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FTSE 250 movers: Ascential surges on bid spec; Spirent tanks

By Michele Maatouk

Date: Wednesday 04 Oct 2023

FTSE 250 movers: Ascential surges on bid spec; Spirent tanks

(Sharecast News) - London's FTSE 250 was down 0.8% at 17,544.81 in afternoon trade on Wednesday.
Ascential surged to the top of the index following a report that a consortium of strategic and financial investors has approached the company with a bid to take over its Cannes Lions and other events operations.

According to Sky News, private-equity backed exhibitions company Hyve, and MediaLink, a media and marketing advisory firm owned by United Talent Agency, tabled an offer to acquire Ascential's events arm in the last few weeks.

Ascential declined to comment on the story.

On the downside, Spirent Communications tanked after it cut its near-term outlook as it pointed to an "extremely challenged" telecommunications market and the fact its largest customers have delayed expenditure and technology investments.

Spirent said the uptick in demand seen in the second quarter dissipated over the summer months and the expected rebound in September did not materialise.

"As a result, there is not enough near-term strength in the orderbook to support our expectations for the final quarter trading, and accordingly we reduce our outlook for the near term," it said. "The impact of negative operating leverage will very materially affect operating profit in this financial year."

FTSE 250 - Risers

Ascential (ASCL) 217.60p 7.19%
PureTech Health (PRTC) 174.80p 4.67%
Breedon Group (BREE) 336.50p 3.06%
Future (FUTR) 844.50p 2.99%
Softcat (SCT) 1,438.00p 2.71%
Bytes Technology Group (BYIT) 493.00p 2.49%
Wetherspoon (J.D.) (JDW) 677.50p 2.34%
Intermediate Capital Group (ICP) 1,326.00p 2.04%
W.A.G Payment Solutions (WPS) 93.80p 1.96%
Telecom Plus (TEP) 1,474.00p 1.80%

FTSE 250 - Fallers

Spirent Communications (SPT) 89.65p -31.62%
Diversified Energy Company (DEC) 64.95p -9.54%
Vistry Group (VTY) 791.00p -4.87%
Aston Martin Lagonda Global Holdings (AML) 260.40p -4.34%
Harbour Energy (HBR) 238.60p -4.06%
HGCapital Trust (HGT) 367.50p -3.54%
Mitchells & Butlers (MAB) 203.60p -3.05%
Playtech (PTEC) 428.00p -2.77%
CAB Payments Holdings (CABP) 215.50p -2.71%
Auction Technology Group (ATG) 593.00p -2.47%


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