FTSE 250 movers: Britvic recovers some ground; Diversified Energy tumbles

by | Oct 12, 2021

London’s FTSE 250 was flat at 22,481.46 in afternoon trade on Tuesday.
Shares of drinks maker Britvic fizzed higher, having been dented a day earlier by a downgrade to ‘sector perform’ from ‘outperform’ at RBC Capital Markets.

Music intellectual rights specialist Hipgnosis was on the front foot after it and NYSE-traded investment manager Blackstone announced a new partnership, backed by funds managed by Blackstone, which would initially deliver $1bn (£0.73bn) to acquire music rights and manage catalogues.

On the downside, Diversified Energy tumbled after it was reported that some of its ageing gas wells were leaking methane.

Journalists from Bloomberg assessed US well sites owned by Diversified, and reportedly found methane leaks “at most” of the places it had visited.

Diversified, a specialist in mature, low-decline, low-risk wells, refuted the report, however.

It said the wells sampled by the journalists represented “less than 0.05%” of its total portfolio of assets, while maintenance to remediate the emissions “took less than two weeks and cost between $0 and $300 per well”. In total, less than $2,000 was spent.

FTSE 250 – Risers

TUI AG Reg Shs (DI) (TUI) 273.90p 10.79%
Petropavlovsk (POG) 23.10p 7.24%
Spire Healthcare Group (SPI) 225.50p 3.44%
IP Group (IPO) 127.60p 3.40%
Britvic (BVIC) 887.50p 3.32%
Darktrace (DARK) 858.50p 3.31%
Volution Group (FAN) 474.50p 3.04%
Hipgnosis Songs Fund Limited NPV (SONG) 123.80p 3.00%
Marks & Spencer Group (MKS) 177.35p 2.66%
CMC Markets (CMCX) 271.00p 2.65%

FTSE 250 – Fallers

Diversified Energy Company (DEC) 101.00p -20.22%
Endeavour Mining (EDV) 1,795.00p -5.53%
Cineworld Group (CINE) 64.84p -4.11%
Euromoney Institutional Investor (ERM) 1,062.00p -3.63%
Wood Group (John) (WG.) 227.40p -3.40%
easyJet (EZJ) 627.40p -3.18%
Ferrexpo (FXPO) 318.20p -2.57%
Restaurant Group (RTN) 91.10p -2.46%
Wizz Air Holdings (WIZZ) 4,658.00p -2.37%
AO World (AO.) 147.30p -2.13%

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