London’s FTSE 250 was down 0.4% at 22,575.47 in afternoon trade on Thursday.
LXI Reit, Airtel Africa and Tate & Lyle were all in the red as their stock went ex-dividend. LXI Reit was also in focus after saying it was raising about £75m from investors to pay for acquisitions including nursery and special education schools that are in demand as investments.
The real estate investment trust said it would place about 56.4 million new shares with investors at 133p each – a 2.3% premium to its estimated asset value and 7.9% less than the closing price on 23 June. The company will also offer shares to its retail investors.
Wood Group gushed lower after it said half-revenues were expected to be down around 21% on the previous year due to the Covid-19 pandemic.
On the upside, Chrysalis Investments was the standout gainer after it spent £35m to invest in Starling Bank, the start-up operation taking on the UK’s big lenders. The investment is linked to Starling’s fundraising in April that raised £322m. Chrysalis said at the time its investment adviser negotiated an option to participate which has now been exercised.
FTSE 250 – Risers
Chrysalis Investments Limited NPV (CHRY) 255.00p 4.94%
Kainos Group (KNOS) 1,440.00p 3.90%
Crest Nicholson Holdings (CRST) 446.60p 3.76%
RHI Magnesita N.V. (DI) (RHIM) 4,230.00p 2.77%
Biffa (BIFF) 305.50p 2.35%
TUI AG Reg Shs (DI) (TUI) 411.80p 2.34%
Liontrust Asset Management (LIO) 1,682.00p 1.94%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,524.00p 1.91%
NCC Group (NCC) 295.00p 1.72%
Volution Group (FAN) 435.00p 1.64%
FTSE 250 – Fallers
LXI Reit (LXI) 136.00p -5.82%
Wood Group (John) (WG.) 216.10p -5.63%
Airtel Africa (AAF) 79.60p -5.58%
4Imprint Group (FOUR) 2,790.00p -3.46%
Oxford Biomedica (OXB) 1,252.00p -3.40%
Euromoney Institutional Investor (ERM) 1,026.00p -3.39%
Trainline (TRN) 291.60p -3.38%
Cineworld Group (CINE) 84.32p -3.35%
Tate & Lyle (TATE) 743.40p -3.28%
Just Group (JUST) 92.55p -3.19%
