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FTSE 250 movers: Media stocks Future and Ascential see shares surge

By Benjamin Chiou

Date: Thursday 04 Apr 2024

FTSE 250 movers: Media stocks Future and Ascential see shares surge

(Sharecast News) - Future stole the show on Thursday after the media group reported a return to organic revenue growth in its second quarter, largely attributed to robust performances in Go.Compare, B2B sectors, and resilient magazine sales.

The FTSE 250 specialist publisher said challenges were persisting in affiliate products and digital advertising, but that it was confident in its ability to meet expectations for the full 2024 financial year, pending any impact from foreign exchange translation.

Also in demand was Ascential, the B2B media and events company, after expanding on plans to return £850m to shareholders. The return involves a tender offer to acquire up to £300m of Ascential shares, a special dividend of at least £450m, and on-market share buyback programmes to acquire £100m of Ascential shares. Shares jumped 3%.

Aston Martin Lagonda Global was performing well, rising more than 3% on the same day that Swedish carmaker Volvo reported its best-ever single month of sales in March, with unit deliveries up a quarter on the year before.

OSB Group led the fallers list after going ex-dividend, meaning that new shareholders won't be entitled to the company's latest dividend payout. Breedon, Hammerson and Domino's were also ex-dividend.

Meat, seafood and meat alternatives group Hilton Foods was in the red, pulling back after a decent gain the previous session after it reported a 20% increase in full-year adjusted profits, helped by the turnaround in its seafood business.

Power generation business Drax edged higher after revealing it had signed a new £150m term-loan facility to help refinance its debt which expires next year.

FTSE 250 - Risers

Future (FUTR) 662.00p 10.43%
Pagegroup (PAGE) 477.80p 6.04%
Mitie Group (MTO) 111.20p 5.10%
Dr. Martens (DOCS) 96.45p 3.93%
Wizz Air Holdings (WIZZ) 2,248.00p 3.88%
Close Brothers Group (CBG) 442.40p 3.41%
Ascential (ASCL) 315.20p 3.28%
Aston Martin Lagonda Global Holdings (AML) 167.10p 3.28%
Mobico Group (MCG) 65.60p 2.90%
SDCL Energy Efficiency Income Trust (SEIT) 60.50p 2.89%

FTSE 250 - Fallers

OSB Group (OSB) 367.40p -2.96%
Hammerson (HMSO) 27.76p -2.73%
Hilton Food Group (HFG) 848.00p -2.30%
Breedon Group (BREE) 381.50p -2.18%
Domino's Pizza Group (DOM) 339.80p -1.96%
Lancashire Holdings Limited (LRE) 603.00p -1.95%
Barr (A.G.) (BAG) 574.00p -1.88%
Trustpilot Group (TRST) 189.80p -1.76%
Britvic (BVIC) 793.50p -1.55%
Finsbury Growth & Income Trust (FGT) 834.00p -1.42%


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