FTSE 250 movers: Polish problems for IPF; Marshalls looking lush
The slump in International Personal Finance shares dominated the FTSE 250 at the end of the week as the emerging markets lender faced the prospect of a cap on loan charges by the Polish Ministry of Justice.
Shares in IPF slumped more than 40%.
In a statement, IPF said was “reviewing the proposal to assess the extent to which the profitability of its Polish business would be affected by the proposed changes”.
The proposal reduces the flat level cap of 25% of loan value to 10% and cutting the annual cap to 10% from 30%.
IPF also noted that consumer credit legislation normally falls within the remit of the Ministry of Finance.
Landscape products group Marshalls failed to impress, despite saying on Friday that it is confident of meeting its expectations for 2016 as it reported a rise in revenue for the 11 months to 30 November.
Revenue grew 3% to £375m, with sales in the domestic end market, which represent around 31% of group sales, up 10% compared with the prior year period.
Marshalls said UK revenue since the half year is up 4% compared with 2015 and was particularly strong in the domestic end market, where sales in the five months to the end of November were 15% higher.
Shares in Inmarsat were up after the company said on Thursday that it was shifting the long-delayed launch of a satellite to provide aeronautical broadband services from SpaceX to Arianespace.
Inmarsat said the launch of an S-band satellite for the European Aviation Network (EAN) would now take place on an Ariane 5 in mid-2017.
Market Movers
FTSE 250 (MCX) 17,702.29 0.11%
FTSE 250 - Risers
Ladbrokes Coral Group (LCL) 128.60p 4.37%
Derwent London (DLN) 2,680.00p 3.76%
Bodycote (BOY) 624.00p 3.57%
Petrofac Ltd. (PFC) 865.50p 3.28%
Inmarsat (ISAT) 734.50p 3.09%
St. Modwen Properties (SMP) 307.50p 2.53%
Pennon Group (PNN) 794.50p 2.45%
Restaurant Group (RTN) 339.10p 2.45%
BTG (BTG) 570.50p 2.42%
BGEO Group (BGEO) 3,395.00p 2.41%
FTSE 250 - Fallers
International Personal Finance (IPF) 169.70p -40.35%
Evraz (EVR) 239.90p -8.55%
Euromoney Institutional Investor (ERM) 1,032.00p -7.86%
Marshalls (MSLH) 299.90p -5.39%
Smurfit Kappa Group (SKG) 1,813.00p -3.36%
SIG (SHI) 94.00p -3.25%
Acacia Mining (ACA) 396.70p -3.01%
Ocado Group (OCDO) 255.00p -2.89%
IG Group Holdings (IGG) 465.00p -2.88%
NCC Group (NCC) 202.80p -2.82%