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FTSE 250 movers: Euromoney gains after results; Hammerson loses ground

By Michele Maatouk

Date: Thursday 04 Jun 2020

FTSE 250 movers: Euromoney gains after results; Hammerson loses ground

(Sharecast News) - London's FTSE 250 was flat at 17,893.02 in afternoon trade on Thursday.
Euromoney was on the front foot after it posted a rise in half-year revenue but a drop in profit, in part due to the cancellation of events on the back of the Covid-19 crisis.

On the downside, Hammerson lost ground, having rallied earlier in the week after the shopping centre owner said it would reopen its flagship sites in England from 15 June.

IWG fell after RBC Capital Markets downgraded its stance on stock of the office space to 'sector perform' from 'outperform' following recent share price strength. The bank said it still likes the long-term potential and sees IWG as becoming an even more dominant market leader.

"However, the shares have bounced strongly, the catalysts of further franchising deals are unlikely in the short-term and we see risk reward now more balanced with the valuation circa 20% above our mid-cycle valuation of the existing estate at maturity."

RBC lifted its price target up to 325p from 275p.

Wizz Air was in the red as it confirmed that air traffic in May was only at 6% of capacity. The stock was also hit by a downgrade to 'hold' from 'buy' at HSBC.

FTSE 250 - Risers

Hyve Group (HYVE) 129.00p 23.21%
Senior (SNR) 89.00p 14.84%
Euromoney Institutional Investor (ERM) 866.00p 11.89%
Helios Towers (HTWS) 173.00p 6.92%
Ascential (ASCL) 290.00p 6.77%
Coats Group (COA) 58.00p 5.07%
Apax Global Alpha Limited (APAX) 146.60p 4.56%
G4S (GFS) 105.00p 4.48%
AJ Bell (AJB) 409.00p 3.54%
Softcat (SCT) 1,117.00p 3.33%

FTSE 250 - Fallers

Hammerson (HMSO) 115.55p -16.12%
Future (FUTR) 1,242.00p -4.61%
Workspace Group (WKP) 774.00p -4.39%
IWG (IWG) 290.40p -4.28%
Greggs (GRG) 1,809.00p -4.24%
Cineworld Group (CINE) 85.12p -4.01%
Weir Group (WEIR) 1,028.50p -3.83%
Wizz Air Holdings (WIZZ) 3,518.00p -3.77%
Rathbone Brothers (RAT) 1,482.00p -3.64%
Crest Nicholson Holdings (CRST) 271.20p -3.62%


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