Share Prices & Company Research

Market News

05 Mar 2020 | 16:03

FTSE 250 movers: Travel and oil related issues pace declines

(Sharecast News) - The Chinese coronavirus continued to be the common denominator behind share price movements on the second-tier index on Thursday, although there were some other factors at play, including Russia's reticence thus far to contribute to another reduction in OPEC+ oil production.

To take note of as well, citing data from Calastone, Bloomberg reported that during the final week of February investors - almost completely via actively managed funds - had yanked £1.55bn out of UK equity funds, the largest amount since the firm started collecting data in 2015.

Among the firms most directly impacted by the coronavirus outbreak were Cineworld, Hyve Group and Restaurant Group.

It was on the back of more bearish assumptions for the virus that Peel Hunt cut its target for the former from 300.0p to 140.0p, having a day earlier highlighted the drop in UK airport passenger numbers that Restaurant Group was facing.

Also on Thursday, Hyve Group joined the list of companies detailing the hit to its business, as it was forced to postpone multiple events in Asia to later in the financial year in the hopes that the virus would recede.

But the sharpest drop by far, in outsourcer Capita, was company specific, as the company informed shareholders that its turn around plan would require a greater-than-expected level of investment.

Meanwhile, in the oil patch, shares of Premier Oil, Tullow Oil, Cairn Energy and Petrofac all retreated, tracking weakness in the oil price after ministers from the Organisation of Petroleum Exporting Countries recommended a heft 1.5m barrel a day cut in their combined output until end 2020, despite Moscow not having yet signed up.

If Russia did not agree to contribute and other members then balked at making up the difference, some observers saw the risk of a further large move lower in oil prices.

Market Movers

FTSE 250 (MCX) 19,323.13 -2.13%

FTSE 250 - Risers

Spirent Communications (SPT) 249.50p 17.41% CLS Holdings (CLI) 268.00p 3.28% Pagegroup (PAGE) 381.20p 3.14% Barr (A.G.) (BAG) 555.00p 2.78% Centamin (DI) (CEY) 143.00p 2.33% Playtech (PTEC) 238.80p 2.27% HGCapital Trust (HGT) 248.50p 1.64% Mediclinic International (MDC) 370.60p 1.62% Dechra Pharmaceuticals (DPH) 2,830.00p 1.58% 888 Holdings (888) 109.70p 1.57%

FTSE 250 - Fallers

Capita (CPI) 77.90p -38.42% Finablr (FIN) 41.24p -16.04% Premier Oil (PMO) 67.66p -14.44% Cineworld Group (CINE) 121.50p -12.97% Tullow Oil (TLW) 27.71p -11.78% Restaurant Group (RTN) 83.00p -10.80% FirstGroup (FGP) 106.20p -7.97% Man Group (EMG) 133.15p -7.95% Trainline (TRN) 453.00p -7.83% Hyve Group (HYVE) 65.30p -7.64%
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