FTSE 250 movers: Investec falls after results; Serco gains

Thu 19 Nov 2020

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 250 was down 1% at 19,501.42 in afternoon trade on Thursday.
Investec lost ground even though the financial services company reinstated its dividend and forecast an improved second half after better-than-expected interim results.

Cineworld shares slumped following a report the cinema chain is considering a company voluntary arrangement to help it stay afloat until the Spring.

According to the Financial Times, which cited three sources close to the negotiations, Cineworld is looking at slashing rents and permanently closing UK cinemas following lockdown restrictions and a lack of blockbuster film releases.

Close Brothers was under pressure despite saying it had delivered a "strong" performance in the first quarter, reflecting high levels of new business volumes in the lending businesses, continued net inflows in the asset management arm and elevated trading volumes in its Winterflood securities business.

Outsourcer Serco was a high riser after an article in The Times suggested it has attracted interest from at least two private equity firms that are quietly running the numbers with advice from investment banks.

Royal Mail rallied despite saying it swung to a loss in the first half as redundancy and Covid-19 costs more than offset higher revenue from booming parcel deliveries. The company swung to a 20m operating loss in the six months to the end of September from a 61m profit a year earlier as revenue rose 9.8% to 5.7bn.

FTSE 250 - Risers

Capita (CPI) 43.00p 5.65%
Serco Group (SRP) 118.80p 3.57%
Royal Mail (RMG) 295.00p 3.15%
Kainos Group (KNOS) 1,300.00p 2.52%
Calisen (CLSN) 183.50p 2.43%
Apax Global Alpha Limited (APAX) 175.80p 2.21%
WH Smith (SMWH) 1,494.00p 2.19%
Contour Global (GLO) 202.50p 2.07%
AJ Bell (AJB) 446.50p 2.06%
Games Workshop Group (GAW) 9,955.00p 2.05%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 69.05p -13.14%
Investec (INVP) 188.20p -7.88%
Cineworld Group (CINE) 45.40p -6.20%
Mitchells & Butlers (MAB) 221.50p -5.34%
Shaftesbury (SHB) 537.50p -5.20%
SSP Group (SSPG) 310.80p -5.07%
Meggitt (MGGT) 382.40p -4.90%
Essentra (ESNT) 286.40p -4.72%
Close Brothers Group (CBG) 1,318.00p -4.22%
Travis Perkins (TPK) 1,296.00p -4.07%
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