FTSE 250 movers: William Hill surges; WH Smith loses ground
By Michele Maatouk
Date: Friday 25 Sep 2020
(Sharecast News) - London's FTSE 250 was up 1% at 16,973.92 in afternoon trade on Friday.
William Hill surged after it confirmed that US private equity firm Apollo Global Management and Caesars Entertainment have tabled rival cash takeover offers for the bookmaker.
Russ Mould, investment director at AJ Bell, said: "Talks surrounding both cash proposals are ongoing and there is no certainty that a deal will follow. Long-term shareholders of William Hill will remember how a joint-bid from 888 and Rank and a separate approach from Amaya (now part of Flutter Entertainment) both failed to make it over the finish line back in 2016.
"Nevertheless, an approach for Hills is entirely understandable, even allowing for its woes in the UK, where limits to stakes on Fixed-Odds Betting Terminals, increased taxes and stricter regulation have hit its high street operations hard."
Peer 888 Holdings also racked up strong gains.
WH Smith, which operates stores at train stations and airports, was in the red amid worries about the ongoing impact of Covid-19 on the travel industry.
FTSE 250 - Risers
William Hill (WMH) 286.40p 31.62%
Ascential (ASCL) 299.60p 11.62%
888 Holdings (888) 205.50p 11.08%
Cairn Energy (CNE) 136.50p 8.68%
Morgan Sindall Group (MGNS) 1,158.00p 6.43%
PZ Cussons (PZC) 227.50p 6.06%
Cineworld Group (CINE) 43.38p 4.88%
C&C Group (CCR) 195.60p 4.82%
Network International Holdings (NETW) 282.20p 4.36%
Carnival (CCL) 915.80p 4.21%
FTSE 250 - Fallers
Sirius Real Estate Ltd. (SRE) 70.40p -7.85%
Marks & Spencer Group (MKS) 92.70p -4.65%
Fisher (James) & Sons (FSJ) 1,126.00p -4.41%
XP Power Ltd. (DI) (XPP) 4,340.00p -3.12%
WH Smith (SMWH) 943.00p -3.03%
Workspace Group (WKP) 478.80p -2.96%
Micro Focus International (MCRO) 246.30p -2.88%
Contour Global (GLO) 190.40p -2.66%
Premier Foods (PFD) 89.00p -2.63%
Weir Group (WEIR) 1,175.00p -2.53%
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