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B&M European Value Retail S.A. (DI) (BME)

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FTSE 250 movers: Restaurant Group slips, AG Barr fizzes higher

03 Sep 19

LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 was down 0.39% at 19,405.27 in afternoon trading on Tuesday, with Restaurant Group leading the index lower.

The Wagamama owner was trading down after saying it swung to a first-half pre-tax loss of 87.7m from a profit of 12.2m the previous year as it took a hit from an exceptional pre-tax charge of 115.7m.

Still, revenue surged nearly 60% and the company said trading remains in line with its expectations for the year.

Russ Mould, investment director at AJ Bell, said: "Expectations have been fairly high for Restaurant Group's recovery after the market had time to digest the (expensive) purchase of Wagamama and how it might actually help to revive the group. It also seemed as if management had finally got a grasp on the problems hanging over its other brands including Frankie & Benny's."

"Unfortunately its half year results don't quite live up to the hype around its recovery efforts. Yes, Wagamama is doing well and there are signs of progress with repairing its other interests. But there are a few items on the menu which leave investors with a stomach ache."

Kaz Minerals and Ferrexpo were both also lower as iron prices dropped on the back of a slowdown in production at Chinese steel mills.

Elsewhere, stocks with UK exposure weighed, with housebuilder Galliford Try dropped along with retailers B&M European Value and Sports Direct.

Up at the other end of the index, Irn-Bru manufacturer AG Barr led the risers, while precious metals miners Acacia Mining and Centamin followed close behind after gold prices surged as Brexit uncertainty reached fever pitch.

Finally, NewRiver REIT also made gains as analysts at Liberum reiterated their 'buy' rating of the stock as they commented that the real estate investor's asset sales in the current year are currently tracking ahead of schedule.

Market Movers

FTSE 250 (MCX) 19,405.27 -0.39%

FTSE 250 - Risers

Barr (A.G.) (BAG) 621.16p 5.46%
Vivo Energy (VVO) 123.80p 4.03%
Acacia Mining (ACA) 272.46p 2.97%
Centamin (DI) (CEY) 149.90p 2.67%
NewRiver REIT (NRR) 172.50p 2.43%
Ted Baker (TED) 951.50p 2.31%
Aston Martin Lagonda Global Holdings (AML) 483.66p 2.17%
Games Workshop Group (GAW) 4,546.19p 2.16%
GVC Holdings (GVC) 660.60p 2.04%
Energean Oil & Gas (ENOG) 1,006.00p 2.03%

FTSE 250 - Fallers

Restaurant Group (RTN) 137.30p -10.96%
Intu Properties (INTU) 34.99p -8.43%
Kaz Minerals (KAZ) 377.20p -6.03%
FDM Group (Holdings) (FDM) 758.00p -4.53%
Galliford Try (GFRD) 567.12p -3.96%
Ferrexpo (FXPO) 194.30p -3.95%
B&M European Value Retail S.A. (DI) (BME) 347.40p -3.74%
Coats Group (COA) 72.10p -3.55%
Sports Direct International (SPD) 234.74p -3.24%
Tullow Oil (TLW) 199.20p -3.16%

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 359.40p
Change Today 2.60p
52 Week High 399.60p
52 Week Low 278.60p
Volume 447,444
Shares Issued 1,000.56m
Market Cap 3,596.02m


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