FTSE 250 movers: Harbour Energy on the rise; Aston Martin hits the brakes

FTSE 250 (MCX) 20,705.05 0.17%

Harbour Energy said on Friday its blockbuster $11.2bn acquisition of Wintershall Dea’s non-Russian oil and gas assets remained on track, with publication of the deal prospectus expected shortly.

In a brief update, the North Sea oil and gas producer - the UK’s largest - said it was making "good progress" on concluding both the prospectus and shareholder circular.

The documents were in the final stages of preparation, it noted, with publication likely "in the coming weeks".

The shareholder vote on the deal will then be held.

Harbour concluded: "All regulatory, anti-trust and foreign direct investment approvals required for completion continue to progress as planned, and Harbour continues to expect to complete the acquisition during the fourth quarter of 2024."

Harbour agreed to acquire the much larger business in a share and cash deal with Germany’s BASF and investment firm LetterOne, Wintershall Dea’s owners, last December.

The blockbuster deal will transform Harbour from a UK-focused producer with a market value of around £2bn to a global player with projects across multiple countries.

The deal includes Wintershall’s oil and gas fields in Germany, Norway, Mexico and Egypt, among others.

Harbour's oil and gas production is forecast to rise from around 190,000 barrels per day to more than 500,000 per day following completion.

Shares in luxury car maker Aston Martin Lagonda surged, although there was no apparent reason for the jump.

Auction Technology Group led the fallers.

Market Movers

FTSE 250 - Risers

Aston Martin Lagonda Global Holdings (AML) 149.10p 7.58%
Wizz Air Holdings (WIZZ) 2,274.00p 3.55%
QinetiQ Group (QQ.) 444.40p 3.45%
Bridgepoint Group (Reg S) (BPT) 224.20p 2.75%
Babcock International Group (BAB) 569.00p 2.71%
Lancashire Holdings Limited (LRE) 630.00p 2.61%
Apax Global Alpha Limited (APAX) 159.00p 2.58%
Patria Private Equity Trust (PPET) 577.00p 2.49%
Harbour Energy (HBR) 329.10p 2.33%
Pennon Group (PNN) 619.50p 2.23%

FTSE 250 - Fallers

Auction Technology Group (ATG) 524.00p -4.90%
Ferrexpo (FXPO) 42.40p -4.72%
Rathbones Group (RAT) 1,710.00p -3.17%
TUI AG Reg Shs (DI) (TUI) 535.00p -2.37%
Inchcape (INCH) 797.50p -2.33%
Wood Group (John) (WG.) 182.90p -2.24%
Ithaca Energy (ITH) 132.00p -2.22%
Morgan Advanced Materials (MGAM) 310.50p -2.20%
WH Smith (SMWH) 1,145.00p -2.14%
Polar Capital Technology Trust (PCT) 2,995.00p -2.12%