FTSE 250 movers: Trainline chugs lower; Capricorn Energy boosted by upgrade
By Michele Maatouk
Date: Thursday 23 Jun 2022
(Sharecast News) - London's FTSE 250 was 1.1% lower in afternoon trade on Thursday at 18,679.64.
Trainline lost ground on news that chief financial officer Shaun McCabe was stepping down to join fast-fashion retailer Boohoo.
Gambling and gaming group 888 fell as it said it expects interim revenues to be "broadly" in line with expectations, down on the previous year.
FirstGroup was also weaker after a downgrade to 'hold' at HSBC.
Going the other way, Capricorn Energy rallied after Stifel upgraded the shares to 'buy' from 'hold'. It said the proposed all-share deal with Tullow Oil significantly undervalues the group and a higher offer will likely be necessary to complete the deal.
Stifel lifted its price target on shares of Capricorn to 271p from 211p. It also upped its NAV estimate by around 5%, assuming that the company's Senegal oil project sold to Woodside in 2019 starts up in 2023 rather than 2024.
It said an earlier start to the project would mean a larger contingent payment to Capricorn.
Stifel said the current offer made by Tullow for Capricorn reflects only the value of its balance sheet cash at end-2022 and doesn't pay for estimated value for the other assets, including the contingent payments due from the Senegal and North Sea disposals, and the Egypt assets.
FTSE 250 - Risers
ASOS (ASC) 890.50p 3.61%
Indivior (INDV) 300.80p 3.01%
Moonpig Group (MOON) 235.20p 2.80%
Royal Mail (RMG) 281.00p 2.74%
Capricorn Energy (CNE) 216.20p 2.08%
Frasers Group (FRAS) 640.00p 1.75%
Auction Technology Group (ATG) 896.00p 1.36%
Spire Healthcare Group (SPI) 226.00p 1.35%
Fidelity China Special Situations (FCSS) 267.50p 1.33%
Telecom Plus (TEP) 1,860.00p 1.20%
FTSE 250 - Fallers
Trainline (TRN) 286.30p -9.60%
Aston Martin Lagonda Global Holdings (AML) 501.40p -5.47%
888 Holdings (888) 165.80p -5.42%
Discoverie Group (DSCV) 600.00p -5.06%
FirstGroup (FGP) 133.20p -4.52%
Helios Towers (HTWS) 121.90p -4.17%
Centamin (DI) (CEY) 80.66p -3.91%
TR Property Inv Trust (TRY) 370.00p -3.90%
Mitie Group (MTO) 59.40p -3.57%
Currys (CURY) 73.40p -3.55%
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