FTSE 250 movers: Ascential ascends; Breedon in the red

24th Jul 2024 15:25

(Sharecast News) - FTSE 250 (MCX) 21,005.10 -0.41%

Publishing and exhibitions group Informa on Wednesday said it was buying rival Ascential in an agreed £1.2bn deal.

The 568p-a-share offer price represented a 53% premium to Ascential's closing price of 22 July, Informa said on Wednesday.

Shares in Ascential, which owns the famous Cannes Lions Festival - known as the 'Oscars of advertising' - surged to 564 pence in early deals, a jump of 26%.

Informa said the acquisition would lift adjusted earnings per share by at least 5% in the first full year,

Shares in Aston Martin Lagonda were in the green on Wednesday morning, after it reiterated its 2024 guidance in its half-year results, including positive free cash flow in the second half.

The FTSE 250 luxury carmaker said its wholesale volumes were down 32% in the first half to 1,998 units, aligning with its planned transition to new Vantage and upgraded DBX707 models.

Despite that decline, its total average selling price rose 29% to £274,000, driven by increased Specials volumes and enhanced personalisation options.

Revenue for the period was 11% weaker at £603m, impacted by lower volumes and foreign exchange headwinds.

Air quality technology designer and manufacturer Volution upgraded its expectations for the financial year about to end on Wednesday, anticipating adjusted earnings per share to be slightly ahead of current market forecasts, driven by strong performance in the UK residential sector.

Hochschild Mining reported robust first-half production numbers and a solid financial position in an update on Wednesday, having produced 103,752 ounces of gold and 4.1 million ounces of silver, amounting to 152,792 gold equivalent ounces and 12.7 million silver equivalent ounces.

Construction materials group Breedon reported a robust first-half performance on Wednesday despite challenging market conditions, driven by strategic progress and operational efficiency.

Market Movers

FTSE 250 - Risers

Ascential (ASCL) 566.00p 26.68%

Aston Martin Lagonda Global Holdings (AML) 161.80p 7.87%

Volution Group (FAN) 525.00p 3.35%

Genus (GNS) 1,684.00p 2.68%

Hochschild Mining (HOC) 181.40p 2.49%

Endeavour Mining (EDV) 1,775.00p 2.25%

Indivior (INDV) 842.00p 2.00%

Diversified Energy Company (DEC) 1,238.00p 1.89%

Redrow (RDW) 714.00p 1.78%

Future (FUTR) 1,071.00p 1.52%

FTSE 250 - Fallers

Ocado Group (OCDO) 406.90p -5.55%

TI Fluid Systems (TIFS) 130.20p -4.26%

Breedon Group (BREE) 395.00p -3.66%

Allianz Technology Trust (ATT) 371.00p -3.26%

PureTech Health (PRTC) 165.80p -3.04%

CMC Markets (CMCX) 302.50p -2.73%

Carnival (CCL) 1,324.00p -2.65%

Kainos Group (KNOS) 1,036.00p -2.63%

Primary Health Properties (PHP) 91.20p -2.46%

Moonpig Group (MOON) 208.00p -2.35%