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FTSE 250 movers: Takeover approach boosts Pollen Street; SIG gets taken apart

By Alexander Bueso

Date: Tuesday 25 Feb 2020

FTSE 250 movers: Takeover approach boosts Pollen Street; SIG gets taken apart

(Sharecast News) - London's FTSE 250 was down 1.82% at 20,732.88 in afternoon trade on Tuesday amid continued coronavirus concerns and as some Chinese cities announced restrictions on travellers from Japan and South Korea, while the UAE suspended flights from Iran.
Pollen Street Secured Lending led gainers after announcing that it had received an expression of interest, all in cash, to acquire the investment trust at 900.0p, representing a 7.8% premium to the closing price of its shares during the previous session.

Property developer Hammerson was close behind after as investors greeted the firm's decision to maintain its full-year payout at 25.9p and looked past guidance for a dividend rebase in 2020.

Petrofac was also in the plus column after reporting what the outfit's management described as a "solid" full-year operational performance across all of its businesses, even as its said its business performance net profit fell 22% to $276m (?213.1m).

To take note of, the oil field services group's shares were also putting in a bounce following the previous day's thrashing as economic growth concerns on the back of the coronavirus crisis triggered a sharp drop in oil prices.

Going the other way were shares of SIG after the supplier of insulation and specialist construction products - which had issued two profit warnings since October - announced the resignation of its chief executive and chief financial officers, prompting analysts at Canaccord Genuity to label the stock "uninvestable".

Market Movers

FTSE 250 (MCX) 20,722.33 -1.87%

FTSE 250 - Risers

Pollen Street Secured Lending (PSSL) 886.00p 7.00%
Plus500 Ltd (DI) (PLUS) 884.40p 4.05%
Tullow Oil (TLW) 36.96p 2.67%
Hilton Food Group (HFG) 1,042.00p 2.16%
Hammerson (HMSO) 226.60p 2.03%
Spectris (SXS) 3,011.00p 1.93%
Morgan Advanced Materials (MGAM) 293.80p 1.66%
Bank of Georgia Group (BGEO) 1,745.00p 1.63%
ICG Enterprise Trust (ICGT) 944.00p 1.29%
Britvic (BVIC) 900.50p 1.07%

FTSE 250 - Fallers

SIG (SHI) 67.75p -18.81%
Future (FUTR) 1,232.00p -6.24%
TI Fluid Systems (TIFS) 212.50p -5.56%
Rank Group (RNK) 304.00p -5.15%
Syncona Limited NPV (SYNC) 247.50p -4.62%
SSP Group (SSPG) 588.00p -4.55%
William Hill (WMH) 177.80p -4.49%
Kaz Minerals (KAZ) 433.00p -4.33%
Vistry Group (VTY) 1,343.00p -4.28%
Restaurant Group (RTN) 117.90p -4.15%


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