FTSE 250 movers: Marston's fizzes higher on Carslberg JV; AJ Bell slumps

Fri 22 May 2020

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 250 was down 0.1% at 16,365.00 in afternoon trade on Friday.
Investment platform AJ Bell slid after fund manager Invesco sold a 7.6% stake in the company.

Go-Ahead was under pressure after the transport operator warned the Covid-19 outbreak and ongoing problems at its German rail franchise would hit full-year profits.

On the upside, Marston's shares fizzed higher as it announced the formation of a new joint venture partnership with Carlsberg UK to create a "best-in-class, brand-led UK brewer of scale" worth around 780m.

The FTSE 250 brewer and pub operator said on Friday that the deal values its brewing business at up to 580m and the Carlsberg UK brewing business 200.

Under the terms of the agreement, Marston's will receive a 40% stake in Carlsberg Marston's Brewing Company, and a cash equalisation payment of up to 273m.

Future was also higher after it said operating profits surged in an "exceptionally strong" first half despite the Covid-19 pandemic impacting trading at the end of the period.

Intellectual property developer IP Group was a high riser after saying its portfolio company Oxford Nanopore Technologies was in advanced development of a new generation of end-to-end test (assay) for the detection of the virus that causes Covid-19.

FTSE 250 - Risers

Marston's (MARS) 53.85p 65.39%
Future (FUTR) 1,198.00p 9.71%
Trainline (TRN) 529.50p 6.71%
Avast (AVST) 505.50p 5.36%
IP Group (IPO) 61.00p 5.35%
Bakkavor Group (BAKK) 73.00p 4.29%
Biffa (BIFF) 233.50p 4.24%
Helios Towers (HTWS) 133.40p 3.41%
Kainos Group (KNOS) 884.00p 3.39%
Micro Focus International (MCRO) 420.20p 3.22%

FTSE 250 - Fallers

AJ Bell (AJB) 385.00p -13.68%
Go-Ahead Group (GOG) 1,091.00p -11.23%
Aston Martin Lagonda Global Holdings (AML) 34.70p -6.22%
FirstGroup (FGP) 52.95p -5.11%
Wood Group (John) (WG.) 186.10p -4.98%
Greencore Group (GNC) 125.70p -4.92%
WH Smith (SMWH) 952.00p -4.32%
Investec (INVP) 147.80p -4.18%
St. Modwen Properties (SMP) 312.00p -4.15%
McCarthy & Stone (MCS) 65.00p -3.56%
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