FTSE 250 movers: Micro Focus surges; Cineworld tumbles
London’s FTSE 250 was up 0.1% at 20,148.67 in afternoon trade on Friday.
Micro Focus International shares surged after Amazon named it as one of the businesses approved to help companies move computer mainframes onto Amazon Web Services (AWS).
On the downside, Cineworld slumped after Warner Brothers said it would be releasing next year's film slate straight to streaming, at the same time as releasing them to cinemas.
CMC Markets analyst Michael Hewson said: "While this only affects its content in the US, with the films being released to HBO Max, the direction of travel is clear, and could spell the end of some of its cinema real estate, as being unviable, particularly since it has over £6bn in debt already.
"The news that AMC Entertainment, who own the Odeon cinema group has said it will need to raise extra cash in order to get through the winter hasn’t helped either."
Shares of TBC Bank also fell after the European Bank for Reconstruction and Development (EBRD) cut its stake in the Georgian lender, selling 1.65m shares in an accelerated bookbuild on the London Stock Exchange.
Pets at Home lost ground after saying it would take a full £35m hit from Covid-19 after deciding to repay £28.9m in government business rates relief received during the pandemic.
FTSE 250 - Risers
Micro Focus International (MCRO) 431.60p 7.15%
Synthomer (SYNT) 452.20p 6.25%
Rank Group (RNK) 163.00p 6.12%
Energean (ENOG) 789.60p 5.43%
Aston Martin Lagonda Global Holdings (AML) 79.30p 5.38%
Ferrexpo (FXPO) 259.20p 5.19%
Morgan Sindall Group (MGNS) 1,498.00p 5.05%
BMO Commercial Property Trust Limited (BCPT) 84.80p 4.31%
Petrofac Ltd. (PFC) 167.55p 3.94%
Balfour Beatty (BBY) 280.20p 3.85%
FTSE 250 - Fallers
Cineworld Group (CINE) 63.30p -13.29%
TBC Bank Group (TBCG) 1,184.00p -5.28%
AJ Bell (AJB) 429.50p -5.19%
Hochschild Mining (HOC) 198.00p -4.35%
888 Holdings (888) 275.50p -4.17%
Pets at Home Group (PETS) 384.20p -3.52%
Mediclinic International (MDC) 277.80p -3.41%
Avon Rubber (AVON) 4,085.00p -3.20%
Babcock International Group (BAB) 334.00p -3.16%
Dunelm Group (DNLM) 1,206.00p -2.98%