FTSE 250 movers: Shaftesbury slides; Mitchells & Butlers fizzes higher
By Michele Maatouk
Date: Thursday 22 Oct 2020
(Sharecast News) - London's FTSE 250 was up 0.5% at 17,878.55 in afternoon trade on Thursday.
Pub chain Mitchells & Butlers was on the rise, with traders pointing to the new support measures announced by Chancellor Rishi Sunak earlier.
West End landlord Shaftesbury slumped as it announced plans for a discounted cash call to help weather the pandemic. It plans to raise around £297m through a placing and open offer and a further £10m via an offer and subscription. Its biggest shareholder, Capital & Counties - which has committed to subscribe for £65m new Shaftesbury shares - was also sharply lower.
The new shares will be issued at 400p each, which is a near-20% discount to Wednesday's closing share price.
Price comparison website Moneysupermarket.com lost ground after it posted a 16% decline in third-quarter revenue to £85.1m as the pandemic affected several of its channels.
Petropavlovsk was under pressure after revealing that its chief executive was being investigated in Russia.
Spectris was on the back foot despite saying that the decline in like-for-like sales eased in the third quarter compared to the second.
FTSE 250 - Risers
Mitchells & Butlers (MAB) 151.40p 7.38%
TUI AG Reg Shs (DI) (TUI) 302.30p 4.64%
Just Group (JUST) 47.08p 4.62%
easyJet (EZJ) 526.80p 4.48%
Grafton Group Ut (GFTU) 719.50p 4.43%
Wizz Air Holdings (WIZZ) 3,504.00p 4.29%
AO World (AO.) 348.50p 3.87%
Greencore Group (GNC) 103.00p 3.57%
Centamin (DI) (CEY) 135.95p 3.54%
Trainline (TRN) 293.40p 3.53%
FTSE 250 - Fallers
Shaftesbury (SHB) 420.20p -15.62%
Moneysupermarket.com Group (MONY) 237.00p -11.24%
Capital & Counties Properties (CAPC) 101.50p -10.89%
Petropavlovsk (POG) 27.75p -3.98%
Spectris (SXS) 2,581.00p -3.19%
Weir Group (WEIR) 1,517.50p -2.85%
Network International Holdings (NETW) 241.60p -2.50%
Hochschild Mining (HOC) 237.40p -2.47%
Biffa (BIFF) 208.50p -2.34%
Clarkson (CKN) 2,255.00p -2.17%
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