 2018
(Sharecast News) - London's FTSE 250 was flat at 20,820.51 in afternoon trade on Monday, with Indivior the star performer.
Indivior rocketed after a US court granted a preliminary injunction to prevent Dr Reddy's Laboratories from selling a generic version of Indivior's Suboxone Film for treating opioid addiction until a decision is made on patent litigation.
The US district court issued the preliminary injunction as it determined that Dr Reddy's had likely infringed on Indivior's intellectual property, as defined under patent number 9,931,305, analysts said. Under the injunction, Dr Reddy's is restricted from selling, marketing or importing its generic film.
John Laing Infrastructure was a high riser after a consortium of funds announced a possible cash offer for the business valuing it at £1.45bn.
Going the other way, transport operator Go-Ahead tumbled after HSBC cut the stock to 'hold' from 'buy'.
"The failure of the East Coast contract has been followed by a provision by FirstGroup that could deepen and widen. And this is alongside significant timetabling disruption, especially on Go-Ahead's GTR franchise. This might result in a financial expense for it, potentially damaging near-term profitability and possibly raising concern over its wider franchise portfolio."
AA was also on the back foot after Barclays downgraded its stance on the insurer and roadside assistance group to 'equalweight' from 'overweight'.
"Further upside based on full-year 2021 forecasts could still be substantial, but it is down to execution of the strategy, and we do not see material catalysts over the next 12-18 months that will provide visibility on the shape of 2021 forecasts," the bank said.
FTSE 250 - Risers
Indivior (INDV) 354.98p 21.90%
John Laing Infrastructure Fund Ltd (JLIF) 139.80p 18.27%
HICL Infrastructure Company Ltd (HICL) 152.50p 5.39%
Energean Oil & Gas (ENOG) 544.00p 5.22%
Clarkson (CKN) 2,480.00p 4.86%
Fisher (James) & Sons (FSJ) 1,910.00p 4.71%
International Public Partnerships Ltd. (INPP) 148.80p 4.49%
Rank Group (RNK) 183.80p 4.20%
Elementis (ELM) 262.80p 3.55%
Dairy Crest Group (DCG) 475.60p 2.77%
FTSE 250 - Fallers
Go-Ahead Group (GOG) 1,378.00p -9.88%
Stagecoach Group (SGC) 153.60p -4.30%
Dixons Carphone (DC.) 182.50p -4.00%
AA (AA.) 119.55p -3.86%
Tullow Oil (TLW) 223.70p -3.62%
TalkTalk Telecom Group (TALK) 108.90p -3.03%
Dunelm Group (DNLM) 507.00p -2.69%
Premier Oil (PMO) 131.40p -2.59%
Saga (SAGA) 121.64p -2.30%
Pennon Group (PNN) 755.20p -2.13%
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