London’s FTSE 250 was 0.5% lower at 23,676.36 in afternoon trade on Monday.
Just Group was in the red after the retirement specialist said it had sold a portfolio of lifetime mortgages to Rothesay Life for £334m.
The company announced with its interim results last week that it was in the process of selling a portfolio of LTMs with a loan value of over of £475m and an IFRS value as at 30 June 2021 of £493m. It said on Monday that the sale of the remaining tranche of loans is likely to occur over the coming weeks.
Travel-related stocks were under the cosh, with cruise operator Carnival, Tui and WH Smith all weaker.
Going the other way, Ultra Electronics jumped to the top of the index after agreeing a £2.57bn deal to be bought by defence group Cobham. The latter is offering £35 a share and “legally binding and enforceable commitments” to the UK government on national security matters.
Future was also a high riser after saying it had bought consumer media company Dennis for around £300m in cash from Exponent Private Equity.
FTSE 250 – Risers
Ultra Electronics Holdings (ULE) 3,348.00p 5.88%
Future (FUTR) 3,862.00p 4.77%
Apax Global Alpha Limited (APAX) 218.50p 2.82%
Volution Group (FAN) 497.50p 2.26%
Tyman (TYMN) 431.00p 1.89%
Centrica (CNA) 50.74p 1.62%
Savills (SVS) 1,360.00p 1.49%
Mediclinic International (MDC) 288.40p 1.48%
Babcock International Group (BAB) 330.80p 1.41%
Coats Group (COA) 71.40p 1.28%
FTSE 250 – Fallers
Energean (ENOG) 618.50p -5.21%
Ferrexpo (FXPO) 385.40p -4.79%
Harbour Energy (HBR) 342.00p -4.36%
Carnival (CCL) 1,470.20p -4.26%
Trainline (TRN) 354.60p -3.48%
Baillie Gifford US Growth Trust (USA) 333.50p -3.33%
Virgin Money UK (VMUK) 201.50p -3.22%
Just Group (JUST) 90.95p -3.14%
TUI AG Reg Shs (DI) (TUI) 323.90p -3.08%
WH Smith (SMWH) 1,624.00p -3.04%
