FTSE 250 movers: Offer for Hipgnosis strikes the right note; Centamin slides
FTSE 250 (MCX) 19,360.83 0.11%
Shares in Hipgnosis Songs Fund rocketed by more than 30% after the music rights investor said it had agreed a $1.4bn takeover by US-based Concord Chorus, a music and theatrical rights firm. Hipgnosis Songs investors will get $1.16 a share in cash, a 32% premium based on current exchange rates from Wednesday's closing price.
Wizz Air shares took off as oil prices retreated and sector rival easyJet reported narrower losses.
Dunelm shares dropped after the homewares retailer reported a slowdown in sales growth in its third quarter due to "volatile" trading conditions. The company said total sales in the three months to 30 March were up 3% year-on-year at £435m, compared with 4.5% growth seen in the first half.
Gold miner Centamin was nearly 6% lower at one point after reporting a slight decline in first-quarter production and higher unit costs, though it reaffirmed its full-year cost and output guidance.
Market Movers
FTSE 250 - Risers
Hipgnosis Songs Fund Limited NPV (SONG) 91.40p 29.65%
Wizz Air Holdings (WIZZ) 2,078.00p 4.58%
Dr. Martens (DOCS) 70.00p 4.48%
Wood Group (John) (WG.) 148.90p 3.98%
Spire Healthcare Group (SPI) 246.00p 3.14%
Hochschild Mining (HOC) 150.20p 3.02%
TBC Bank Group (TBCG) 2,990.00p 2.40%
AJ Bell (AJB) 302.00p 2.37%
Me Group International (MEGP) 168.40p 2.31%
Big Yellow Group (BYG) 1,050.00p 2.14%
FTSE 250 - Fallers
Dunelm Group (DNLM) 1,007.00p -6.24%
Future (FUTR) 626.50p -5.15%
Watches of Switzerland Group (WOSG) 336.00p -3.89%
Vesuvius (VSVS) 457.00p -3.79%
Quilter (QLT) 99.00p -3.41%
Bridgepoint Group (Reg S) (BPT) 230.00p -3.12%
Twentyfour Income Fund Limited Ord Red (TFIF) 102.00p -3.04%
Trustpilot Group (TRST) 188.40p -2.99%
Centamin (DI) (CEY) 125.90p -2.93%
Harbour Energy (HBR) 281.20p -2.87%
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.