FTSE 250 movers: Cairn gushes higher; AO World retreats

London’s FTSE 250 was up 1.1% at 22,614.34 in afternoon trade on Thursday.
Oil and gas exploration and development company Cairn was the top gainer as oil prices rose, while Hochschild was also up as gold prices rallied.

Opioid addiction treatment maker Indivior rose after it entered into an amendment to reprice and extend the maturity of $250.0m worth of term loan facilities.

Grosvenor Casinos and Mecca Bingo owner Rank Group advanced after it said trading in the first six weeks following the reopening of its venues was in line with management’s expectations and expected to improve as social distancing and travel restrictions ease.

Building materials distributor and DIY retailer Grafton gained after agreeing to sell its traditional merchanting business in Great Britain to independent builders’ merchant Huws Gray for £520m.

Micro Focus was in the red after it said adjusted first-half profit declined 7.7% as the software group’s revenue fell.

AO World lost ground even as the online electricals retailer reported a jump in full-year profits and revenue as it continues to benefit to a shit to online shopping since the pandemic. In the year to the end of March 2021, pre-tax profit surged to £20m from just £1m the year before, with total group revenue up 62% at £1.6bn.

FTSE 250 – Risers

Cairn Energy (CNE) 155.90p 7.00%
Hochschild Mining (HOC) 164.10p 6.98%
FirstGroup (FGP) 87.00p 6.23%
Herald Investment Trust (HRI) 2,290.00p 5.05%
Cineworld Group (CINE) 81.16p 4.80%
LXI Reit (LXI) 139.40p 4.65%
Indivior (INDV) 161.50p 4.46%
Rank Group (RNK) 175.00p 4.29%
Grafton Group Ut (CDI) (GFTU) 1,196.00p 4.27%
IWG (IWG) 312.50p 3.96%

FTSE 250 – Fallers

Micro Focus International (MCRO) 495.10p -9.49%
AO World (AO.) 241.20p -4.66%
Morrison (Wm) Supermarkets (MRW) 241.30p -2.19%
Moonpig Group (MOON) 419.80p -2.10%
Auction Technology Group (ATG) 1,128.00p -2.08%
Chrysalis Investments Limited NPV (CHRY) 241.00p -2.03%
Watches of Switzerland Group (WOSG) 821.00p -1.79%
Oxford Instruments (OXIG) 2,270.00p -1.73%
Liontrust Asset Management (LIO) 1,848.00p -1.70%
Trustpilot Group (TRST) 335.60p -1.70%

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