FTSE 250 movers: Currys lifted by upgrade, Sirius Real Estate drops

dl currys pc world dixons carphone shop sign — CurrysSharecast photo / Josh White

Financial stocks were putting in a mixed performance on Monday, while Curry's was lifted by a broker upgrade and Sirius Real Estate underwhelmed with a capital raise and first-half results.

Financial stocks were dominating both the risers and fallers lists. Investment firm Foresight Group, insurer Lancashire, and banks Bank of Georgia and Close Brothers were all putting in decent gains; while banks OSB Group, Virgin Money and Paragon Banking Group were all in the red.

RBC Capital Markets upgraded Currys to ‘outperform’ from ‘sector perform’ and lifted the price target to 70p from 60p, saying the electrical retailers was "becoming investable again". The broker pointed out that Currys trades at a "lowly" rating of less than 4x EV/EBIT, at the lower end of its historical range.

The worst performer of the day was business parks, offices and workspace property group Sirius Real Estate after announcing a capital raise alongside its interim results. The company said it was raising £145m through a share placing as it hopes to execute on a "significant near-term pipeline of attractive acquisition opportunities". It also reported a 2% increase in first-half adjusted profits.

Indivior was extending gains made on Friday after announcing a $100m share buyback to reduce its issued shared capital and return cash to shareholders.

Senior edged higher after backing its full-year guidance as it said trading has been in line with expectations, citing "robust" market demand.

Qinetiq Group was also in demand after announcing its Avantus unit won a five-year $170m contract with the US Department of Homeland Security for its Tethered Aerostat Radar System.

FTSE 250 - Risers

Tritax Eurobox (GBP) (EBOX) 54.80p 4.58%
Foresight Group Holdings Limited NPV (FSG) 423.00p 4.19%
Ceres Power Holdings (CWR) 221.20p 3.56%
Currys (CURY) 49.96p 3.35%
Lancashire Holdings Limited (LRE) 649.00p 2.85%
Bank of Georgia Group (BGEO) 3,500.00p 2.19%
Indivior (INDV) 1,358.00p 2.11%
TUI AG Reg Shs (DI) (TUI) 510.00p 2.08%
Energean (ENOG) 929.50p 1.92%
Close Brothers Group (CBG) 787.50p 1.88%