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FTSE 250 movers: Entertainment One surges, Metro Bank stumbles

By Duncan Ferris

Date: Friday 23 Aug 2019

FTSE 250 movers: Entertainment One surges, Metro Bank stumbles

(Sharecast News) - London\'s FTSE 250 was up 0.50% at 19,300.75 in afternoon trade on Friday, with Entertainment One leading the pack higher.
The Peppa Pig owner surged as it agreed to be bought by Hasbro in an all-cash deal valuing the UK company at £3.3bn, with the US toymaker set to pay £5.60 for each eOne share - 31% more than eOne\'s average share price over the past 30 days.

Russ Mould, investment director at AJ Bell, said: \"The shares were trading at 571p at the market open versus Hasbro\'s 560p bid, which implies the market is confident about a counterbid.\"

\"It wouldn\'t be surprising to see Amazon or Netflix want to throw their hat in the ring given how Entertainment One has such a big library of content which they need in order to keep customers loyal to their streaming platforms. While both these companies already licence content from Entertainment One they only get the films and TV shows for a specific period of time.\"

Elsewhere, Computacenter rallied after saying it expects full-year profit growth to be \"the best in the company\'s history\" as it reported a 2.7% rise in adjusted interim pre-tax profits to £53.5m.

Down at the other end of the index, Metro Bank led the fallers after analysts at Barclays cut the stock\'s target price from 450p to 350p.

Premier Oil, Wood Group, Hunting and Tullow Oil followed close behind as oil prices slid after China unveiled retaliatory tariffs against about $75bn worth of US goods.

Finally, shares of Woodford Patient Capital Trust slumped after it said the revision of the value of its holding in IH Holdings International will cut its overall net asset value by 3.4p.

Market Movers

FTSE 250 (MCX) 19,300.75 0.50%


FTSE 250 - Risers

Entertainment One Limited (ETO) 587.00p 32.39%
Sirius Minerals (SXX) 10.27p 5.55%
SIG (SHI) 126.00p 5.18%
Intu Properties (INTU) 33.84p 5.03%
Bakkavor Group (BAKK) 108.60p 4.22%
Computacenter (CCC) 1,457.00p 4.15%
NewRiver REIT (NRR) 166.80p 3.60%
Hammerson (HMSO) 226.80p 3.56%
Euromoney Institutional Investor (ERM) 1,370.00p 3.47%
Galliford Try (GFRD) 600.00p 3.18%

FTSE 250 - Fallers

Metro Bank (MTRO) 270.20p -4.93%
Premier Oil (PMO) 75.32p -4.63%
Wood Group (John) (WG.) 386.30p -4.29%
Amigo Holdings (AMGO) 162.19p -4.25%
Hunting (HTG) 425.20p -4.15%
Tullow Oil (TLW) 207.00p -3.09%
AJ Bell (AJB) 370.87p -2.79%
Victrex plc (VCT) 1,956.00p -2.59%
Woodford Patient Capital Trust (WPCT) 42.77p -2.58%
Clarkson (CKN) 2,480.00p -2.55%

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