FTSE 250 movers: Mitchells & Butlers, Trainline slump on restriction fears
By Michele Maatouk
Date: Monday 21 Sep 2020
(Sharecast News) - London's FTSE 250 was down 3.8% at 16,904.56 in afternoon trade on Monday amid worries about rising Covid-19 cases and tighter restrictions.
Dubai-based payments processor Network International was under the cosh. The company put out a brief statement saying it was not aware of any reason for the slump in its share price.
"The company is not aware of any reason to justify the move and is pleased to report that the trend of improving volumes in directly acquired domestic TPV, reported for July with our interim results, has continued in August and early September," it said.
Pub group Mitchells & Butlers lost ground amid reports that curfews for pubs and restaurants might be among new Covid restrictions announced by Prime Minister Boris Johnson this week due to a rise in cases.
CMC Markets analyst David Madden said: "The food and drink business was only starting to back on its feet again when the concerns about rising cases and news of local lockdowns struck."
Trainline was also weaker on the prospect on further restrictions, which would likely dent travel.
Transport operator FirstGroup was also down even as the Department for Transport confirmed extensions to the emergency measures on a number of rail franchises, protecting operators from continued depressed passenger demand as a result of the pandemic.
FTSE 250 - Risers
HGCapital Trust (HGT) 282.00p 2.55%
Royal Mail (RMG) 240.80p 1.73%
Oxford Biomedica (OXB) 846.00p 0.59%
Oxford Instruments (OXIG) 1,578.00p 0.51%
Pollen Street Secured Lending (PSSL) 840.00p 0.24%
Jupiter Fund Management (JUP) 204.20p 0.20%
Avon Rubber (AVON) 4,175.00p 0.12%
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,434.00p 0.07%
Plus500 Ltd (DI) (PLUS) 1,523.50p 0.00%
LXI Reit (LXI) 112.00p 0.00%
FTSE 250 - Fallers
Network International Holdings (NETW) 217.00p -18.17%
Paragon Banking Group (PAG) 307.60p -13.84%
FirstGroup (FGP) 37.10p -13.11%
Mitchells & Butlers (MAB) 122.60p -12.80%
Trainline (TRN) 340.60p -12.67%
Virgin Money UK (VMUK) 75.22p -11.82%
Crest Nicholson Holdings (CRST) 169.50p -10.79%
Greencore Group (GNC) 99.20p -9.82%
Capita (CPI) 26.82p -9.58%
Petrofac Ltd. (PFC) 123.95p -9.13%
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