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FTSE 250 movers: Cineworld surges; gold miners retreat

London’s FTSE 250 was up 1.4% at 17,964.71 in afternoon trade on Tuesday.

Cineworld surged, with traders pointing to speculation the company may be taken private by its founder.

The shares had already rallied on Monday on takeover speculation after a US judge granted the government’s request to end the Paramount Decrees, which is a set of antitrust rules from the 1940s that banned film studios from owning theatres.

Traders pointed to the possibility that Cineworld, whose US business Regal runs more than 500 sites, could be targeted by a big US studio.

Plus500 was in the black as the trading platform more than tripled its interim dividend and reported soaring first-half revenue and profit driven by “unprecedented” volatile markets during the Covid-19 crisis.

Online software development and gaming company Gamesys rose after it declared a maiden dividend and said full-year gaming revenue and adjusted earnings were set to be ahead of its previous expectations following a strong performance in the first seven months of the year.

Going the other way, precious metals miners Hochschild and Centamin fell as gold prices retreated amid a firmer dollar.

Housebuilder Bellway was lower after it reported a fall in the number of homes constructed as the coronavirus lockdown forced a halt to sales.

FTSE 250 – Risers

Cineworld Group (CINE) 52.20p 27.16%
Calisen (CLSN) 187.90p 10.53%
Plus500 Ltd (DI) (PLUS) 1,371.00p 9.42%
Gamesys Group (GYS) 1,106.00p 7.80%
Virgin Money UK (VMUK) 95.64p 7.56%
FirstGroup (FGP) 44.00p 7.32%
TUI AG Reg Shs (DI) (TUI) 374.20p 7.25%
CLS Holdings (CLI) 207.50p 6.85%
RHI Magnesita N.V. (DI) (RHIM) 2,764.00p 6.72%
Royal Mail (RMG) 204.50p 6.51%

FTSE 250 – Fallers

Hochschild Mining (HOC) 268.60p -10.53%
Centamin (DI) (CEY) 202.60p -7.66%
Petropavlovsk (POG) 30.90p -7.49%
Bellway (BWY) 2,454.00p -4.33%
Kainos Group (KNOS) 1,120.00p -3.95%
ICG Enterprise Trust (ICGT) 814.00p -3.10%
Ninety One (N91) 214.00p -2.64%
Dechra Pharmaceuticals (DPH) 3,056.00p -2.36%
QinetiQ Group (QQ.) 307.80p -2.16%
Energean (ENOG) 612.00p -2.08%




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