FTSE 250 movers: Indivior dives, Metro Bank chugs upward
By Duncan Ferris
Date: Friday 17 May 2019
(Sharecast News) - London\'s FTSE 250 was down 0.42% at 19,448.80 in afternoon trade on Friday, with Indivior\'s shares at the head of the index\'s fallers.
The anti opioid addiction treatment developer took a dive as analysts at Citi moved the stock\'s target price to 58p to reflect risks associated with the company\'s fine from the US Department of Justice and the progress of its new Sublocade injection treatment.
This company is currently facing criminal charges from the US Department of Justice in connection with its conduct in marketing the opioid dependence treatment Suboxone Film, as well as a class action lawsuit from some of its investors.
AJ Bell was lower ahead of the release of its interim results next week, while Domino\'s Pizza edged lower after analysts at UBS cut their recommendation on the stock to \'sell\' and lowered their target price from 245p to 230p.
At the other end of the pitch, Metro Bank shares surged as the challenger bank said it had successfully raised £375m in less than three hours after launching a discounted 500p a share placing late on Thursday.
That was £25m more than it had set out to raise.
Russ Mould, investment director at AJ Bell, said: \"However, demand has been so strong that Metro has been able to raise £375m, more than the £350m originally planned. This should lay to rest the more lurid headlines about the company\'s financial health and allow it to focus on reassuring customers and shareholders and get back to the day job of accepting deposits and making loans.\"
Shipping services provider Clarkson and fashion retailer Ted Baker recovered from drops on Thursday when their stock had gone ex-dividend.
GVC Holdings was also on the up after Berenberg analysts reiterated their \'buy\' rating of the stock after the gambling outfit\'s capital markets day, which left analysts impressed with the company\'s technology and marketing capabilities, \"strong\" UK performance and ambitious plans for the US.
Finally, food producer Cranswick also inched higher ahead of the release of its final results next week.
Market Movers
FTSE 250 (MCX) 19,448.80 -0.42%
FTSE 250 - Risers
Metro Bank (MTRO) 659.00p 22.83%
Provident Financial (PFG) 486.56p 5.75%
Clarkson (CKN) 2,295.00p 4.32%
GVC Holdings (GVC) 619.40p 2.48%
888 Holdings (888) 132.40p 2.40%
Ted Baker (TED) 1,529.08p 1.67%
Dechra Pharmaceuticals (DPH) 2,732.00p 1.49%
Centamin (DI) (CEY) 90.08p 1.42%
Barr (A.G.) (BAG) 914.00p 1.33%
Cranswick (CWK) 2,900.00p 1.33%
FTSE 250 - Fallers
Indivior (INDV) 46.02p -13.27%
Sirius Minerals (SXX) 15.86p -5.09%
Quilter (QLT) 140.60p -3.45%
Funding Circle Holdings (FCH) 251.20p -3.38%
Saga (SAGA) 51.80p -3.36%
Kier Group (KIE) 323.20p -3.29%
Investec (INVP) 492.60p -2.76%
Hammerson (HMSO) 286.90p -2.51%
AJ Bell (AJB) 422.00p -2.31%
Domino\'s Pizza Group (DOM) 247.30p -2.25%
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