FTSE 250 movers: TalkTalk worries rumble on, as National Express motors

The FTSE 250 decelerated gradually over the course of Monday's trading, finishing the session down 0.36% at 17,178.66.

Pharmaceuticals & Biotechnology

19,259.77

15:45 15/11/24

-2.70%

-535.19

TalkTalk continued its decline after last week's revelations of a major cyber-attack rumbled on since the weekend. Analysts have calculated that the cyberattack could cost TalkTalk around £50m-£70 in lost revenue and other related costs, while others have put costs into the hundred of millions.

Shares in Bank of Georgia were down 2.6% as the company announced pricing for the flotation of its healthcare subsidiary in London. Bank of Georgia Healthcare Group set a price range for its stockmarket debut of between 215p and 315p for an offering size of between $100m and $150m.

Miner Kaz Minerals and hydrocarbon drillers Tullow Oil and Premier Oil were on the slide, not helped by a further declines in oil prices and most three-month contract futures on the London Metal Exchange.

Travel group Go-Ahead was another faller as broker Liberum cast a sceptical eye over its financials. Despite being cash-generative and with leading positions in key markets, the postponement of the £100m bus operating profit target, and ongoing regulatory uncertainty, has pushed back a hoped-for cash returns to shareholders. The shares were downgraded to 'hold' from 'buy', with the target price cut to 2750p from 3000p.

Going the other way, fast, was sector peer National Express , which sped to the top of the mid-cap leaderboard, driven by a strong write-up from Liberum as well as analysts at RBC Capital Markets focused on the group's attractive valuation and yield. Both highlighted the company's strong geographic diversification. Liberum upgraded its rating to 'buy' from 'hold' and lifted its target price to 340p from 300p, while RBC said: "We think investors need to get on board now".

Drug group Indivior was also given a shot in the arm by a bullish broker note. Deutsche Bank said it expected management to raise full year guidance given continued strength in prescriptions of its lead drug, Suboxone film, in the quarter. DB reiterated its 'buy' rating and 300p price target.

FTSE 250 - Risers

National Express Group (NEX) 289.80p 5.00%
Indivior (INDV) 215.80p 3.55%
Senior (SNR) 244.80p 3.29%
Wizz Air Holdings (WIZZ) 1,880.00p 3.01%
Synthomer (SYNT) 333.40p 2.58%
Electra Private Equity (ELTA) 3,708.00p 2.01%
Bodycote (BOY) 534.50p 2.00%
AA (AA.) 281.70p 1.84%
Northgate (NTG) 422.50p 1.83%
Home Retail Group (HOME) 114.60p 1.69%