Portfolio

FTSE 250 movers: Drax up on govt deal; ITV gains after studio merger talk

By Frank Prenesti

Date: Monday 10 Feb 2025

(Sharecast News) - FTSE 250 (MCX) 20,974.95 0.80%


Drax Group announced a preliminary agreement with the UK government to continue operating its North Yorkshire power station beyond 2027 on Monday, under a new low-carbon, dispatchable Contract for Difference (CfD) scheme.

The FTSE 250 company said the proposed CfD set a strike price of £113 per megawatt-hour (MWh), indexed to the consumer price index, and would apply to all four of Drax's biomass units.

It said the contract would span from April 2027 to March 2031, with an annual generation collar of approximately six terawatt-hours (TWh).

ITV gained on a report in the Financial Times stating that major shareholders support management efforts to explore a potential deal for its production arm, with rival studios and private equity now circling one of Europe's largest TV studios.

The broadcaster has held early talks with RedBird IMI, the Abu Dhabi-backed investment group that last year acquired UK rival All3Media for more than £1.1bn, the FT said, citing several people "familiar with the situation".

Market Movers

FTSE 250 - Risers

ITV (ITV) 77.10p 4.12%
Foresight Group Holdings Limited NPV (FSG) 386.00p 4.04%
Aston Martin Lagonda Global Holdings (AML) 112.00p 3.90%
Harbour Energy (HBR) 238.00p 3.30%
Drax Group (DRX) 655.00p 3.15%
Ithaca Energy (ITH) 132.20p 3.12%
Morgan Advanced Materials (MGAM) 269.50p 3.06%
Vistry Group (VTY) 596.00p 2.85%
Foresight Environmental Infrastructure Limited (FGEN) 69.30p 2.82%
Workspace Group (WKP) 474.50p 2.71%

FTSE 250 - Fallers

Dr. Martens (DOCS) 71.30p -1.99%
Indivior (INDV) 760.00p -1.68%
Burberry Group (BRBY) 1,186.00p -1.66%
Hays (HAS) 75.00p -1.32%
Oxford Nanopore Technologies (ONT) 130.40p -1.21%
IP Group (IPO) 50.20p -1.18%
Raspberry PI Holdings (RPI) 731.00p -1.15%
Pagegroup (PAGE) 322.40p -1.10%
PPHE Hotel Group Ltd (PPH) 1,315.00p -0.75%
Vietnam Enterprise Investments (DI) (VEIL) 591.00p -0.67%

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