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FTSE 250 movers: Micro Focus loses ground; Grafton gains

By Michele Maatouk

Date: Thursday 09 Jul 2020

FTSE 250 movers: Micro Focus loses ground; Grafton gains

(Sharecast News) - London's FTSE 250 was down 0.3% at 17,133.74 in afternoon trade on Thursday.

Software company Micro Focus was the worst performer on the index as JPMorgan Cazenove cut its price target on the stock to 400p from 450p and said second-half conditions are unlikely to improve.

Going the other way, building materials distributor Grafton was on the rise as it posted a decline in revenue due to the impact of the coronavirus but said trading in June has been more resilient than expected. In the six months to 30 June, revenues fell to 19.4% to £1.06bn.

However, trading in June has improved and been better than expected, with group revenue in continuing operations up 11.4% compared to the same month last year at £247.8m. The company, which owns Woodies and Chadwicks, did warn though that this could be the result of pent-up demand.

Drinks maker C&C Group advanced as it named Heineken UK managing director David Forde as its new chief executive officer.

Carnival cruised higher after saying its German Aida cruise line would restart voyages earlier than expected from August after almost five months of shutdown.

The world's biggest cruise company said three of Aida's ships would start sailing next month with the first leaving Hamburg on 5 August. The early voyages will not stop at foreign ports and will have reduced capacity to allow for physical distancing and routing measures.

FTSE 250 - Risers

Calisen (CLSN) 185.00p 7.03%
PPHE Hotel Group Ltd (PPH) 1,115.00p 5.19%
Grafton Group Units (GFTU) 672.50p 5.08%
C&C Group (CCR) 240.50p 5.02%
Pantheon International (PIN) 2,140.00p 4.90%
888 Holdings (888) 181.80p 4.72%
Babcock International Group (BAB) 295.20p 4.46%
Carnival (CCL) 975.20p 4.17%
Hochschild Mining (HOC) 199.10p 4.08%
Kaz Minerals (KAZ) 531.40p 3.67%

FTSE 250 - Fallers

Micro Focus International (MCRO) 344.20p -5.41%
Hammerson (HMSO) 82.02p -4.23%
Trainline (TRN) 422.80p -3.91%
Telecom Plus (TEP) 1,378.00p -3.23%
Centrica (CNA) 38.50p -2.97%
Ultra Electronics Holdings (ULE) 1,954.00p -2.79%
Electrocomponents (ECM) 648.50p -2.77%
Petrofac Ltd. (PFC) 170.90p -2.62%
Aston Martin Lagonda Global Holdings (AML) 46.12p -2.58%
Rotork (ROR) 279.00p -2.52%

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