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%
