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FTSE 250 movers: Polymetal shines; Ascential loses ground
(Sharecast News) - London's FTSE 250 was up 0.1% at 19,188.01 in afternoon trade on Tuesday. Anglo-Russian precious metals miner Polymetal was the standout gainer on the index, followed by Baltic Classifieds Group and iconic bootmaker Dr Martens.
On the downside, Ascential fell even as Shore Capital said it was maintaining its 'buy' recommendation on the shares.
"We expect Ascential to deliver strong earnings per share growth, robust cash flow and a return to dividend payments thanks to its compelling digital commerce and information offering and a continuing post-Covid recovery across other areas of operation," the broker said in a note.
"The former has been established via a protracted period of M&A activity which has, in our view, obscured the group's ultimate growth potential and made it difficult for investors to ascribe an accurate valuation to its equity.
"So, a quieter period of organic execution would be helpful. Based on our updated forecasts, we estimate a fair value of 317p per share suggesting circa 44% upside potential."
FTSE 250 - Risers
Polymetal International (POLY) 224.20p 12.10% Baltic Classifieds Group (BCG) 147.40p 5.74% Dr. Martens (DOCS) 247.20p 4.92% Royal Mail (RMG) 279.50p 4.68% TUI AG Reg Shs (DI) (TUI) 132.85p 4.24% Aston Martin Lagonda Global Holdings (AML) 444.70p 3.76% Network International Holdings (NETW) 241.60p 3.60% Quilter (QLT) 107.45p 3.47% Vesuvius (VSVS) 357.00p 3.42% ASOS (ASC) 720.50p 3.37%
FTSE 250 - Fallers
Drax Group (DRX) 681.00p -3.61% Ascential (ASCL) 213.00p -3.01% 888 Holdings (DI) (888) 124.80p -2.95% Telecom Plus (TEP) 1,962.00p -2.14% Chrysalis Investments Limited NPV (CHRY) 74.50p -1.84% Monks Inv Trust (MNKS) 1,038.00p -1.61% XP Power Ltd. (DI) (XPP) 1,958.00p -1.61% Bytes Technology Group (BYIT) 418.80p -1.60% Edinburgh Worldwide Inv Trust (EWI) 187.60p -1.57% Diversified Energy Company (DEC) 137.70p -1.43%
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