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FTSE 250 movers: Finablr crashes, Premier Oil against the ropes
12th Mar 2020 16:10
(Sharecast News) - London's second-tier index finished 9.35% or 1,621.81 points lower at 15,717.42 with the benchmark gauge's most financially-strapped companies pacing losses, including Finablr and Premier Oil.
Adding to the former's woes, the Travelex owner said that it was under pressure from the NMC Health scandal and the coronavirus outbreak it was "urgently" reviewing its liquidity and cashflow.
Finablr also said that it would commission an independent investigation into its finances.
In the wake of US President Donald Trump's decision to suspend travel between the US and Schengen area countries for 30 days, Restaurant Group was also near the bottom of the pile, mimicking similar precipitous declines among its peers on the Continent.
Other transport, energy or entertainment related stocks that continued to be pummeled due to the indirect impact of the coronavirus pandemic were Go Ahead Group, Tullow Oil and Cineworld.
Stock in payments firm Equiniti was one of the few in the black after posting a sharp rise in full-year pre-tax profits.
Investors bid its shares higher despite management's warning of the "uncertainty" triggered by "the unpredictable spread" of the coronavirus pandemic.
Commenting on the market backdrop, Markets.com's chief market analyst, Neil Wilson, said: "The market is aggressively pricing for a major global recession.
"There is total uncertainty and no one in the market has ever dealt with this kind of thing. No one knows what a total economic shutdown, however temporary, looks like. Shares are simply reflecting deep anxiety about the global economy."
Market Movers
FTSE 100 (UKX) 5,237.48 -10.87%
FTSE 250 (MCX) 15,717.42 -9.35%
FTSE 250 - Risers
Equiniti Group (EQN) 172.00p 2.99%
BBGI SICAV S.A. (DI) (BBGI) 157.00p 0.32%
Millennium & Copthorne Hotels (MLC) 687.00p 0.00%
FTSE 250 - Fallers
Finablr (FIN) 4.50p -79.95%
Premier Oil (PMO) 13.01p -45.04%
Restaurant Group (RTN) 55.60p -31.78%
Go-Ahead Group (GOG) 1,152.00p -31.51%
Tullow Oil (TLW) 12.45p -31.26%
Cineworld Group (CINE) 67.00p -24.21%
William Hill (WMH) 92.48p -24.17%
PPHE Hotel Group Ltd (PPH) 1,040.00p -23.13%
Airtel Africa (AAF) 38.68p -22.64%
WH Smith (SMWH) 1,268.00p -21.05%
Adding to the former's woes, the Travelex owner said that it was under pressure from the NMC Health scandal and the coronavirus outbreak it was "urgently" reviewing its liquidity and cashflow.
Finablr also said that it would commission an independent investigation into its finances.
In the wake of US President Donald Trump's decision to suspend travel between the US and Schengen area countries for 30 days, Restaurant Group was also near the bottom of the pile, mimicking similar precipitous declines among its peers on the Continent.
Other transport, energy or entertainment related stocks that continued to be pummeled due to the indirect impact of the coronavirus pandemic were Go Ahead Group, Tullow Oil and Cineworld.
Stock in payments firm Equiniti was one of the few in the black after posting a sharp rise in full-year pre-tax profits.
Investors bid its shares higher despite management's warning of the "uncertainty" triggered by "the unpredictable spread" of the coronavirus pandemic.
Commenting on the market backdrop, Markets.com's chief market analyst, Neil Wilson, said: "The market is aggressively pricing for a major global recession.
"There is total uncertainty and no one in the market has ever dealt with this kind of thing. No one knows what a total economic shutdown, however temporary, looks like. Shares are simply reflecting deep anxiety about the global economy."
Market Movers
FTSE 100 (UKX) 5,237.48 -10.87%
FTSE 250 (MCX) 15,717.42 -9.35%
FTSE 250 - Risers
Equiniti Group (EQN) 172.00p 2.99%
BBGI SICAV S.A. (DI) (BBGI) 157.00p 0.32%
Millennium & Copthorne Hotels (MLC) 687.00p 0.00%
FTSE 250 - Fallers
Finablr (FIN) 4.50p -79.95%
Premier Oil (PMO) 13.01p -45.04%
Restaurant Group (RTN) 55.60p -31.78%
Go-Ahead Group (GOG) 1,152.00p -31.51%
Tullow Oil (TLW) 12.45p -31.26%
Cineworld Group (CINE) 67.00p -24.21%
William Hill (WMH) 92.48p -24.17%
PPHE Hotel Group Ltd (PPH) 1,040.00p -23.13%
Airtel Africa (AAF) 38.68p -22.64%
WH Smith (SMWH) 1,268.00p -21.05%