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FTSE 250 movers: Jupiter Fund Management gives back some gains; Petrofac rallies

By Michele Maatouk

Date: Tuesday 18 Feb 2020

FTSE 250 movers: Jupiter Fund Management gives back some gains; Petrofac rallies

(Sharecast News) - London's FTSE 250 index was down 0.5% at 21,721.44 in afternoon trade on Tuesday.
Jupiter Fund Management was giving back some gains from the previous session, when it rallied on news that it had made a ?370m takeover offer for Merian Global Investors.

Weir Group and Wood Group were both lower as oil prices fell.

On the upside, Petrofac was a high riser after announcing that it had won $1.65bn worth of contracts with Abu Dhabi National Oil Company (ADNOC) in the UAE.

RBC Capital Markets said: "This is a sizeable win and highlights the firm's capacity to earn major contracts (again) in a challenging context (SFO investigation underway).

"We have to go back to March 2019 for a contract of similar size, when the firm won a $1bn EPC contract for the Ain Tsila Development project in Algeria. The award confirms UAE is a strategic region for the firm, representing about 1/3 of the contract pipeline in the next 12 months as of Petrofac's last trading update.

"In terms of revenue impact, most of the corresponding profit will very likely be recognised in 2021."

FTSE 250 - Risers

PureTech Health (PRTC) 332.00p 3.75%
Future (FUTR) 1,334.00p 3.25%
Restaurant Group (RTN) 132.40p 2.95%
Telecom Plus (TEP) 1,574.00p 2.88%
Fresnillo (FRES) 679.40p 2.10%
Centamin (DI) (CEY) 135.95p 1.87%
Petrofac Ltd. (PFC) 371.30p 1.73%
Tate & Lyle (TATE) 800.80p 1.52%
Hilton Food Group (HFG) 1,090.00p 1.30%
Syncona Limited NPV (SYNC) 241.00p 1.26%

FTSE 250 - Fallers

Vesuvius (VSVS) 444.60p -4.55%
Jupiter Fund Management (JUP) 395.90p -3.72%
Finablr (FIN) 76.00p -3.49%
Weir Group (WEIR) 1,359.50p -3.44%
Aston Martin Lagonda Global Holdings (AML) 436.30p -3.11%
Spectris (SXS) 2,686.00p -2.86%
Man Group (EMG) 148.85p -2.78%
Wood Group (John) (WG.) 402.20p -2.69%
TI Fluid Systems (TIFS) 229.50p -2.55%
RHI Magnesita N.V. (DI) (RHIM) 3,110.00p -2.51%

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