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30 Jul, 2021 15:47

FTSE 250 movers: Airtel rallies on investment news; Babcock tumbles

babcock manufacturing defence
Babcock International

London’s FTSE 250 down 0.4% at 22,964.93 in afternoon trade on Friday.

Babcock tumbled as the defence company said full-year losses widened after a review of its contracts and balance sheet led to impairment charges. In the year to the end of March 2021, operating losses widened to £1.6bn from £75.6m the year before as it took a £2bn impairment charge. Meanwhile, revenue during the year fell to £4.1bn from £4.4bn in 2020.

Jupiter Fund Management lost ground even as it reported a jump in half-year profit as assets under management (AUM) hit a record high. In the six months to the end of June, statutory pre-tax profit rose to £57m from £40.8m in the same period a year ago, with underlying pre-tax profit up 38% at £78.2m.

Cineworld fell after saying it had secured $200m of incremental loans maturing in May 2024 from a group of existing lenders, as the cinema chain owner looked to take advantage of pent-up demand after the lifting of Covid restrictions.#

On the upside, Airtel Africa was the standout gainer as it emerged that Qatar Holding, an affiliate of the Qatar Investment Authority, will invest $200m in Airtel Mobile Commerce, which is one of the company’s subsidiaries.

Airtel said the transaction values its mobile money business at $2.65bn on a cash and debt free basis.

FTSE 250 - Risers

Airtel Africa (AAF) 87.80p 4.96%
National Express Group (NEX) 275.20p 3.69%
PZ Cussons (PZC) 254.00p 2.63%
Watches of Switzerland Group (WOSG) 996.00p 2.36%
Centamin (DI) (CEY) 107.05p 2.34%
Kainos Group (KNOS) 1,722.00p 2.14%
Syncona Limited NPV (SYNC) 210.50p 1.94%
Computacenter (CCC) 2,716.00p 1.80%
UK Commercial Property Reit Limited (UKCM) 80.80p 1.76%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 459.50p 1.66%

FTSE 250 - Fallers

Babcock International Group (BAB) 260.00p -14.67%
Convatec Group (CTEC) 232.80p -9.66%
Jupiter Fund Management (JUP) 271.80p -6.15%
Drax Group (DRX) 403.40p -3.95%
Cineworld Group (CINE) 64.26p -3.86%
Moonpig Group (MOON) 369.40p -3.80%
easyJet (EZJ) 849.00p -3.70%
TUI AG Reg Shs (DI) (TUI) 339.70p -3.55%
Carnival (CCL) 1,460.80p -3.36%
Network International Holdings (NETW) 348.10p -3.31%


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.